(MENAFN) Chinese Wanda Group said it will invest USD900 million in a five-star hotel and apartment complex in Chicago, as it acquires more assets in the states, The Peninsula Qatar reported.
The project will be located near the intersection of the Chicago River and Lake Michigan and will be the city's third tallest building with a height of 350 meters, the company said.
It will be mixed-use development, consisting of a 240-room five-star hotel, residential units and commercial space, according to the statement posted by the company.
"The Chicago project is just the first step of Wanda's property investment in the US," owner of the project said, adding "the company would invest in five-star hotels in major US cities including New York and Los Angeles within a year."
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