The Wanda Group, China's largest commercial property company, is to build a 134-room luxury boutique hotel and spa alongside 193 residences and new public gardens on prime Beverly Hills real estate.

"Beverly Hills is known worldwide as a city of sophistication and style. We believe building this project will complete the western gateway to the city," said David Shu, General Manager of Wanda Beverly Hills Properties.

Designed by Richard Meier & Partners with developer The Athens Group, the recently revised plan has reduced the number of residences to make space for the hotel, while not changing the height or density of the development.

The move comes as the improving economy has made the hotel a more attractive commercial proposition.

Wanda claims this addition will result in an increase of more than US$4.2m (€3.8m, £2.7m) per year of direct revenues, for a total of US$6.9m (€6.3m, £4.4m) a year being projected.

"We're honoured to create this state-of-the-art, elegantly crafted building, which will become an important addition to the fabric of Beverly Hills," said Michael Palladino, design partner of Richard Meier & Partners.

Wanda says it hopes to have building entitlements in place by the end of 2016 and anticipates the construction will take around 30 months. Details of the spa, including the size, are still being determined.

Founded in 1988, the Wanda Group owns 71 luxury hotels, mostly in China, with plans to open a Chicago hotel around the same time as One Beverly Hills. The company also owns AMC Movie Theaters, as well as various operations in commercial property, theme parks, entertainment and tourism, department stores, and e-commerce. In 2014, its annual income reached US$38.8 billion.

The new scheme – called One Beverly Hills – will be located on Wilshire Boulevard at the site of the former Robinsons-May department store, which was demolished last year. In addition to the spa, hotel and residences, it will also feature public gardens, open space and green space designed by OLIN landscape architecture. There will be approximately three-quarters of an acre of public gardens and the entire project will be certified LEED Silver.

"One Beverly Hills' design is a wonderful integration of design and functionality," said Rohan a'Beckett, deputy general manager - investments and securities at Wanda Group. "The combination of world-class residences with a luxury boutique hotel on this legendary property is a perfect fit for Beverly Hills.”

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