Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
The Shui-On Land-Shanghai Pucheng joint venture will certainly take on the redevelopment of property parcels positioned in Pujiang Town, which stretch to Jiageng Roadway to the east, Yaojia Bang to the south, Huichi Roadway to the west, and Xiaoyan Lake to the north.
She accentuate that the group has actually likewise commenced another large-scale metropolitan improvement project in Shanghai at Panlong Tiandi. “Our triumph in the Panlong Tiandi project is a powerful testimony to the group’s capacities in the urban-village improvement, giving us confidence in the near future leads of the Zhaojia Lou venture,” Wang includes.
Shui On Land is the flagship real property project business of the Shui On Group, a building-materials also construction firm started by Hong Kong billionaire Vincent Lo.
Hong Kong-listed property company Shui On Land has recently introduced that its subsidiary, Shanghai Ruilou Enterprise Management, has definitely created a joint venture with state-owned enterprise Shanghai Pucheng to perform a redevelopment plan at Pujiang Town, in the Minhang district of Shanghai, China.
The project will certainly see the redevelopment of Zhaojia Lou Ancient Community, a location that has been identified by the Shanghai local government for renovation. Understood for its canals and even old water towns, it is a famous tourism place. In 2015, it was rated an AAAA tourist destination by Chinese authorities, indicating the place attracts over 500,000 guests each year. Located alongside the Shanghai Shenjiahu Expressway as well as the Shanghai North-South Raised Roadway, the location is flanked by 2 metro lines.
“Over the past three decades, Shui On Land has certainly created a solid grip in Shanghai plus joined urban renewal programs with tested capabilities in master planning, cultural conservation, neighborhood procedure along with metropolitan regeneration,” states Jessica Wang, CEO of Shui On Land.
According to an April 20 news release by Shui On Land, the new property development will consist of household, business as well as ancillary facilities. The mutual project is expected to maintain the unique past history and even heritage of Pujiang Community, while redeveloping it into a “new spots of Shanghai”.
