Shui On unveils The Hub
SHUI On Land Ltd, the Hong Kong developer most renowned for its Xintiandi restaurant and bar district in the heart of downtown Shanghai, yesterday unveiled a business and lifestyle project near Shanghai’s Hongqiao transport hub.
The project is called The Hub and is within walking distance of the city’s smaller airport and high-speed rail station. It will cover a site area of 62,000 square meters with total buildable space of 380,000 square meters including underground facilities, according to the developer.
The developer paid 3.2 billion yuan (US$ 495 million) for the site.
Scheduled to be completed as early as 2013, The Hub will consist of offices, shops and restaurants, a luxury hotel and some conference, event and performance facilities.
“We’re very optimistic and confident about The Hub as Hongqiao is positioned to emerge as another central business district for both Shanghai and the entire Yangtze River Delta region,” said Vincent Lo, chairman of Shui On Land.
The Hongqiao transport hub is one of the world’s largest of its kind, where daily foot traffic may reach 1.1 million to 1.4 million on average by 2015. About 75 million people live within a one-hour train ride of the transport hub, the company said.
Shui On also said earlier this month that Xintiandi will double in size over the next few years as part of the company’s plan to create a more integrated community.
By 2016, the popular area will be extended to cover a total gross floor area of more than 1.2 million square meters, with a school, a theater and some other facilities being added.
Shui On also has “Tiandi” projects in other Chinese cities.
Reporters look at a mock- up of The Hub, a business and lifestyle project developed by Shui On Land Ltd, at a press conference in Shanghai yesterday. — Dong Jun