Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
Shui On Group, founded by Hong Kong billionaire Vincent Lo, is the parent company of Shui On Land, the property development arm that has announced the joint venture with Shanghai Pucheng. This new project seeks to redevelop land located in Pujiang Town, in the Minhang of district of Shanghai, which is home to Zhaojia Lou Ancient Town.
Zhaojia Lou Ancient Town is known for its canals and ancient water towns, and has been rated an AAAA tourist attraction by Chinese authorities, attracting over 500,000 visitors every year. Strategically located next to the Shanghai Shenjiahu Expressway and Shanghai North-South Elevated Road, the area is flanked by two subway lines.
The new development will include residential, commercial and ancillary facilities, with the joint venture aiming to preserve the unique history and culture of Pujiang Town while redeveloping it into a “new landmark of Shanghai”. Jessica Wang, CEO of Shui On Land, comments on the prospects for the project, noting the company’s experience in the urban-village renovation it has demonstrated in the Panlong Tiandi project.
Over the past 30 years, Shui On Land has been active in Shanghai, taking part in urban renewal projects across the city. Its success in Panlong Tiandi has given the group confidence in the future of the Zhaojia Lou project. With its experience in master planning, cultural preservation, community operation and urban regeneration, the group is well placed to create an exciting redevelopment opportunity in Pujiang Town.