• Login
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
Times of Pakistan
No Result
View All Result
Home Pakistan

Chinese billionaire buys 007’s yacht maker

ToP by ToP
June 20, 2013
in Pakistan
0
Chinese billionaire buys 007's yacht maker

Chinese billionaire buys 007's yacht maker

0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
Chinese billionaire buys 007's yacht maker
Chinese billionaire buys 007’s yacht maker

Chinese billionaire Wang Jianlin is making waves in the United Kingdom.

His real-estate and hotel conglomerate Dalian Wanda Group is spending over £1 billion ($1.6 billion) on British yacht maker, Sunseeker, and a luxury London hotel. The Sunseeker takeover — worth £320 million — will see the Chinese firm acquire a 92% stake in the iconic company that crafts yachts for James Bond films.Wang, one of China’s richest men, is looking to take advantage of exploding luxury yacht demand in China and other emerging markets.

Wanda also announced plans to develop a five-star hotel and apartment complex in a prime London location overlooking the River Thames.The total value of the real estate project is pegged at roughly £700 million ($1.1 billion). It has already received full planning permission.The Dalian Wanda Group has made a name for itself in Chinese commercial property, luxury hotels, karaoke outlets and department store chains. Like other Chinese firms, it is now looking to expand its global presence.

The company has assets of 300 billion yuan ($48 billion) and annual revenue of 142 billion yuan.According to reports, Wang had been looking to purchase 30 Sunseeker yachts for three new marinas but decided it made more sense to buy the company instead. Dalian Wanda could not be reached for comment.

The ranks of China’s super-rich are growing rapidly. The number of people with more than $30 million in assets grew by nearly 60% between 2007 and 2011, according to research from WealthInsight, boosting demand for luxury goods and high-end services.  “Support from Wanda will be instrumental in enabling Sunseeker to unlock the enormous potential of China’s rapidly expanding luxury yacht market,” said Sunseeker managing director Stewart McIntyre.Last year, Wanda bought cinema chain AMC Entertainment Holdings in a $2.6 billion deal. – CNNMoney

Tags: Chinese billionaireWang Jianlin
Previous Post

Serena’s new love match shows rules were made to be broken

Next Post

James Gandolfini dies aged 51

ToP

ToP

Related Posts

Pakistan to work closely with China on realizing shared vision of prosperity: PM
Pakistan

Pakistan to work closely with China on realizing shared vision of prosperity: PM

by Top
June 30, 2022
Pakistan not in isolation, foreign policy moving in right direction: Hina
Pakistan

Pakistan not in isolation, foreign policy moving in right direction: Hina

by Top
June 29, 2022
Self-reliance, tactical solutions needed to address economic problems: PM
Pakistan

Self-reliance, tactical solutions needed to address economic problems: PM

by Top
June 28, 2022
Maryam Nawaz Booked for Instigating NAB office Attack
Pakistan

Imran Khan finding another Saqib Nisar in the judiciary says, Maryam Nawaz

by Top
May 31, 2022
Several cities face petrol shortage amid oil tanker owners' strike
Pakistan

Petrol, and diesel in Pakistan still cheaper than UK, BD, India, UAE

by Top
May 27, 2022
Opposition’s Haste for no Trust Move to Save Looted Wealth: PM Imran
National

Supreme Court bars govt from initiating action against Imran Khan

by Shameel Shoaeb
May 26, 2022
COVID-19 restrictions removed as positivity ratio declines: Asad Umar
Pakistan

Asad Umar welcomes PM Shehbaz Sharif’s offer for talks on fresh elections

by wasif
May 26, 2022
Next Post
Gandolfini

James Gandolfini dies aged 51

Popular Stories

  • Chief Justice Iftikhar Chaudhry

    The rise and leveling of the APMSO

    0 shares
    Share 0 Tweet 0
  • Thandie Newton was abused as a teenager on the director’s casting couch

    0 shares
    Share 0 Tweet 0
  • Pakistan not in isolation, foreign policy moving in right direction: Hina

    0 shares
    Share 0 Tweet 0
  • NTDC Starts work on Transmission line for Suki Kinari Project

    0 shares
    Share 0 Tweet 0
  • 10 Most Attractive Women Lawyers

    0 shares
    Share 0 Tweet 0
Times of Pakistan

About Times Of Pakistan

kralbetbetturkeyikimislibahis1xbetm.infohipas.infohttps://www.wiibet.com/restbetcdn.com

Other Categories

  • Beautiful Pakistan
  • Fashion News
  • Funny News
  • Viral Videos
  • Weird News

Recent Posts

  • Pakistan to work closely with China on realizing shared vision of prosperity: PM
  • Pakistan not in isolation, foreign policy moving in right direction: Hina
  • Self-reliance, tactical solutions needed to address economic problems: PM

Times Of Pakistan © 2021. Design & Developed by E2E Solution Providers.

No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In