Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
The project will view the redevelopment of Zhaojia Lou Ancient Community, a location that has been identified by the Shanghai community government for urban renewal. Understood for its canals and ancient water villages, it is a famous tourist place. In 2015, it was rated an AAAA tourist attraction by Chinese authorities, implying the area attracts over 500,000 visitors every year. Located beside the Shanghai Shenjiahu Expressway and the Shanghai North-South Raised Road, the location is flanked by 2 train lines.
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 Road to the eastern, Yaojia Bang to the south, Huichi Road to the west, and Xiaoyan Lake to the north.
According to an April 20 press release by Shui On Land, the new property development will consist of residential, industrial and also ancillary facilities. The joint project is expected to protect the one-of-a-kind history along with culture of Pujiang Town, while redeveloping it into a “brand-new landmark of Shanghai”.
“Over the past 30 years, Shui On Land has developed a strong footing in Shanghai and took part in rehabilitation programs with tried and tested abilities in master preparation, societal security, community procedure and even urban regeneration,” says Jessica Wang, Chief Executive Officer of Shui On Land.
Hong Kong-listed property business Shui On Land has introduced that its branch, Shanghai Ruilou Enterprise Management, has indeed formed a joint move with state-owned venture Shanghai Pucheng to perform a redevelopment plan at Pujiang Community, in the Minhang area of Shanghai, China.
Shui On Land is the flagship real property project company of the Shui On Group, a building-materials also construction firm established by Hong Kong billionaire Vincent Lo.
She accentuate that the group has actually additionally embarked on another large metropolitan remodelling job in Shanghai at Panlong Tiandi. “Our results in the Panlong Tiandi venture is a solid testimony to the group’s abilities in the urban-village improvement, providing us confidence in the near future prospects of the Zhaojia Lou plan,” Wang includes.