Chinese commercial property giant Wanda Commercial has signed strategic investment agreements with several Internet giants to upgrade its retail¹ business, the company announced Monday.

 

中国商业地产巨头万达商业与几家互联网公司签署战略投资协议以提升其零售业务。

 

The investor² group, including tech giant Tencent, leading e-commerce players Suning and JD.com, and property developer Sunac, plans to invest about 34 billion yuan (5.37 billion U.S. dollars) to buy around a 14-percent equity³ interest in Wanda Commercial that is held by investors⁴ who purchased the stake upon the company's delisting from the Hong Kong Stock Exchange, the company said in a statement on its website.

 

The partnership⁵ represents one of the world's largest single strategic investments between Internet companies and brick-and-mortar commercial giants, according to the company.

 

Wanda Commercial is the flagship company of Dalian Wanda Group, and is the world's biggest commercial property firm. As of the end of 2017, the company held 31.51 million square meters of operating commercial property spaces with 235 Wanda Plazas⁶ operating in China.

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