Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
The project will certainly view the redevelopment of Zhaojia Lou Ancient Community, an area that has been determined by the Shanghai municipal government for renovation. Known for its canals and even ancient water towns, it is a well-known tourist area. In 2015, it was ranked an AAAA travellers attraction by Chinese authorities, suggesting the location attracts over 500,000 guests annually. Situated alongside the Shanghai Shenjiahu Expressway and also the Shanghai North-South Raised Roadway, the location is flanked by 2 subway lines.
The Shui-On Land-Shanghai Pucheng joint project will certainly carry out the redevelopment of property parcels situated in Pujiang Village, which extend to Jiageng Road to the eastern, 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 established a strong foothold in Shanghai plus took part in rehabilitation projects with proven abilities in master preparation, cultural security, neighborhood operation and even urban regrowth,” claims Jessica Wang, CEO of Shui On Land.
According to an April 20 press release by Shui On Land, the new development will feature domestic, business as well as secondary facilities. The shared project is assumed to preserve the special background and culture of Pujiang Community, while redeveloping it into a “brand-new landmark of Shanghai”.
Shui On Land is the front runner real property development firm of the Shui On Group, a building-materials also building firm established by Hong Kong billionaire Vincent Lo.
Hong Kong-listed real estate company Shui On Land has already announced that its branch, Shanghai Ruilou Enterprise Management, has definitely formed a joint project with state-owned enterprise Shanghai Pucheng to perform a redevelopment work at Pujiang Community, in the Minhang region of Shanghai, China.
She showcase that the group has certainly also commenced an additional large urban restoration project in Shanghai at Panlong Tiandi. “Our success in the Panlong Tiandi work is a strong testament to the group’s capacities in the urban-village renovation, providing us assurance in the coming future leads of the Zhaojia Lou project,” Wang adds in.