Billionaire Chinese real estate developer Wang Jianlin moves into Indian Market

Billionaire Wang Jianlin is wading into India’s property market, with plans to invest up to $10bn in a vast industrial township of Haryana state,which is adjacent to New Delhi. Mr Wang’s Dalian Wanda Group, China’s largest commercial property developer, on Friday signed a preliminary agreement with Indian authorities to develop “Wanda Industrial New City”, in Haryana state , which is adjacent to New Delhi. The Chinese company said construction of the first phase of the project — which Haryana authorities said would span 13 square kilometres and include both an industrial and entertainment park — could start this year. Dalian Wanda foresees a project that would eventually spread over 100 square kilometres, making it one of India’s largest developments. A preliminary agreement was signed in Beijing, where chief minister of Haryana Manohar Lal Khattar & Narendra Modi’s is on a roadshow to woo Chinese investment to his state.Mr Modi is an admirer of China’s economic achievement & wants to attract Chinese financing and engineering prowess to help modernise India’s infrastructure and economy.

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