Hang Lung Properties secures Shanghai project with Shanghai Join Buy Group

Hang Lung Properties (0101) said it has secured a project in Shanghai with Shanghai Join Buy Group that will add approximately 96,000 square meters to its portfolio on West Nanjing Road. 

The No 1038 West Nanjing Road redevelopment project, operating under a 20-year lease, will expand Hang Lung’s portfolio’s total gross floor area by approximately 44 percent to about 312,335 square meters, the developer said. 

The area—formerly Westgate Mall—is known as “Mei-Tai-Hang” and is considered the “core of the core” of Shanghai's prime retail and lifestyle center, it said.

As part of Shanghai’s urban renewal efforts, the project will be transformed into a dynamic mixed-use complex featuring integrated retail, hospitality, and office spaces, Hang Lung said.