Dalian Wanda eyes 10% expansion of malls, cinemas

Chinese developer seeks to return to growth ahead of Hong Kong IPO

20220707 Dalian Wanda main

After China's Dalian Wanda ran into financial trouble in 2017, it switched to an "asset-light" business model, relying more on property management fees for revenue. (Photo by Shin Watanabe)

SHIN WATANABE, Nikkei staff writer

DALIAN -- Chinese commercial property developer Dalian Wanda Group plans to expand its shopping mall and movie theater networks in China to consolidate its position as the leading operator of such facilities in the country's vast market.

The company will raise the number of commercial complexes and cinemas it operates by 10% each in 2022, compared with the previous year, to solidify its dominance despite the country's drawn-out battle to contain COVID-19 outbreaks.

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