AsianFin -- Wang Jianlin, the Chairman of Wanda Group, has sold five Wanda Plazas since the beginning of 2025, a move driven by the need for financing.

The main reason for selling assets is to raise funds, particularly through insurance capital, which is currently abundant. Although the ownership has changed, many of these assets are still managed and operated by Wanda Commercial Management.

As bank loans remain challenging to secure, Wanda has limited financing channels, forcing them to resort to asset sales and equity pledges to generate capital.

The assets being sold are mostly non-core properties, with Wanda retaining those projects with stable cash flow. Since 2024, New China Life Insurance has been actively purchasing Wanda Plaza properties, acquiring a total of 14.

Sources indicate that the Zhuhai Wanda Commercial Management remains committed to its IPO plans, but there has been little progress. The urgency for the listing has lessened following the introduction of new strategic investors, though the scale of assets for the IPO is expected to shrink. The majority of the Wanda Plazas being sold are loss-making, and selling them is essential to avoid further financial strain.