Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
She accentuate that the group has additionally embarked on an additional large-scale city restoration project in Shanghai at Panlong Tiandi. “Our success in the Panlong Tiandi work is a strong testament to the group’s capabilities in the urban-village renovation, providing us assurance in the near future prospects of the Zhaojia Lou venture,” Wang adds.
The Shui-On Land-Shanghai Pucheng joint project will carry out the redevelopment of property parcels located in Pujiang Town, that reach to Jiageng Road to the east, Yaojia Bang to the south, Huichi Roadway to the west, and Xiaoyan Lake to the north.
According to an April 20 bulletin by Shui On Land, the brand-new project will include residential, commercial and supplementary establishments. The shared venture is expected to maintain the one-of-a-kind past history and even culture of Pujiang Community, while redeveloping it into a “brand-new landmark of Shanghai”.
Shui On Land is the flagship real estate project company of the Shui On Group, a building-materials plus construction firm started by Hong Kong billionaire Vincent Lo.
Hong Kong-listed real estate company Shui On Land has recently introduced that its branch, Shanghai Ruilou Enterprise Management, has developed a joint venture with state-owned venture Shanghai Pucheng to accomplish a redevelopment plan at Pujiang Community, in the Minhang district of Shanghai, China.
The project will find the redevelopment of Zhaojia Lou Ancient Community, a location that has been recognized by the Shanghai local government for urban renewal. Recognized for its canals and old water villages, it is a popular tourism area. In 2015, it was rated an AAAA travellers spots by Chinese authorities, suggesting the location brings in over 500,000 visitors annually. Found next to the Shanghai Shenjiahu Expressway and the Shanghai North-South Raised Roadway, the location is flanked by 2 train lines.
“Over the past three decades, Shui On Land has indeed created a strong foothold in Shanghai and even participated in renovation campaigns with proven capabilities in master planning, cultural conservation, community procedure and even city regrowth,” states Jessica Wang, Chief Executive Officer of Shui On Land.