Wanda’s hastily reworked deal last month to sell a portfolio of theme parks and hotels shows the extent of the retreat. Wanda’s $6.5 billion sale of 13 theme parks to Sunac includes vast real estate projects in various stages of development. Rather than owning properties that require big loans, it will try to make money by managing hotels, theme parks and shopping malls. In Nanchang, in southeastern China, Wanda built the highest and fastest roller coaster in China. Only four of the 13 theme parks have opened; the others are still under construction, along with the apartment towers around them.

Source: New York Times August 01, 2017 09:00 UTC