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Hong Kong Real Estate Billionaire Vincent Lo Bets Anew On Shanghai [Forbes]

SHUI ON LAND LTD UNSP/ADR (SOLLY) 
Company Research Source: Forbes
Hong Kong billionaire real estate developer Vincent Lo has for decades been known as “Mr. Shanghai” over his enthusiasm for the international business hub. Among his best successes, Xintiandi -- launched in a dilapidated part of central Shanghai in the 1990s -- is today an iconic tourist and nightlife district that attracts thousands of visitors daily to retail spots that range from lululemon to Shake Shack. Shui On Land, Lo's flagship business, today unveiled its latest move in the city in a Hong Kong Stock Exchange filing . Shanghai Zhaolou, a non-wholly owned subsidiary, agreed to pay 664.3 million yuan, or approximately $95 million, for land use rights for a project in the city's Minhang district. The “Zhaojia Lou Project” will preserve the unique history and culture of Pujiang Town in Minhang; the land is expected to develop into a new landmark in Shanghai, consolidate Shui On's leadership in urban renewal in the city, and enhance Shui On's “market share and influence in Sha Show less Read more
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