Chinese offshore investment

Dalian Wanda launches One Nine Elms flats in Hong Kong

PUBLISHED : Wednesday, 08 July, 2015, 12:00am
UPDATED : Tuesday, 14 July, 2015, 5:27pm

Dalian Wanda Group is seeking to lure buyers by offering hotel-style service at apartments in the second residential block at One Nine Elms in London.

"This is a rare offering in the London market," said Tim Gawthorn, a sales and marketing director at Wanda One, a British subsidiary of Dalian Wanda.

Apartments will be offered on the upper floors of the 42-storey River Tower. Residents will have full access to the Wanda Vista Hotel's facilities, including gymnasium, spa, swimming pool and restaurants. They can also order room service to their apartments and enjoy exclusive access to the concierge and butler service.

While the concept of homes linked to hotels is relatively new to Britain, it is already well known in Hong Kong and the rest of Asia.

"We will set an example," said Gawthorn, adding he expected more developers to follow.

Nine Elms, the largest regeneration project in Europe, is transforming 3km of London's riverside into a residential quarter, international business district and cultural and leisure destination. The project, which marks Wanda's international debut, includes River Tower and City Tower, linked by the Wanda Vista, the group's first hotel outside China.

The first batch of apartments in the 103-unit River Tower was launched in Britain in May. About 15 to 20 units were offered for sale in Hong Kong at an average of £1,863 (HK$22,490) per square foot.

Wanda said the same product mix was offered globally.

Last year, the company launched the City Tower, which consists of 330 luxury apartments. Gawthorn said the units were almost sold, with buyers from around the world.