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The Real Deal Los Angeles

Wanda Group is an “exceptional friend” to LA: Mayor Garcetti

Forget Beverly Hills; Wanda Group's Wang Jianlin is wooing Hollywood

October 18, 2016 03:14PM

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Wang Jianlin and Eric Garcetti share a hug at the event Monday night (Credit: Patrick Fallon/Bloomberg via Getty Images)

Wang Jianlin and Eric Garcetti share a hug at the event Monday night (Credit: Patrick Fallon/Bloomberg via Getty Images)

The Wanda Group may have foes — for example, developer Beny Alagem, who has taken beef with Wanda Beverly Hills’ proposed condo development next door to his Beverly Hilton. But Wanda has a friend in Hollywood, according to Los Angeles Mayor Eric Garcetti.

“Dalian Wanda has been an exceptional friend to Los Angeles,” he said at an event on Tuesday, according to the Wrap, alluding to Wanda’s role in the movie business as well as its real estate ventures.

Wang Jianlin, Wanda’s founder and China’s richest man, addressed Hollywood power players Monday night at a gala unveiling his $8 billion film studio in Qingdao, China.

Introducing a 40 percent rebate to attract American filmmakers to bring their production overseas, Wang showed off the support of Cheryl Boone Isaacs, the president of the Academy of Motion Picture Arts and Sciences, as well as Garcetti, both of whom spoke at the gathering.

Although he didn’t mention One Beverly Hills by name, Garcetti expressed gratitude for Wanda’s real estate investment in L.A.

When complete, the 408-acre Qingdao Movie Metropolis will house the world’s largest indoor sound stage. Speaking at the gala, Jianlin said the incentives, which will be partially funded by Wanda as well as regional governments, will total $750 million over the next five years.

Among the attendees at Monday night’s event, held at L.A. County Museum of Art, were Screening Room founder Sean Parker, Lionsgate’s Patrick Wachsberger, MGM CEO Gary Barber and Marvel Studios chairman Avi Arad. [The Wrap]Cathaleen Chen

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