Hang Lung partners with Join Buy on West Nanjing mixed-use project

The joint venture redevelops one of Shanghai’s commercial districts.

Hang Lung Properties Limited will expand its West Nanjing Road portfolio by 44% through the No. 1038 West Nanjing Road Commercial Project, partnering with Shanghai Join Buy Group Co., Ltd.

The 20-year operating lease marks the latest milestone of Hang Lung V.3 Strategy, highlighting capital-efficient reinvestment and asset optimisation to amplify its leadership position in core cities, bolstering Shanghai's stature as an international consumption destination.

The redevelopment sits between Plaza 66 and No. 1038 West Nanjing Road, formerly known as Westgate Mall. The area will now be called ‘Mei-Tai-Hang’ (梅泰恒), meaning ‘core of the core,’ as it is a hotspot for retail and lifestyle in Shanghai.

It features a mixed-used complex, housing retail, hospitality, and office spaces. This project allows consumers to connect and immerse themselves in diverse experiences.

In a press release, Weber Lo, Chief Executive Officer of Hang Lung Properties, expressed his honor in partnering with Join Buy Group and said that West Nanjing Road is not just a premier commercial destination, but also the cultural and historical heart of Shanghai.

“Its more comprehensive mix of uses will create stronger synergies across our portfolio and attract a broader clientele. The new dynamics will further strengthen the area's reputation as a hub for international lifestyle. We are proud to contribute to the legacy of Jing'an District and the development of its landmark commercial district," he continued.

Xu Xing, Chairman of Join Buy Group, also commented, saying that the West Nanjing Road is a symbol of the region’s urban living and the company’s long-term commitment and development.

“We will leverage this project to deepen our involvement in the West Nanjing Road central activity zone and explore a new paradigm for the integration of culture, business, and travel," he shared.