Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project

Shui On Land, a Hong Kong-listed property company, has announced a joint venture between its subsidiary, Shanghai Ruilou Enterprise Management, and state-owned enterprise Shanghai Pucheng. The project aims to redevelop Zhaojia Lou Ancient Town in Shanghai’s Minhang district. Zhaojia Lou Ancient Town is a popular tourist spot, with hundreds of thousands of visitors each year, and is known for its canals and ancient water towns. It lies next to the Shanghai Shenjiahu Expressway and the Shanghai North-South Elevated Road, and has two connected subway lines.

The joint venture will redevelop a land parcel stretching from Jiageng Road to the east, Yaojia Bang to the south, Huichi Road to the west, and Xiaoyan Lake to the north. The new development will include residential, commercial and ancillary facilities, as well as preservation of the area’s unique history and culture.

Jessica Wang, CEO of Shui On Land, is optimistic about the future of the project. She notes that the group has developed a strong foothold in Shanghai, participating in successful urban renewal projects. Moreover, the group’s success in the Panlong Tiandi project gives strong confidence in the future prospects of the Zhaojia Lou project.

The Shui On Group, to which Shui On Land is the flagship property development company, was founded by Hong Kong billionaire Vincent Lo. Over the past 30 years, it has made a name for itself in urban renovation and master planning, cultural preservation, and community operation. This new joint venture with Shanghai Pucheng is sure to create an exciting new landmark in the city of Shanghai.