Skip to content Skip to Search
Skip navigation

ADIA and Mubadala join $8.3bn China shopping mall deal

Wanda Plaza in Changzhou, Jiangsu province. Dalian Wanda Commercial Management Group will retain 40 percent of Newland Commercial Management China Daily via REUTERS
Wanda Plaza in Changzhou, Jiangsu province. Dalian Wanda Commercial Management Group will retain 40 percent of Newland Commercial Management

Two Abu Dhabi state-backed companies are part of a group which has agreed to invest $8.3 billion to acquire a 60 percent stake in Chinese property major Dalian Wanda’s shopping mall subsidiary.

The investment was led by Hong Kong private equity firm PAG, along with Platinum Peony B 2023 RSC, a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company, Citic Capital and New York-headquartered Ares Management.



Dalian Wanda Commercial Management Group will retain 40 percent of Newland Commercial Management, the holding company of Zhuhai Wanda Commercial Management Group, PAG said in a statement.

“We like the competitive edge and first-mover advantage that Newland has built, and we think these advantages will allow it to generate stable and growing cash flow for investors,” said David Wong, partner and co-head of private equity at PAG.

Newland manages 496 large-scale shopping malls across China.

The investment will facilitate corporate governance independent from its former parent, provide better incentives for its management, and support Newland’s continued operational improvement, the statement said.

Last December, PAG and Dalian Wanda announced signing an investment framework to restructure Zhuhai Wanda Commercial Management.  

Latest articles

Aramco pipelines

BlackRock-led investors to refinance Aramco Pipelines stake

Investors in Saudi Aramco’s gas pipeline network, led by BlackRock, the world’s largest asset manager, are planning to issue $3 billion in bonds to refinance a loan that backed their purchase of a stake in the network.   The consortium of investors took a $13.4 billion bridge loan in 2021 to acquire a 49 percent stake […]

Over the first half of the year Sanad Group signed deals with international airlines including Asiana Airlines and Deucalion Aviation

Mubadala-backed Sanad Group reports 53% revenue growth

Sanad Group, the Abu Dhabi-based global aerospace engineering and leasing company, has seen revenues increase by more than half over the first six months of the year. Figures released to AGBI show revenue totalling AED2.3 billion ($620 million) was reported in the first half of the year, up from AED1.5 billion over the same period […]

Malaysia’s HSS Engineers Berhad and its emirati consultancy HSS signed the deal top oversee construction with the Baghdad municipality

UAE company in joint venture to build Baghdad metro

A Malaysian engineering company and its UAE affiliate have jointly won a $316 million contract to oversee the construction of the new Baghdad metro. The building of the planned 148-kilometre network and its 64 stations across the Iraqi capital was slated to begin this month and end in 2029. This timeline might be delayed, however, […]