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Dalian Wanda Sells Its London Towers

  • Wang agrees to sell One Nine Elms hotel, homes development
  • Land on Thames is said to be going to China’s R&F Properties
The Nine Elms Square construction site in London on Aug. 22, 2017.

The Nine Elms Square construction site in London on Aug. 22, 2017.

Photographer: Luke MacGregor/Bloomberg
Updated on

Billionaire Wang Jianlin agreed to sell one of the largest luxury residential projects under development in London as his Dalian Wanda Group Co. continues to shed assets acquired in a spree that once made the founder China’s richest man.

Two of the company’s units sold their interests in the One Nine Elms project on the south bank of London’s River Thames for about 59 million pounds ($81.5 million), according to a filing late Tuesday in Hong Kong. Guangzhou R&F Properties Co., is the buyer, according to two people with knowledge of the matter who asked not to be identified discussing private information.