Chinese developer Wanda Group to invest $24 bln in southwest city

May 22, 2015 6:33 AM

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HONG KONG May 22 China's largest commercial property developer Dalian Wanda Group said on Friday it would invest 150 billion yuan ($24 billion) in the southwest city of Chongqing to build a large-scale Wanda Cultural Tourism City and 28 Wanda Plazas.

The group, a holding company of Hong Kong unit Dalian Wanda Commercial Properties, said in a statement it had signed a strategic cooperation agreement with Chongqing municipal government, and the investment will create over 200,000 service sector jobs in the city.

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