Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
The plan will view the redevelopment of Zhaojia Lou Ancient Town, a location that has actually been identified by the Shanghai municipal government for rehabilitation. Understood for its canals and ancient water villages, it is a well-known tourism place. In 2015, it was rated an AAAA travellers destination by Chinese authorities, indicating the place brings in over 500,000 guests each year. Located alongside the Shanghai Shenjiahu Expressway and also the Shanghai North-South Elevated Road, the area is flanked by two subway lines.
According to an April 20 press release by Shui On Land, the brand-new property development will feature domestic, commercial and also ancillary establishments. The joint venture is assumed to protect the unique background along with culture of Pujiang Community, while redeveloping it right into a “new spots of Shanghai”.
Shui On Land is the flagship real property project firm of the Shui On Group, a building-materials plus construction business started by Hong Kong billionaire Vincent Lo.
The Shui-On Land-Shanghai Pucheng joint project will certainly carry out the redevelopment of property parcels positioned in Pujiang Town, which reach to Jiageng Roadway to the eastern, Yaojia Bang to the south, Huichi Road to the west, and Xiaoyan Lake to the north.
Hong Kong-listed real estate company Shui On Land has recently announced that its branch, Shanghai Ruilou Enterprise Management, has definitely developed a joint project with state-owned business Shanghai Pucheng to perform a redevelopment plan at Pujiang Community, in the Minhang district of Shanghai, China.
“Over the past thirty years, Shui On Land has created a solid foothold in Shanghai plus participated in urban renewal campaigns with tried and tested abilities in master preparation, cultural conservation, area operation and even urban regrowth,” claims Jessica Wang, CEO of Shui On Land.
She showcase that the group has likewise started one more large urban renovation project in Shanghai at Panlong Tiandi. “Our success in the Panlong Tiandi venture is a strong testimony to the group’s capabilities in the urban-village renovation, offering us faith in the near future opportunities of the Zhaojia Lou venture,” Wang adds.
