Dalian Wanda Group was founded in 1988 and operates in four major segments: commercial property, luxury hotels, culture & tourism, and department stores. The company has 300 billion yuan ($48 billion) in total assets, and 141.7 billion yuan ($22.7 billion) in annual revenue. As of 2013 2013, the group had in its portfolio 85 Wanda Plazas, 51 five-star and super five-star hotels, 1,247 movie screens, 75 department stores and 81 karaoke centers.
Wanda Group Chairman Wang Jianlin has emerged as the second wealthiest person in Greater China with a fortune of 150 billion yuan ($24.5 billion), according to the 2014 Hurun Global Rich List.
For the future, Wang has predicted that Wanda will have hotels in eight to ten cities across the world within the next decade. Wanda also intends to take its first tentative steps in India with a JV with Indian tycoon Anil Ambani’s Reliance Group to set up a strategic long-term partnership.
A time line:
1989:
Dalian Wanda Group established.
1993:
Became China’s first cross-regional developer.
2000:
Wanda started building Changchun Wanda Plaza, its first commercial property project afrer deciding to also develop Commercia property. The plaza also formed a strategic partnership with the Wal-Mart.
2004:
Wanda developed its first third-generation Wanda Plaza, the Ningbo Zhengzhou Wanda Plaza, which is Wanda's first HOPSCA project.
2005:
Wanda combined its commercial and residential property business into one company – Wanda Commercial Properties Co Ltd
2006:
Wanda Group became the No. 1 commercial property developer in China.
2007:
Wanda Department Store inaugurated.
2008:
Group headquarters were moved from Dalian to Beijing CBD Wanda Plaza.
2010:
Guangzhou Baiyun Wanda Plaza opens
2011:
Chu River & Han Street opens. The 50-billion-yuan funded Chu River & Han Street project of Wuhan Central Cultural District Phase I became operational. The project combines various functions, including tourism, business, commerce and residence, into one complex. Covering 18 square kilometers and with a total construction area of 3.4 million sq
2012:
Wanda established the first luxury hotel management company in China - Wanda Hotel and Resorts Co Ltd .Wanda Group acquired the entire stake of the world’s second biggest cinema chain AMC and inherited its debt with $2.6 billion. It is the largest acquisition made by a private Chinese company in the US and also the biggest overseas M&A in China.
Establishes: Beijing Wanda Culture Industry Group. China’s largest cultural enterprise with a registered capital of 5 billion yuan. Its total assets is 31 billion yuan ($5 billion) and total revenue is 20.8 billion yuan ($3.3 billion) in 2012. The group operates in 10 arenas, including cinemas, film production, film industry parks, performing arts, film technology entertainment, theme parks, karaoke venues, publications & media, art collecting, and cultural tourism
2013:
Wanda acquires a majority shareholding in UK luxury yacht manufacturer Sunseeker with GBP320 million and will develop a real estate project in Central London, which will include a five-star luxury hotel, with a total investment value of GBP 700 million.