AsianFin -- At the start of 2025, Wanda Group has intensified its pace of selling Wanda Plaza properties, with seven plazas sold within just the first month—an average of one every two days. This follows a trend set by Chairman Wang Jianlin, who divested over 30 Wanda Plazas between 2023 and 2024.
Wang has also pledged all 2.4 million of his shares in Dalian Wanda Group as collateral to Zhuhai Wanying Enterprise Management Company, signaling intensified efforts to address mounting financial pressure.
Debt concerns have escalated, with creditors such as Yonghui Superstores, Suning.com, and Sunac seeking overdue payments amounting to billions of yuan. In one instance, Yonghui Superstores announced arbitration to recover a delayed payment of RMB 3.6 billion, while Suning.com filed a legal request for RMB 5 billion. Sunac has similarly demanded RMB 9.5 billion in share repurchase payments, though Wanda disputes the contractual basis for these claims.
The sale of Wanda Plazas has drawn notable buyers, including Kunhua Fund, which has acquired 12 plazas nationwide, solidifying its position as a key investor in Wanda’s commercial assets. These measures reflect Wanda’s ongoing struggle to balance debt obligations while navigating China’s challenging real estate landscape.
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