Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
Hong Kong-listed property firm Shui On Land has declared that its subsidiary, Shanghai Ruilou Enterprise Management, has definitely created a joint project with state-owned business Shanghai Pucheng to carry out a redevelopment work at Pujiang Town, in the Minhang district of Shanghai, China.
Shui On Land is the front runner real property project firm of the Shui On Group, a building-materials plus building business established by Hong Kong billionaire Vincent Lo.
“Over the past 30 years, Shui On Land has indeed established a strong footing in Shanghai plus participated in urban renewal programs with proven capabilities in master planning, cultural security, neighborhood operation and metropolitan regeneration,” says Jessica Wang, CEO of Shui On Land.
The project will certainly see the redevelopment of Zhaojia Lou Ancient Town, a location that has actually been recognized by the Shanghai local government for renovation. Understood for its canals and even ancient water towns, it is a famous vacation area. In 2015, it was rated an AAAA tourist destination by Chinese authorities, indicating the area brings in over 500,000 guests each year. Located beside the Shanghai Shenjiahu Expressway and also the Shanghai North-South Raised Roadway, the area is flanked by two train lines.
According to an April 20 bulletin by Shui On Land, the brand-new property development will certainly consist of household, business and ancillary centers. The shared venture is anticipated to maintain the special history along with heritage of Pujiang Community, while redeveloping it into a “new landmark of Shanghai”.
She highlights that the group has also commenced an additional large urban restoration plan in Shanghai at Panlong Tiandi. “Our success in the Panlong Tiandi work is a powerful testament to the group’s capacities in the urban-village restoration, offering us confidence in the near future prospects of the Zhaojia Lou venture,” Wang adds.
The Shui-On Land-Shanghai Pucheng joint venture will carry out the redevelopment of land parcels positioned in Pujiang Village, which stretch to Jiageng Road to the eastern, Yaojia Bang to the south, Huichi Roadway to the west, and also Xiaoyan Lake to the north.