China’s Wanda Group to build US$900 million mixed-use tower in Chicago

China’s Wanda Group, led by billionaire Wang Jianlin, has announced plans to invest US$900 million in a five-star hotel and apartment complex in Chicago, Illinois, according to The Malay Mail Online.

The 350-metre tall tower will be Chicago’s third-tallest building and will have a 240-room luxury hotel. The construction of the mixed-use development is expected to be completed by 2018.

“The Chicago project is just the first step of Wanda’s property investment in the United States,” Wang commented, and added Wanda plans to invest in five-star hotels in other major US cities “within a year”.

Wanda Group project, Chicago