Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
Hong Kong-listed real estate firm Shui On Land has recently declared that its branch, Shanghai Ruilou Enterprise Management, has developed a consolidated venture with state-owned venture Shanghai Pucheng to perform a redevelopment work at Pujiang Town, in the Minhang area of Shanghai, China.
Shui On Land is the front runner real estate development firm of the Shui On Group, a building-materials plus building company established by Hong Kong billionaire Vincent Lo.
“Over the past thirty years, Shui On Land has indeed developed a strong grip in Shanghai and even took part in rehabilitation programs with tested abilities in master preparation, ethnic preservation, community procedure and even metropolitan regrowth,” claims Jessica Wang, Chief Executive Officer of Shui On Land.
According to an April 20 press release by Shui On Land, the brand-new property development will certainly include household, business and also ancillary establishments. The mutual project is anticipated to maintain the special background and culture of Pujiang Community, while redeveloping it into a “brand-new spots of Shanghai”.
The project will see the redevelopment of Zhaojia Lou Ancient Town, a place that has actually been determined by the Shanghai local government for rehabilitation. Recognized for its canals and also ancient water towns, it is a well-known vacation spot. In 2015, it was rated an AAAA travellers spots by Chinese authorities, implying the place attracts over 500,000 guests every year. Found next to the Shanghai Shenjiahu Expressway and also the Shanghai North-South Raised Road, the location is flanked by two train lines.
The Shui-On Land-Shanghai Pucheng joint venture will certainly embark on the redevelopment of real estate parcels located in Pujiang Area, that reach to Jiageng Roadway to the eastern, Yaojia Bang to the south, Huichi Road to the west, as well as Xiaoyan Lake to the north.
She accentuate that the group has also embarked on an additional large-scale city improvement job in Shanghai at Panlong Tiandi. “Our results in the Panlong Tiandi venture is a powerful testimony to the group’s abilities in the urban-village renovation, offering us assurance in the coming future opportunities of the Zhaojia Lou venture,” Wang includes.