Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
The Shui-On Land-Shanghai Pucheng joint venture will embark on the redevelopment of real estate parcels located in Pujiang Village, which extend to Jiageng Road to the east, Yaojia Bang to the south, Huichi Roadway to the west, and also Xiaoyan Lake to the north.
“Over the past thirty years, Shui On Land has certainly established a strong grip in Shanghai plus participated in rehabilitation programs with proven capabilities in master preparation, societal conservation, area operation along with urban regrowth,” says Jessica Wang, CEO of Shui On Land.
She accentuate that the group has actually also started one more massive city renovation job in Shanghai at Panlong Tiandi. “Our triumph in the Panlong Tiandi venture is a solid testimony to the group’s capabilities in the urban-village restoration, providing us confidence in the near future opportunities of the Zhaojia Lou venture,” Wang adds.
Shui On Land is the front runner real estate development company of the Shui On Group, a building-materials plus building firm established by Hong Kong billionaire Vincent Lo.
Hong Kong-listed property firm Shui On Land has announced that its subsidiary, Shanghai Ruilou Enterprise Management, has definitely formed a joined project with state-owned venture Shanghai Pucheng to carry out a redevelopment plan at Pujiang Community, in the Minhang district of Shanghai, China.
The plan will see the redevelopment of Zhaojia Lou Ancient Community, an area that has been recognized by the Shanghai local government for renovation. Known for its canals and ancient water towns, it is a famous tourist place. In 2015, it was ranked an AAAA travellers spots by Chinese authorities, meaning the location attracts over 500,000 guests every year. Found alongside the Shanghai Shenjiahu Expressway as well as the Shanghai North-South Raised Roadway, the location is flanked by two train lines.
According to an April 20 news release by Shui On Land, the brand-new property development will certainly consist of domestic, industrial as well as supplementary facilities. The mutual venture is anticipated to protect the distinct history along with heritage of Pujiang Community, while redeveloping it right into a “brand-new spots of Shanghai”.