Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
According to an April 20 press release by Shui On Land, the new project will certainly include household, industrial and also supplementary facilities. The shared venture is expected to maintain the distinct history and heritage of Pujiang Town, while redeveloping it into a “new spots of Shanghai”.
The project will certainly view the redevelopment of Zhaojia Lou Ancient Town, a location that has been determined by the Shanghai community government for urban renewal. Understood for its canals and even old water communities, it is a famous tourist spot. In 2015, it was rated an AAAA tourism attraction by Chinese authorities, meaning the area brings in over 500,000 tourists each year. Found next to the Shanghai Shenjiahu Expressway as well as the Shanghai North-South Elevated Roadway, the area is flanked by two metro lines.
The Shui-On Land-Shanghai Pucheng joint venture will certainly take on the redevelopment of real estate parcels positioned in Pujiang Area, that extend to Jiageng Road to the east, 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 indeed created a strong foothold in Shanghai and even joined renovation programs with tried and tested capacities in master planning, cultural preservation, area procedure along with metropolitan regeneration,” says Jessica Wang, CEO of Shui On Land.
She accentuate that the group has certainly also commenced an additional large-scale urban remodelling project in Shanghai at Panlong Tiandi. “Our results in the Panlong Tiandi work is a solid testimony to the group’s capabilities in the urban-village remodelling, offering us assurance in the coming future leads of the Zhaojia Lou plan,” Wang adds in.
Hong Kong-listed real estate firm Shui On Land has introduced that its branch, Shanghai Ruilou Enterprise Management, has indeed formed a joint project with state-owned business Shanghai Pucheng to accomplish a redevelopment work at Pujiang Community, in the Minhang district of Shanghai, China.
Shui On Land is the front runner real property development firm of the Shui On Group, a building-materials also building firm founded by Hong Kong billionaire Vincent Lo.