Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
Hong Kong-listed property business Shui On Land has announced that its subsidiary, Shanghai Ruilou Enterprise Management, has indeed developed a consolidated venture with state-owned venture Shanghai Pucheng to execute a redevelopment work at Pujiang Town, in the Minhang region of Shanghai, China.
Shui On Land is the front runner property development company of the Shui On Group, a building-materials and building company founded by Hong Kong billionaire Vincent Lo.
She highlights that the group has likewise embarked on another large-scale urban renovation plan in Shanghai at Panlong Tiandi. “Our results in the Panlong Tiandi project is a strong testament to the group’s abilities in the urban-village remodelling, providing us assurance in the near future leads of the Zhaojia Lou project,” Wang includes.
“Over the past 30 years, Shui On Land has created a solid footing in Shanghai plus joined urban renewal campaigns with tried and tested abilities in master preparation, cultural preservation, community operation along with urban regrowth,” states Jessica Wang, CEO of Shui On Land.
The Shui-On Land-Shanghai Pucheng joint project will certainly carry out the redevelopment of real estate parcels positioned in Pujiang Village, that extend to Jiageng Road to the east, Yaojia Bang to the south, Huichi Road to the west, as well as Xiaoyan Lake to the north.
According to an April 20 news release by Shui On Land, the brand-new property development will certainly include domestic, commercial and supplementary establishments. The mutual venture is assumed to protect the distinct past history and culture of Pujiang Community, while redeveloping it right into a “brand-new landmark of Shanghai”.
The plan will find the redevelopment of Zhaojia Lou Ancient Community, a place that has been identified by the Shanghai local government for urban renewal. Known for its canals and even old water communities, it is a famous vacation spot. In 2015, it was ranked an AAAA tourist attraction by Chinese authorities, suggesting the area draws in over 500,000 visitors yearly. Situated beside the Shanghai Shenjiahu Expressway as well as the Shanghai North-South Raised Roadway, the area is flanked by 2 metro lines.
