Hong Kong’s Shui On Land forms JV for Shanghai redevelopment project
Shui On Land, a Hong Kong-listed property company, has announced that its subsidiary, Shanghai Ruilou Enterprise Management, has formed a joint venture with the Shanghai-based state-owned enterprise Shanghai Pucheng to carry out a redevelopment project in Pujiang Town, Minhang – a district of Shanghai, China. The newly formed joint venture is set to redevelop the Zhaojia Lou Ancient Town, an area identified by the Shanghai municipal government for urban renewal. An area known for its canals and ancient water towns, it is a popular tourist spot with an AAAA tourist rating – meaning it attracts over 500,000 visitors annually. Flanked by the Shanghai Shenjiahu Expressway and the Shanghai North-South Elevated Road, with two subway lines in close proximity, the Zhaojia Lou Ancient Town, is perfectly located.
The Shui On Land and Shanghai Pucheng joint venture will be responsible for the redevelopment of land running from Jiageng Road in the east, …