PERHAPS more of a coincidence than anything else, the Marina D’Or organisation which owns significant empty properties in Oropesa del Mar near Valencia attended the CITM, the most important tourist fair in China in October of this year.
Within a few weeks it is reported that Chinese billionaire Wang Jianlin who owns the Dalian Wanda investment company was in discussion with Jesus Ger owner of the resort who is looking to sell 75 per cent for a reported €1.2 billion.
The Wanda group through its Madrid office has been investing heavily in Spain over the past year or so including purchasing the Art Deco Edificio España building in Madrid from Santander which it intends to refurbish.
An investment of this type would certainly be in keeping with the company’s strategy and it is possible that it would look to develop the entire area into an upmarket holiday resort including possibly a casino.
In addition to property, the talented Wang Jianlin has also taken a 20 per cent stake in football club Atletico Madrid.