China is taking another next step into the US film industry with mainland developer Wanda announcing a major investment in Hollywood real estate.
Wanda, owner of US cinema chain AMC and China’s biggest commercial developer by sales, said on Friday it had won the battle for a plot of land at 9900 Wilshire Boulevard in the Beverly Hills area of Los Angeles.
It plans to invest $1.2bn to build a mixed-use development, which will include luxury apartments and office space targeting the entertainment industry.
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