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Wanda Starts Selling Projects Amid Overseas Cash Crunch Threat

  • Group units are divesting majority of overseas projects
  • Quarter of $2 billion in overseas debt is due in March
Wang Jianlin
Wang JianlinPhotographer: Jason Alden/Bloomberg

Chinese billionaire Wang Jianlin, faced with a quarter of his $2 billion in Dalian Wanda Commercial Properties Co.’s overseas debt coming due in March, is selling off the majority of his global hotel and development projects.

So far, three out of five global Wanda projects under development -- in London, Sydney and on Australia’s Gold Coast -- have been agreed to be sold or are nearing sale. That would leave just a hotel, office and apartment complex in Chicago and another in Beverly Hills, California.