Wanda Vista likely brand for Sydney
Wanda Group — which has 59 five-star hotels in China and expects to expand that to 100 properties this year — is likely to brand its two luxury Australian developments under the Wanda Vista flag.
Wang Jianlin, chairman of the Wanda Group, is developing a billion-dollar hotel at Sydney’s Gold Fields House and a $970 million hotel and apartment complex planned for Queensland’s Gold Coast.
Sources confirmed that Wanda was likely to ¬select its Wanda Vista branding for Australia, given the upscale properties – renowned for their extravagant luxury – are traditionally located in prime areas.
Gold Fields House at 1 Alfred Street was sold to Wanda Group for $415 million by Global investment group Blackstone sold the site, which it acquired when it took over Valad Property Group in 2011.
Wanda has $80 billion in assets made up mostly of Wanda Plaza developments – near-cities that combine hotels, shopping centres, cinemas, karaoke centres and department stores.
