Wanda Group, led by Chinese billionaire Wang Jianlin, has sold 48 Wanda Plaza properties to a consortium of investors, including Taikang (Zhuhai) Management Consulting and Tencent Holdings, said the State Administration for Market Regulation.

The transaction highlighted ongoing consolidation within China's commercial real estate market, with major tech and financial firms increasingly eyeing opportunities in this sector.

According to the market regulator's website, the buyers, through a jointly established venture, will acquire 100 percent ownership of the target companies managed by Dalian Wanda Commercial Management Group. The properties span key first- and second-tier cities, including Beijing, Guangzhou, Chengdu, Hangzhou, Nanjing and Wuhan.

The SAMR's announcement confirmed that the deal has been approved unconditionally, though it did not disclose the transaction value.