Quote:
Originally Posted by Steely Dan
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"The plan for the Lakeshore East tower, with completion foreseen in 2018, was announced by Beijing-based Wanda Group, controlled by mainland China’s richest man, Wang Jainlin. Wanda would take a 90 percent stake in the building."
…so I'm assuming that means 90% of the equity portion, not 90% of the total cost, right? An American developer would never front 90% of the cost, but I'm not sure how things work in China!