男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Companies

China's richest man loses $29m in Spain property deal

By Shi Jing in Shanghai | China Daily | Updated: 2017-06-03 06:53

China's richest man loses $29m in Spain property deal

Wang Jianlin, chairman and president of Dalian Wanda Group, attends the Asian Financial Forum (AFF) in Hong Kong, Jan 18, 2016. [Photo/VCG]

China's richest man Wang Jianlin has lost up to 200 million yuan ($29.3 million) from a deal brokered in Spain three years ago because of a shift in exchange rates.

Wanda Hotel Development Company Ltd announced on Friday it had sold its stake in Plaza de Espana 19 Development SLU to Spanish property company Baraka Global Invest SLU.

The sale by Wanda Hotel Development, a subsidiary of Dalian Wanda Group chaired by Wang, was completed on Thursday.

As a result, shares in the Hong Kong-listed Wanda Hotel Development climbed 1.45 percent to close at HK$0.7 (9 cents) on Friday.

According to a previous announcement by the company, the sale price was 272 million euros ($305 million), which was higher than the 265 million euros Wanda Hotel Development paid for the Plaza in 2014.

But because the euro has deprecated since then and the yuan has strengthened in the past few years, the company has lost out on the deal.

Wanda paid the equivalent of 2.2 billion yuan based on the exchange rate in 2014. The 272-million-euro selling price this week translates into 2.08 billion yuan based on current rates.

So, Wang and his company have lost almost 200 million yuan over the deal.

China's richest man loses $29m in Spain property deal

People take a break at Plaza de Espana in Madrid, Spain. [Photo provided to China Daily]

As a landmark in Madrid, Plaza de Espana used to consist of a luxury hotel, a business center and a number of apartments before 2006.

But it had been empty until Wanda took control three years ago.

After it was snapped up, the company planned to restore the Plaza to its former glory with a 200-room luxury hotel, high-end retailing space and 300 residential apartments.

Unfortunately, Wanda's blueprint was never turned into reality.

A change in attitude of the Spanish government and strong opposition by local residents to restoration work put the plan on ice for at least two years.

Eventually, Wanda lost interest in the project.

According to market research firm ASKCI Consulting Co Ltd in Shenzhen, the group has spent more than $15 billion on overseas acquisitions between 2012 and 2016.

Up to $7.5 billion has been spent on cultural and entertainment projects and $3.5 billion on commercial properties.

So far, the company has been involved in projects in London, Chicago, the Golden Coast of Australia, Sydney, and Los Angeles' Beverley Hills.

Wanda has also been looking at investments in Malaysia and Indonesia as part of the Belt and Road Initiative.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 蛟河市| 南康市| 宁陕县| 息烽县| 绵竹市| 葫芦岛市| 五常市| 岳阳县| 黄陵县| 乐至县| 东丰县| 金昌市| 安吉县| 鹤峰县| 眉山市| 西和县| 濉溪县| 定日县| 喀喇沁旗| 平舆县| 临高县| 贡觉县| 米泉市| 星座| 乌拉特前旗| 蓬安县| 宜昌市| 梁山县| 桓台县| 晋江市| 宜黄县| 栖霞市| 曲阳县| 望都县| 大英县| 象州县| 长葛市| 漳平市| 体育| 潼关县| 高青县|