Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
The Shui-On Land-Shanghai Pucheng joint project will take on the redevelopment of property parcels positioned in Pujiang Town, which stretch to Jiageng Roadway to the east, Yaojia Bang to the south, Huichi Roadway to the west, as well as Xiaoyan Lake to the north.
She highlights that the group has additionally commenced one more massive urban restoration plan in Shanghai at Panlong Tiandi. “Our results in the Panlong Tiandi venture is a strong testimony to the group’s capacities in the urban-village renovation, providing us confidence in the future leads of the Zhaojia Lou project,” Wang includes.
According to an April 20 news release by Shui On Land, the brand-new property development will include household, commercial and secondary centers. The shared venture is expected to maintain the one-of-a-kind history and even heritage of Pujiang Community, while redeveloping it into a “new site of Shanghai”.
The plan will find the redevelopment of Zhaojia Lou Ancient Community, a place that has been recognized by the Shanghai municipal government for renovation. Recognized for its canals and also old water villages, it is a popular tourist place. In 2015, it was rated an AAAA tourist destination by Chinese authorities, implying the location draws in over 500,000 visitors every year. Found next to the Shanghai Shenjiahu Expressway and also the Shanghai North-South Elevated Road, the location is flanked by 2 metro lines.
Hong Kong-listed building company Shui On Land has introduced that its branch, Shanghai Ruilou Enterprise Management, has definitely created a consolidated move with state-owned venture Shanghai Pucheng to carry out a redevelopment work at Pujiang Community, in the Minhang area of Shanghai, China.
“Over the past three decades, Shui On Land has certainly established a solid grip in Shanghai and even took part in urban renewal campaigns with tried and tested capacities in master preparation, societal security, neighborhood procedure and urban regrowth,” says Jessica Wang, CEO of Shui On Land.
Shui On Land is the front runner real property development firm of the Shui On Group, a building-materials and building business started by Hong Kong billionaire Vincent Lo.
