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"Dream - Billionaire Sukanto Tanoto through his company Pacific Eagle Real Estate has purchased a luxury hotel in Shanghai, China. The luxury hotel referred to is Wanda Reign on the Bund. Sukanto bought it from the Chinese developer Dalian Wanda Group (Wanda Group)."
The translation of "Harga Fantastis" to English is "Fantastic Price".
"Although the number of purchase transactions has not been published, the real estate website Mingtiandi reported that Pacific Eagle paid as much as US$240 million or around Rp3.7 trillion."
"Wanda Reign on the Bund has 193 rooms. This hotel is located on the historic waterfront Bund in Shanghai. This area is famous for its Western-style art deco buildings built in the late 19th and early 20th centuries."
According to Forbes, Wanda Group opened this hotel in June 2016. Wanda reportedly spent up to 3.4 billion yuan to build the seven-star hotel, making it one of the most expensive hotels ever built in China.
"As a long-term investor, Pacific Eagle Real Estate acquired the Shanghai Wanda Reign on the Bund for capital preservation," said a Pacific Eagle spokesperson via email.
"Hotel Wanda Reign will be the second hotel investment by Pacific Eagle after Mondrian Duxton Singapore with 304 rooms, which opened last July. Pacific Eagle is part of the Royal Golden Eagle (RGE) group owned by the Tanoto family, which has made breakthroughs in the Singapore real estate market in recent years."
"In 2022, the company purchased the Tanglin Shopping Center in the Orchard Road shopping area of Singapore for US$645 million. Plans to redevelop the property are still not completed. In addition to property investment in Singapore, Pacific Eagle, in collaboration with China Resources Capital, is developing the Pacific Eagle Center, a 21-story office tower in Beijing."
"The company is also developing Prospect Park, a business area consisting of 19 office blocks in the capital of China. Additionally, there is a residential development in Rizhao City in Shandong province, southeastern China. Outside of Asia, Pacific Eagle has commercial properties in London and Munich."
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