(MENAFN) Chinese property giant Wanda plans to invest USD1 billion in development near Sydney Harbour, BBC reported.
The news came after US equity firm Blackstone said it was selling a Sydney office building to the group for USD327 million.
Gold Fields House is in the city's prime central business district and overlooks the Sydney Harbour.
The firm said that it plans to build a luxury hotel as well as residential and retail outlets in the area.
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