Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
Hong Kong-listed real estate business Shui On Land has recently introduced that its subsidiary, Shanghai Ruilou Enterprise Management, has definitely formed a consolidated venture with state-owned business Shanghai Pucheng to execute a redevelopment plan at Pujiang Community, in the Minhang district of Shanghai, China.
She highlights that the group has certainly also embarked on an additional large metropolitan remodelling project 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 improvement, providing us assurance in the coming future opportunities of the Zhaojia Lou project,” Wang adds in.
According to an April 20 news release by Shui On Land, the new project will consist of domestic, business and also secondary establishments. The mutual venture is anticipated to maintain the one-of-a-kind background and even culture of Pujiang Town, while redeveloping it into a “brand-new landmark of Shanghai”.
“Over the past three decades, Shui On Land has certainly established a strong foothold in Shanghai and joined renovation programs with proven abilities in master planning, cultural preservation, neighborhood procedure and even metropolitan regeneration,” states Jessica Wang, Chief Executive Officer of Shui On Land.
The project will see the redevelopment of Zhaojia Lou Ancient Town, a place that has actually been recognized by the Shanghai municipal government for urban renewal. Recognized for its canals and old water towns, it is a well-known tourism area. In 2015, it was ranked an AAAA tourist attraction by Chinese authorities, suggesting the place brings in over 500,000 guests each year. Found alongside the Shanghai Shenjiahu Expressway as well as the Shanghai North-South Elevated Road, the location is flanked by 2 train lines.
The Shui-On Land-Shanghai Pucheng joint project will carry out the redevelopment of real estate parcels located in Pujiang Area, which reach to Jiageng Road to the eastern, Yaojia Bang to the south, Huichi Road to the west, and also Xiaoyan Lake to the north.
Shui On Land is the flagship property development firm of the Shui On Group, a building-materials also construction company started by Hong Kong billionaire Vincent Lo.