Shui On Land, a Hong Kong-listed property company, has announced a joint venture with state-owned enterprise Shanghai Pucheng to carry out a redevelopment project at Pujiang Town, in the Minhang district of Shanghai, China. The project will focus on the redevelopment of Zhaojia Lou Ancient Town, a popular, AAAA-rated tourist attraction. This area is bordered by the Shanghai Shenjiahu Expressway, the Shanghai North-South Elevated Road and two subway lines.
The joint venture between Shui-On Land and Shanghai Pucheng will redevelop land parcels bordered by 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 and will attempt to preserve the unique history and culture of Pujiang Town.
Jessica Wang, CEO of Shui On Land and the Shui On Group, expresses confidence in the success of the redevelopment project. “Over the past 30 years, Shui On Land has developed a strong foothold in Shanghai and participated in urban renewal projects with proven capabilities in master planning, cultural preservation, community operation and urban regeneration.” She also highlights their successes in the Panlong Tiandi project in Shanghai as an example of their ability to successfully undertake urban-village renovation.