Billionaire Wang Jianlin, chairman of China-based Dalian Wanda Group, has expressed strong interest on investing in multimillion projects in Australia’s property market.

Forbes wealthiest man on Mainland China recently met with federal authorities in two separate closed-door meetings to discuss potential commercial and mixed-use investments on the Gold Coast, in Brisbane and possibly Sydney areas, The Australian reported.

Gold Coast-based international agent Roland Evans, director of Canford Property Group, told The Australian that he is working with the Chinese investor, but added that Wang’s firm is not looking for a joint venture partner for a possible casino resort in Queensland.

“They are doing that with some major acquisitions internationally,” he said. Recently, Wang’s company acquired a historical landmark in Madrid, Spain, to convert it into a luxury hotel.

“This will be a multitude of investments,” Evans continued, adding that Dalian Wanda is interested in putting up, among others, shopping centres, hotels and tourist attractions in Australia under the Wanda Hotels & Resorts unit.

Australian parliamentary hearings are currently weighing on the extent of foreign investments in the country, which some citizens consider as one of the main factors that drive property prices up.

Gold Coast by Donaldytong was used under a Creative Commons licence.

Source: www.property-report.com