HANG LUNG signed a contract with JiuBai Group for the commercial operation project at No. 1038 Nanjing West Road

AASTOCKS
2025.12.15 02:15

HANG LUNG PPT (00101.HK) recently (on December 12) announced a partnership with Shanghai Jiubai Group to sign a commercial operation project at 1038 Nanjing West Road, Shanghai. The project will be operated by HANG LUNG in the form of a 20-year operational lease, adding approximately 96,000 square meters of total floor area to HANG LUNG's project on Nanjing West Road, expanding by about 44% to approximately 312,335 square meters.

HANG LUNG stated that this move is also the latest milestone in the implementation of the "HANG LUNG V.3" strategy, fully demonstrating the company's commitment to consolidating its leadership position in core markets through high capital efficiency investments and asset optimization, while injecting new momentum into Shanghai's development as an international consumption center city.

The commercial operation project at 1038 Nanjing West Road is located in a prime area of Nanjing West Road, formerly known as Meilong Town Plaza. The area from Shanghai HANG LUNG Plaza to Meilong Town Plaza is the "core of the core" of Nanjing West Road in Shanghai and is a leading retail and lifestyle center in the city. This commercial operation project will be upgraded to a comprehensive commercial landmark, encompassing retail, hotel, and office spaces.

HANG LUNG's CEO, Lu Weibai, stated that this upgrade is another milestone in the implementation of the "HANG LUNG V.3" strategy, which will further enhance the synergy of HANG LUNG's mainland investment portfolio through a richer and more diverse mix of business formats, attracting a broader customer base and continuously consolidating the area's position as an international lifestyle hub.

Xu Xiang, Chairman of Jiubai Group, stated that Nanjing West Road is the urban cover of Shanghai and is also the core area for Jiubai Group's in-depth development. The group will take this project as an opportunity to deeply integrate into the construction of the central activity area of Nanjing West Road and jointly explore a new paradigm of cultural, commercial, and tourism integration

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