Tuesday, May 21, 2024

Wanda Investing $1.2 Billion in Beverly Hills Project Including Company’s LA Office Overseeing Entertainment Ventures

Beijing, China (August 8, 2014) –Wanda Group announces that it has won the bid for a plot of land located at 9900 Wilshire Boulevard in Beverly Hills, Los Angeles. Wanda plans to invest USD 1.2 billion to construct a mixed-use development. Wanda successfully beat out more than ten bidders from Asia and North America for the project.

The project site is located in a prime luxury residential area, only ten minutes walking distance from Rodeo Drive, recognized as one of the world’s leading luxury retail destinations. The site is also five minutes drive from world famous UCLA University and ten minutes drive from Hollywood. Directly adjacent to the property is the Los Angeles Country Club, an exquisite 36-hole private golf course that is one of the most high profile golfing destinations throughout the city.  To the west of the site lies the famous El Rodeo School, with Beverly Hills High School situated to the east. Surrounding the site are a number of leading international hotel brands such as the Peninsula and Waldorf Astoria.

The location is widely regarded as the premier development site for luxury property throughout all of Los Angeles.

The Los Angeles project will serve as the Wanda Group’s first important step into Hollywood. The company will set up a Los Angeles office, which will handle entertainment sector investments while the company’s New York office will be responsible for commercial sector investments. The Los Angeles office will be able to leverage on Hollywood’s solid film industry resources to support the Group’s Qingdao Oriental Movie Metropolis and Qingdao International Film Festival projects in China. The office will also be the base for investment in local film production companies or global theatrical releases.

The Los Angeles project is expected to aid in China’s entry into Hollywood’s film industry and generally promote Chinese culture abroad.


Joe Kleiman
Joe Kleimanhttp://wwww.themedreality.com
Raised in San Diego on theme parks, zoos, and IMAX films, InPark's Senior Correspondent Joe Kleiman would expand his childhood loves into two decades as a projectionist and theater director within the giant screen industry. In addition to his work in commercial and museum operations, Joe has volunteered his time to animal husbandry at leading facilities in California and Texas and has played a leading management role for a number of performing arts companies. Joe previously served as News Editor and has remained a contributing author to InPark Magazine since 2011. HIs writing has also appeared in Sound & Communications, LF Examiner, Jim Hill Media, The Planetarian, Behind the Thrills, and MiceChat His blog, ThemedReality.com takes an unconventional look at the attractions industry. Follow on twitter @ThemesRenewed Joe lives in Sacramento, California with his wife, dog, and a ghost.

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