Chuan Wanda Group acquires Sydney Seaview office building for 2.2 billion yuan

China's Dalian Wanda Group bought an office building at a price of 425 million Australian dollars (an equivalent of about 2.2 billion yuan) and will turn it into an apartment building that overlooks the Sydney Harbour, the Sydney Morning Herald reported.

Wanda bought the building at 1 Alfred Street, called Gold Fields House, at the Ring pier. It is expected to be converted into an upscale luxury apartment. The building was previously jointly controlled by Blackstone Group and other pension fund companies, and was marketed by JLL and CB Richard Ellis (CBRE).

About 8 international and local companies have scrambled to bid for the office, and Lend Lease, Australia's largest listed developer, and Shimao property of Hong Kong-listed companies are also bidders.