Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
The Shui-On Land-Shanghai Pucheng joint venture will embark on the redevelopment of property parcels situated in Pujiang Town, that extend to Jiageng Roadway to the eastern, Yaojia Bang to the south, Huichi Roadway to the west, as well as Xiaoyan Lake to the north.
“Over the past 30 years, Shui On Land has developed a solid grip in Shanghai plus took part in rehabilitation campaigns with proven abilities in master planning, ethnic conservation, community procedure and even city regeneration,” states Jessica Wang, Chief Executive Officer of Shui On Land.
According to an April 20 bulletin by Shui On Land, the new project will include residential, industrial as well as supplementary facilities. The joint project is anticipated to protect the distinct history along with heritage of Pujiang Community, while redeveloping it into a “new site of Shanghai”.
She showcase that the group has actually likewise started another large urban restoration plan in Shanghai at Panlong Tiandi. “Our results in the Panlong Tiandi venture is a strong testament to the group’s capabilities in the urban-village renovation, providing us confidence in the future leads of the Zhaojia Lou venture,” Wang adds.
The project will view the redevelopment of Zhaojia Lou Ancient Town, an area that has actually been identified by the Shanghai municipal government for rehabilitation. Recognized for its canals and also old water communities, it is a famous tourism spot. In 2015, it was rated an AAAA tourism spots by Chinese authorities, indicating the location brings in over 500,000 visitors annually. Located next to the Shanghai Shenjiahu Expressway as well as the Shanghai North-South Raised Road, the location is flanked by two subway lines.
Hong Kong-listed real estate company Shui On Land has already declared that its subsidiary, Shanghai Ruilou Enterprise Management, has formed a consolidated move with state-owned venture Shanghai Pucheng to carry out a redevelopment plan at Pujiang Town, in the Minhang district of Shanghai, China.
Shui On Land is the front runner real estate development firm of the Shui On Group, a building-materials and construction firm founded by Hong Kong billionaire Vincent Lo.