Swire Properties, Jing’an partner to revitalise Shanghai district

The Zhangyuan district in the city will be turned into an international cultural and commercial landmark.

Swire Properties has formed a joint venture with Shanghai Jing’an Real Estate (Group) Co. Ltd. to reposition the Zhangyuan district into an international cultural and commercial landmark.

The site with a 40,000 square metre (sqm) area comprises 43 Shikumen blocks of around 170 historic buildings. It is the largest shikumen compound in Shanghai.

The two companies plan to create “high-end” office spaces, residential apartments as well as a boutique hotels with an array of dining and retail options over an expected 60,000 sqm gross floor area above ground

The underground area of more than 70,000 sqm will connect to three Metro lines (2, 12, and 13) at Nanjing Road West station and enjoy seamless access to nearby communities.

“This project will leverage Swire Properties’ expertise in commercial planning, hotel management, property leasing and management, making full use of its commercial property management experience,” Shi Yunlun, chairman of Shanghai Jing’an Real Estate Group, said.

Swire Properties and Jing’an Real Estate Group will hold a 60% and 40% interest respectively in the joint venture company set up to manage and operate the project.