Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
The project will certainly find the redevelopment of Zhaojia Lou Ancient Community, an area that has actually been determined by the Shanghai municipal government for rehabilitation. Understood for its canals and even old water towns, it is a popular vacation place. In 2015, it was rated an AAAA tourist spots by Chinese authorities, indicating the area draws in over 500,000 tourists annually. Located alongside the Shanghai Shenjiahu Expressway and also the Shanghai North-South Elevated Road, the location is flanked by 2 train lines.
She highlights that the group has actually also embarked on an additional large-scale urban remodelling job in Shanghai at Panlong Tiandi. “Our results in the Panlong Tiandi work is a powerful testimony to the group’s capabilities in the urban-village restoration, giving us confidence in the coming future leads of the Zhaojia Lou venture,” Wang adds.
Hong Kong-listed real estate business Shui On Land has already declared that its subsidiary, Shanghai Ruilou Enterprise Management, has created a joined move with state-owned enterprise Shanghai Pucheng to carry out a redevelopment plan at Pujiang Community, in the Minhang area of Shanghai, China.
Shui On Land is the flagship property project company of the Shui On Group, a building-materials plus building business started by Hong Kong billionaire Vincent Lo.
“Over the past 30 years, Shui On Land has established a strong foothold in Shanghai and even took part in urban renewal programs with proven capabilities in master planning, ethnic conservation, neighborhood operation along with city regrowth,” claims Jessica Wang, Chief Executive Officer of Shui On Land.
The Shui-On Land-Shanghai Pucheng joint project will certainly take on the redevelopment of land parcels positioned in Pujiang Area, which reach to Jiageng Roadway to the east, Yaojia Bang to the south, Huichi Roadway to the west, and Xiaoyan Lake to the north.
According to an April 20 news release by Shui On Land, the brand-new property development will consist of household, business and also ancillary centers. The joint venture is assumed to protect the distinct past history and even heritage of Pujiang Community, while redeveloping it into a “brand-new spots of Shanghai”.