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China's Dalian Wanda to invest $1b in Sydney
Wanda
Photo taken on Sept 28, 2013 shows the night view of the Wanda Plaza in Wuhan, Hubei province. [Photo/IC]

China's biggest commercial property group Dalian Wanda Group said it plans to invest $1 billion in a major property development close to Sydney Harbour, its second major investment in Australia.

US private equity firm Blackstone Group said earlier that it has agreed to sell a prime Sydney office building to China's Dalian Wanda Group for about A$415 million ($327 million).
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