HKR International and Swire Properties have jointly revealed the name of their Shanghai joint-venture project: HKRI Taikoo Hui.
The large-scale mixed-use development formerly known as the Dazhongli project, is located on Nanjing Road (West), one of Shanghai’s major shopping thoroughfares, in the Jingan District of Puxi, Shanghai. It will have a gross floor area of some 3.46 million sq ft (approximately 321,200 sqm) and comprise a retail mall, two office towers and three hotels/serviced apartments.
It is served by three metro lines – the existing Line 2 and two planned Lines 12 and 13 due to open in 2015-2016. The development is also close to the Yanan and N-S Elevated Highways, providing good accessibility to downtown locations and Pudong and Hongqiao International Airports.
“The project is poised to become a landmark development in the heart of Shanghai and will inject new excitement into the retail, dining and entertainment scene in the buzzing Nanjing Road (West) neighbourhood,” the two companies said in a statement.
“As the founding partner of the project, we have come a long way since acquiring the Dazhongli site in 2002. With great pleasure, we announce the launch of HKRI Taikoo Hui together with Swire Properties, our partner since 2006,” said Cha Mou Zing Victor, deputy chairman & MD of HKR International.
“We look forward to the imminent completion of the mixed-use commercial development, which is set to become the next focal point for business and leisure activities in Shanghai with its prime location and excellent connectivity.”
Guy Bradley, Swire Properties CEO, said the project is being built in the most vibrant district of an amazing city and will be the last major development in the Jingan District.
“We intend to make it a spectacular addition, and I am confident that HKRI Taikoo Hui will become a new lifestyle destination and a premium business address in Shanghai.”
Hong Kong listed HKR International has diversified interests in real estate development and investment, property management, luxury hotels and serviced apartments, healthcare services and other investments in Hong Kong, Mainland China and across Asia.
Also listed in Hong Kong, Swire Properties develops and manages commercial, retail, hotel and residential properties, with a particular focus on mixed-use developments in prime locations. Its properties include Taikoo Place, Cityplaza and Pacific Place.