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January 31, 2018
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Australia: Wanda Sells Circular Quay Mega Development in Firesale


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Two mega projects in Sydney’s Circular Quay and the Gold Coast have been sold by Chinese developer Wanda to another Chinese company, AWH Investment Group.

Wanda announced that it had sold the Circular Quay apartment project, which is still under construction, and the Jewel project on the Gold Coast for the combined price of $312 million in cash and $807.1 million in debt repayment, which is significantly less than the previous valuation of $1 billion each.

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