Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
According to an April 20 bulletin by Shui On Land, the new project will include household, industrial and supplementary establishments. The mutual venture is assumed to preserve the unique background along with heritage of Pujiang Community, while redeveloping it into a “new landmark of Shanghai”.
Hong Kong-listed building firm Shui On Land has recently announced that its subsidiary, Shanghai Ruilou Enterprise Management, has formed a joined venture with state-owned enterprise Shanghai Pucheng to accomplish a redevelopment project at Pujiang Community, in the Minhang region of Shanghai, China.
Shui On Land is the flagship property development firm of the Shui On Group, a building-materials also construction company started by Hong Kong billionaire Vincent Lo.
“Over the past 30 years, Shui On Land has certainly developed a strong foothold in Shanghai plus joined renovation programs with tested capacities in master preparation, cultural preservation, community procedure and even urban regeneration,” claims Jessica Wang, Chief Executive Officer of Shui On Land.
The project will see the redevelopment of Zhaojia Lou Ancient Town, a location that has been determined by the Shanghai municipal government for rehabilitation. Understood for its canals and even old water communities, it is a well-known tourist area. In 2015, it was ranked an AAAA tourist spots by Chinese authorities, meaning the area attracts over 500,000 tourists each year. Located next to the Shanghai Shenjiahu Expressway and also the Shanghai North-South Raised Road, the location is flanked by two subway lines.
The Shui-On Land-Shanghai Pucheng joint venture will take on the redevelopment of property parcels situated in Pujiang Area, that reach to Jiageng Road to the east, Yaojia Bang to the south, Huichi Roadway to the west, and Xiaoyan Lake to the north.
She accentuate that the group has additionally embarked on another massive urban restoration project in Shanghai at Panlong Tiandi. “Our triumph in the Panlong Tiandi venture is a solid testament to the group’s abilities in the urban-village remodelling, giving us faith in the coming future leads of the Zhaojia Lou project,” Wang adds.
