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Chinese investors eye deals in German, French real estate
2012-12-24
Brief:Chinese firms Wanda Group have entered a strategic partnership with Greenland and Spanish Meliá Hotels in order to promote global market expansion.
Chinese investors are becoming more visible in European real estate, particularly in the hotel sector, with three new deals in prospect in Germany and France by firms that are new to the continent - Greenland Group, Wanda Group and BCT International Investment.

Greenland and Spanish Meliá Hotels International have entered a strategic partnership to promote international growth in China and Europe. Greenland is thus one of the first Chinese hotel groups to open an own-brand hotel in Europe, and plans over the near and medium term to grow its brand in Europe and China. Meliá will profit from Greenland’s know-how in China to open up new hotels in that country. The partnership also entails co-operation in training, global hotel distribution systems and procurement.

Separately, BCT International controlled by one of the 10 richest men in China Lu Changqing, has secured a purchase option for a total area of 270,000 sq.m. in a business park being offered for €94m by the City of Bad Vilbel near Frankfurt where it plans a wholesale centre as a showcase for China’s goods, plus several office headquarters.

In France, the Wanda Group, a hospitality conglomerate controlling around €30bn of assets and an investment war chest reportedly of €23bn, is preparing its entry into that market, according to its Vice-President Hu Zhanghong. Speaking at the opening of an exhibition devoted to the Chinese painter Shi Qi, he told AFP: "We firmly believe that there are many opportunities for us on the French market but we need to study it more thoroughly. We are only at the beginning… We are looking primarily at hotel management companies and department store chains." Wanda is already working with the French Accor hotel group in its home country.

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