Shui On Land, a Hong Kong-listed property company, has entered into an agreement with Shanghai Pucheng, a state-owned enterprise, to redevelop Zhaojia Lou Ancient Town in Shanghai, China. Located in Pujiang Town within the Minhang District of Shanghai, the area is well known amongst tourists for its canals and ancient architecture, earning the town an AAAA rating according to Chinese authorities. The rating means the site attracts approximately 500,000 visitors each year.
The area boasts excellent accessibility, being bordered by the Shanghai Shenjiahu Expressway and Shanghai North-South Elevated Road, as well as two subway lines. The two parties have agreed to redevelop land parcels located within Pujiang Town, stretching from Jiageng Road to the east, Yaojia Bang to the south, Huichi Road to the west and Xiaoyan Lake to the north.
The redevelopment of the area will incorporate residential, commercial, and ancillary facilities, in addition to preserving the area’s unique cultural and historical elements. CEO Jessica Wang of Shui On Land shared her enthusiasm for the project, citing the company’s track record in similar projects within the city. Specifically, Wang refers to Shui On’s success with the Panlong Tiandi project as strong evidence of their capabilities for similar tasks.
The Shui On Group, founded by Hong Kong billionaire Vincent Lo, serves as the flagship property development company for Shui On Land. With over thirty years’ worth of development within Shanghai, Shui On Land has extensive experience in master planning, cultural conservation, community operations, and urban regeneration. Wang has little doubt that this joint venture between the two companies will result in the “new landmark of Shanghai” they envision.