DALIAN, China -- Major Chinese commercial property developer Dalian Wanda Group plans to sell 48 of its shopping malls to a joint venture led by Hong Kong investment firm PAG, continuing to shed assets to raise cash amid a slumping real estate market.
Property
China developer Wanda eyes sale of 48 shopping malls in $6.9bn deal
Group unloads more assets in hunt for cash amid real estate downturn
A Wanda Plaza shopping mall in Beijing. (Photo by Kohei Fujimura)
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