Dalian Wanda's $1Billion Circular Quay Project Approved

Chinese property development giant Dalian Wanda has received approval for its $1 billion hotel and apartment project at Sydney's Circular Quay.

The City of Sydney Council unanimously approved Dalian Wanda's development proposal, which includes a 57-storey 184-apartment residential tower and a 179-room hotel.

The project, located on a 4040 sqm site bounded by 1 Alfred Street, 19-31 Pitt Street and 31A Pitt Street, will include four penthouses.

The apartments will range from 50 to 600 sqm in size with four studios, 13 one-bedroom units, 87 two-bedroom units, and 80 units of three bedrooms or more.

Wanda said it plans to launch the apartments for sale in 2016.

The second tower in the project is the Wanda Vista five-star 110-metre hotel which will include a 620-person ballroom.