Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
Hong Kong-listed real estate business Shui On Land has announced that its branch, Shanghai Ruilou Enterprise Management, has formed a joint project with state-owned enterprise Shanghai Pucheng to execute a redevelopment work at Pujiang Town, in the Minhang district of Shanghai, China.
Shui On Land is the front runner real estate development company of the Shui On Group, a building-materials also building company established by Hong Kong billionaire Vincent Lo.
The plan will view the redevelopment of Zhaojia Lou Ancient Community, an area that has been determined by the Shanghai community government for renovation. Understood for its canals and even ancient water villages, it is a popular vacation place. In 2015, it was rated an AAAA travellers spots by Chinese authorities, suggesting the place draws in over 500,000 visitors yearly. Found beside the Shanghai Shenjiahu Expressway and the Shanghai North-South Elevated Roadway, the area is flanked by two train lines.
According to an April 20 press release by Shui On Land, the brand-new development will certainly include domestic, commercial and secondary centers. The joint venture is anticipated to preserve the unique past history and even culture of Pujiang Town, while redeveloping it right into a “brand-new landmark of Shanghai”.
“Over the past thirty years, Shui On Land has indeed created a strong foothold in Shanghai plus participated in urban renewal programs with tested capabilities in master planning, societal conservation, area operation and metropolitan regrowth,” claims Jessica Wang, CEO of Shui On Land.
The Shui-On Land-Shanghai Pucheng joint project will take on the redevelopment of property parcels situated in Pujiang Area, that reach to Jiageng Road to the eastern, Yaojia Bang to the south, Huichi Roadway to the west, as well as Xiaoyan Lake to the north.
She showcase that the group has certainly likewise embarked on an additional large-scale metropolitan improvement job in Shanghai at Panlong Tiandi. “Our triumph in the Panlong Tiandi venture is a solid testament to the group’s capacities in the urban-village restoration, providing us assurance in the coming future opportunities of the Zhaojia Lou venture,” Wang adds.