DALIAN WANDA OFFLOADS ITS LONDON NINE ELMS DEVELOPMENT

The Chinese conglomerate Dalian Wanda has sold off its One Nine Elms hotel and residential development on the southern banks of the River Thames in London. The development was sold for £59 million plus transfer of the £159.5 million loan to Guangzhou R&F Properties. Dalian Wanda has come under increased pressure to cut debt, and has disposed of almost £7 billion in assets over the last year.

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