Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
The project will find the redevelopment of Zhaojia Lou Ancient Town, a location that has actually been identified by the Shanghai municipal government for urban renewal. Understood for its canals and also ancient water communities, it is a popular tourism place. In 2015, it was ranked an AAAA travellers attraction by Chinese authorities, implying the area brings in over 500,000 visitors every year. Found beside the Shanghai Shenjiahu Expressway and also the Shanghai North-South Elevated Road, the area is flanked by two train lines.
Shui On Land is the front runner property development company of the Shui On Group, a building-materials also construction firm founded by Hong Kong billionaire Vincent Lo.
Hong Kong-listed real estate business Shui On Land has recently declared that its branch, Shanghai Ruilou Enterprise Management, has developed a joint move with state-owned enterprise Shanghai Pucheng to accomplish a redevelopment plan at Pujiang Town, in the Minhang area of Shanghai, China.
According to an April 20 news release by Shui On Land, the brand-new property development will certainly consist of residential, industrial and ancillary facilities. The mutual venture is assumed to preserve the distinct past history and even culture of Pujiang Community, while redeveloping it right into a “brand-new site of Shanghai”.
She accentuate that the group has likewise started another large-scale urban restoration job in Shanghai at Panlong Tiandi. “Our success in the Panlong Tiandi work is a powerful testimony to the group’s abilities in the urban-village improvement, providing us confidence in the coming future opportunities of the Zhaojia Lou plan,” Wang adds in.
“Over the past 30 years, Shui On Land has certainly developed a solid grip in Shanghai and even participated in renovation projects with tried and tested capacities in master preparation, ethnic security, area procedure and urban regeneration,” states Jessica Wang, Chief Executive Officer of Shui On Land.
The Shui-On Land-Shanghai Pucheng joint venture will certainly take on the redevelopment of real estate parcels located in Pujiang Area, that reach to Jiageng Road to the east, Yaojia Bang to the south, Huichi Road to the west, as well as Xiaoyan Lake to the north.