Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project

The project will certainly find the redevelopment of Zhaojia Lou Ancient Town, a location that has been recognized by the Shanghai local government for urban renewal. Known for its canals and also old water villages, it is a famous tourist place. In 2015, it was ranked an AAAA tourism destination by Chinese authorities, meaning the area draws in over 500,000 visitors every year. Found alongside the Shanghai Shenjiahu Expressway and also the Shanghai North-South Elevated Road, the area is flanked by 2 subway lines.

According to an April 20 press release by Shui On Land, the new project will certainly include household, business and supplementary centers. The mutual project is assumed to protect the unique history and even heritage of Pujiang Community, while redeveloping it into a “new landmark of Shanghai”.

“Over the past thirty years, Shui On Land has certainly developed a solid footing in Shanghai and even took part in rehabilitation campaigns with proven abilities in master preparation, societal preservation, area procedure along with city regrowth,” claims Jessica Wang, Chief Executive Officer of Shui On Land.

The Shui-On Land-Shanghai Pucheng joint venture will embark on the redevelopment of real estate parcels located in Pujiang Village, 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.

Shui On Land is the front runner real estate project business of the Shui On Group, a building-materials and construction firm founded by Hong Kong billionaire Vincent Lo.

Canninghill Piers Capitaland & City Development (CDL)

She accentuate that the group has certainly likewise embarked on another large-scale city remodelling project in Shanghai at Panlong Tiandi. “Our results in the Panlong Tiandi work is a powerful testament to the group’s capacities in the urban-village remodelling, giving us faith in the future prospects of the Zhaojia Lou project,” Wang adds in.

Hong Kong-listed property company Shui On Land has declared that its subsidiary, Shanghai Ruilou Enterprise Management, has definitely created a joint move with state-owned venture Shanghai Pucheng to perform a redevelopment work at Pujiang Town, in the Minhang region of Shanghai, China.

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