Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
Hong Kong-listed building business Shui On Land has declared that its subsidiary, Shanghai Ruilou Enterprise Management, has definitely developed a joined project with state-owned venture Shanghai Pucheng to perform a redevelopment plan at Pujiang Town, in the Minhang area of Shanghai, China.
“Over the past three decades, Shui On Land has indeed established a solid footing in Shanghai and joined urban renewal projects with tested capabilities in master planning, cultural conservation, neighborhood operation and metropolitan regrowth,” claims Jessica Wang, CEO of Shui On Land.
According to an April 20 news release by Shui On Land, the new property development will certainly feature household, industrial as well as ancillary establishments. The mutual project is anticipated to protect the unique history and even heritage of Pujiang Community, while redeveloping it into a “new spots of Shanghai”.
She showcase that the group has also started an additional massive city remodelling project in Shanghai at Panlong Tiandi. “Our success in the Panlong Tiandi venture is a solid testimony to the group’s abilities in the urban-village improvement, providing us faith in the coming future opportunities of the Zhaojia Lou project,” Wang includes.
The Shui-On Land-Shanghai Pucheng joint venture will undertake the redevelopment of real estate parcels positioned in Pujiang Area, that reach to Jiageng Road to the eastern, Yaojia Bang to the south, Huichi Road to the west, and also Xiaoyan Lake to the north.
The project will certainly see the redevelopment of Zhaojia Lou Ancient Town, an area that has actually been identified by the Shanghai municipal government for renovation. Recognized for its canals and ancient water towns, it is a well-known vacation place. In 2015, it was rated an AAAA tourist attraction by Chinese authorities, meaning the place attracts over 500,000 tourists annually. Found beside the Shanghai Shenjiahu Expressway and the Shanghai North-South Elevated Road, the area is flanked by 2 metro lines.
Shui On Land is the flagship property project company of the Shui On Group, a building-materials also construction firm established by Hong Kong billionaire Vincent Lo.
