Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
The plan will certainly find the redevelopment of Zhaojia Lou Ancient Town, an area that has actually been determined by the Shanghai local government for urban renewal. Understood for its canals and old water towns, it is a famous tourist spot. In 2015, it was rated an AAAA tourism destination by Chinese authorities, suggesting the place draws in over 500,000 tourists annually. Found beside the Shanghai Shenjiahu Expressway and also the Shanghai North-South Raised Roadway, the area is flanked by two train lines.
She accentuate that the group has certainly also started another massive urban restoration project in Shanghai at Panlong Tiandi. “Our triumph in the Panlong Tiandi venture is a solid testimony to the group’s capabilities in the urban-village remodelling, offering us faith in the future opportunities of the Zhaojia Lou plan,” Wang adds.
The Shui-On Land-Shanghai Pucheng joint project will certainly undertake the redevelopment of land parcels situated in Pujiang Area, which stretch to Jiageng Road to the eastern, Yaojia Bang to the south, Huichi Roadway to the west, and also Xiaoyan Lake to the north.
Shui On Land is the flagship real estate development firm of the Shui On Group, a building-materials plus construction business established by Hong Kong billionaire Vincent Lo.
Hong Kong-listed property business Shui On Land has recently introduced that its subsidiary, Shanghai Ruilou Enterprise Management, has created a consolidated move with state-owned venture Shanghai Pucheng to perform a redevelopment work at Pujiang Community, in the Minhang district of Shanghai, China.
According to an April 20 press release by Shui On Land, the new property development will certainly consist of household, commercial as well as supplementary facilities. The mutual venture is assumed to maintain the one-of-a-kind past history along with culture of Pujiang Town, while redeveloping it into a “new site of Shanghai”.
“Over the past three decades, Shui On Land has developed a solid foothold in Shanghai plus participated in urban renewal campaigns with tested capabilities in master preparation, ethnic conservation, neighborhood procedure and even urban regrowth,” states Jessica Wang, CEO of Shui On Land.