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Surgeon-turned-tycoon takes gamble on LA skyline ahead of Olympics
The Kali Pradip Chaudhuri-owned company is set to finish the redevelopment work in time for the 2028 Olympics.
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Staff Reporter - Tue, 03, Mar 2026
- 03:33 EST
- 29
Oceanwide Plaza complex and Kali Pradip Chaudhuri / Wikimedia commons and Kali Pradip Chaudhuri via Facebook
Predicting a recovery in business prospects and footfall in downtown Los Angeles with the arrival of the upcoming World Cup and Olympic Games, the KPC Group, a California-based multibillion-dollar global conglomerate, has announced plans to acquire the abandoned Oceanwide Plaza complex.
KPC owner Kali Pradip Chaudhuri, in partnership with Australian construction company Lendlease, has reached an agreement to purchase the Oceanwide Plaza complex for $470 million. The KPC Group also plans to invest an additional $800 million to complete the project.
ALSO READ: Groundbreaking ceremony held for Kali hotel in Inglewood
Construction on the large residential, hotel and retail development in Los Angeles stalled in 2019 due to financial difficulties faced by the former Chinese owner, who had invested more than $1 billion.
Since the 2020 pandemic, downtown Los Angeles has faced multiple setbacks, including devastating wildfires and violent clashes between protesters and law enforcement. These events have severely impacted both commercial property values and footfall to local businesses.
Two years ago, the three buildings gained global attention when base jumpers, copper thieves and graffiti artists began entering the vacant condos, with artists spray-painting the large windows of the structures, which reach up to 55 stories.
The colorful graffiti has attracted photographers and enthusiasts, but Los Angeles city officials responded by spending $3.8 million on a police presence and a 14-foot-high fence to prevent trespassing, as noted in court filings. Despite these measures, the buildings remain covered in graffiti.
However, the financial setbacks faced by the city are now being corrected, and the area is projecting growth in the coming years, especially with the upcoming World Cup and Olympic Games.
Kali Pradip Chaudhuri, a former orthopedic surgeon turned health care tycoon who recently delved into real estate development, is expected to finalize the deal by April, hoping to finish most of the roughly half-finished trio of skyscrapers in time for the 2028 Olympics, according to KPC Group.
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