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China's richest man bids to buy star Madrid skyscraper

Published on Mar 20, 2014 2:04 AM
 
Visitors outside the historic Madrid skyscraper. Property magnate Wang Jianlin has offered 260 million euros (S$457 million) to the owner, Spanish banking giant Santander, to buy the 25-storey building. - PHOTO: AFP

MADRID (AFP) - China's richest man Wang Jianlin has bid to buy a historic Madrid skyscraper, offering hope that a key part of the city centre could be rejuvenated, a source said Wednesday.

Spanish media said property magnate Wang had offered 260 million euros (S$457 million) to the owner, Spanish banking giant Santander, to buy the 25-storey Spain Building.

"There is an offer by Wang Jianlin through his real estate group Dalia Wanda, but there are also other offers," a source close to the matter told AFP, declining to confirm the amount.

The president of the Madrid region, Ignacio Gonzalez, said a deal had been struck by Wanda and Santander, but business sources would not confirm this.

 
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