Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
The project will find the redevelopment of Zhaojia Lou Ancient Town, an area that has actually been recognized by the Shanghai municipal government for renovation. Recognized for its canals and even ancient water villages, it is a famous vacation place. In 2015, it was ranked an AAAA travellers spots by Chinese authorities, meaning the place attracts over 500,000 guests each year. Found alongside the Shanghai Shenjiahu Expressway as well as the Shanghai North-South Elevated Road, the area is flanked by 2 metro lines.
Hong Kong-listed real estate firm Shui On Land has recently announced that its subsidiary, Shanghai Ruilou Enterprise Management, has definitely developed a joint project with state-owned enterprise Shanghai Pucheng to perform a redevelopment project at Pujiang Community, in the Minhang area of Shanghai, China.
“Over the past three decades, Shui On Land has indeed developed a solid grip in Shanghai plus took part in renovation campaigns with proven abilities in master preparation, societal conservation, community operation along with city regeneration,” states Jessica Wang, CEO of Shui On Land.
Shui On Land is the front runner real estate development business of the Shui On Group, a building-materials and building firm established by Hong Kong billionaire Vincent Lo.
According to an April 20 news release by Shui On Land, the brand-new development will certainly feature residential, commercial and supplementary establishments. The mutual project is assumed to maintain the one-of-a-kind history and culture of Pujiang Community, while redeveloping it into a “brand-new landmark of Shanghai”.
The Shui-On Land-Shanghai Pucheng joint project will certainly embark on the redevelopment of land parcels positioned in Pujiang Village, 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.
She showcase that the group has actually likewise embarked on another massive metropolitan remodelling plan in Shanghai at Panlong Tiandi. “Our results in the Panlong Tiandi work is a strong testament to the group’s abilities in the urban-village restoration, providing us confidence in the future prospects of the Zhaojia Lou plan,” Wang adds.
