Sunday, May 14, 2017

Dalian Wanda invests under direction from the Chinese Government-Australian FIRB approvals for Circular Quay,other projects in Australia ought to be revoked, at minimum suspended pending review

by Ganesh Sahathevan 

Business talk: Najib meeting with Wang in Beijing. — Bernama

Malaysia's PM Najib Razak, said in Beijing that he would like China's Dalian Wanda Dalian property group  to develop a prime plot of land in Kuala Lumpur, but understood that Wanda's participation in the project would require Chinese Government approval.
The Star reported:
On whether the Chinese government would endorse Dalian Wanda Group’s investment in Bandar Malaysia, Najib said: “We will refer to the Chinese government based on the final settlement since it requires their support.”

While it is true that Najib's management of the project is 
confused to say the least,  his statement above was made in Beijing and in the presence of Wang Jianlin,China's richest man who is supposed to own a significan part and control Dalian Wanda.

Wang  did not correct of object to what Najib had to say,and therefore Wanda's claim to be a non-government entity is in doubt.That claim is the basis for it obtaining Australian Government  approval for projects in Australia,and those approvals must now be revoked or at minimum suspended pending review.


Dalian Wanda reaches for the cloud in Circular Quay project

Dalian Wanda is hoping to complete its $1bn twin tower project at Circular Quay in 2021.
Dalian Wanda is hoping to complete its $1bn twin tower project at Circular Quay in 2021.

Dalian Wanda is hoping to complete its $1bn twin tower project at Circular Quay in 2021.
Dalian Wanda is hoping to complete its $1bn twin tower project at Circular Quay in 2021.

Chinese powerhouse Dalian Wanda will adopt cloud technology in its proposed luxury hotel on Sydney’s Circular Quay with the ambitious developer hoping to roll out the system in more overseas projects.
The company, controlled by billionaire Wang Jianlin, has just lodged the stage two development application for the 110-metre five-star hotel tower, the final move in winning approval for the $1 billion twin tower project known as Wanda One Sydney.
The proposed redevelopment, also comprising a 194 metre, 59-storey luxury apartment tower, had gone through the most complicated development approval process the City of Sydney had ever handled, John Wei, managing director of Wanda One Sydney, told The Australian.
“This has to be an iconic project, given its location at Circular Quay,” he said.
“Wanda’s vision is to create a benchmark for luxury hotels and luxury apartments in overseas markets, which we can refer back to in future projects.”
The hotel, to be called Wanda Vista, is the company’s first hotel project in Sydney. The company has appointed international ­architect Kengo Kuma & Associates and Australian firm Crone Architects to lead the design.
Wanda will apply its “Wanda Cloud” technology in the hotel — the first time it has done so outside of China.
“For example, before you get back to your hotel room, you can use the app on your phone to control the settings in your room to make sure you have what you want already for you,” he said.
“You can have the air conditioning set at the right degree, the exact TV channel you want, the most comfortable water temperature for your bath, and even the window, the ventilation, etc, all before you get back,” Mr Wei said.
The Beijing-based company proposed the dual tower project on the prominent harbourfront site at 1 Alfred Street after buying the office building for $415m from Blackstone in late 2014 and later parcelling it with two smaller properties — Fairfax House at 19-31 Pitt Street and the Rugby Club at 31a Pitt Street. With most approvals in place, it now expects to start demolition work on the site early next year and to complete the project by 2021.
Wanda is also planning to launch the 59-storey residential tower in the third quarter or the fourth quarter of 2017, which will comprise up to 200 luxury apartments. “In comparison with other overseas markets, Australia still has great potential in residential development, especially in the high-end market,” Mr Wei said.
“We are taking an at least 10-year view here, and our client base won’t be impacted by short-term fluctuations.”

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