A red lantern-shaped theatre is home to the Han Show in Wuhan, in tune with Beijing's effort to develop 'cultural industries'.image © stufish entertainment architects

Wang Jianlin, China’s second-richest man, made his fortune building shopping malls. Of late, however, he has shown more interest in becoming an entertainment mogul.

Across the country, the property unit of Dalian Wanda – the group that Mr Wang controls and chairs – owns 159 shopping precincts and 71 luxury hotels. And four weeks ago, a $3.7bn IPO of Dalian Wanda Commercial Properties valued the business at $28bn – making it the world’s second-largest purely commercial developer. But Mr Wang sees the group’s future elsewhere.

A lavish opening of his Rmb7bn ($1.1bn) movie theme park and nationalist-themed circus show in Wuhan, the capital of central China’s Hubei province, recently provided a large clue. “Wanda’s income mainly comes from real estate,” Mr Wang said at the event. “But we think the period of high growth for real estate has come to an end. Wanda needs to transform.”........Continue Reading

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