China Oceanwide Holdings has plans to focus on L.A. project, according to a filing with the Hong Kong stock exchange.
Oceanwide has spent about $3.5 billion on U.S. real estate developments.
“Amid the vague prospect of an economic recovery and tighter regulations on the real estate development industry, the group’s liquidity issues will inevitably prolong into 2022,” Oceanwide said in the filing.
The L.A. project covers a total land area of approximately 18,662 square meters (tk square feet) with a gross floor area of approximately 138,249 square meters (1.5 million square feet). It is planned to be developed into a large-scale, mixed-use, urban-commercial complex with three upscale condominiums, a luxury five-star hotel under the Park Hyatt brand, which is the top hotel brand under the Hyatt Group, a shopping mall with a gross floor area of 15,476 square meters (16
