Kerry Properties Initiates Ambitious Shanghai Venture

Under the stewardship of the renowned Kuok family of Shangri-La Hotel fame, Kerry Properties has officially broken ground on the expansive Kerry Jinling Road project, signalling the initiation of its most extensive development venture in mainland China. This bold undertaking in Shanghai’s vibrant Huangpu district encompasses a staggering 663,000 square metres of mixed-use space, representing a significant stride towards urban transformation and development.

The visionary project, strategically situated near Shanghai’s iconic Yu Garden landmark, aims to elevate urban regeneration while contributing to the city’s high-quality advancement. “Through this project, Kerry aims to promote urban regeneration in Shanghai and to contribute to the city’s high-quality development,” stated Kuok Khoon Hua, the Chairman and CEO of Kerry Properties. “We have great confidence in the future growth of the mainland China market and are fully committed to improving urban areas through our projects in mainland China.”

Spanning a meticulously curated assemblage of 10 contiguous plots along East Jinling Road, the Kerry Jinling Road project was meticulously pieced together via government tenders in June and January of the preceding year. An investment totalling RMB 22.1 billion (approx. US$3 billion) is planned across this sprawling 216,000 square metre site. Remarkably, the development’s financial metrics translate to approximately RMB 33,303 per square metre of gross floor area.

The monumental project encompasses various components, including 214,000 square metres designated for office space, 124,000 square metres for high-rise apartments and distinctive shikumen-style townhouses. Additionally, 124,000 square metres of space is allocated for retail outlets.

Bound by Ninghai Dong Road and Renmin Road, the development boasts seamless connectivity to the Yuyuan Garden station and its two Metro lines. Notably, it lies within walking distance of illustrious landmarks such as People’s Square and The Bund, further enhancing its strategic prominence. The project is set to be realized through a phased approach between 2027 and 2029, with residential pre-sales anticipated to commence in 2025. Simultaneously, leasing office, retail, and hotel spaces are slated for launch in 2028, as described in their company’s annual report.

Rising to its deep commitment towards upholding cultural heritage, Kerry Properties imbues the essence of Shanghai’s historical treasures into its master plan. The architectural legacy of Jinling Road will be preserved by integrating the city’s historical arcade buildings, Shikumen houses, and ‘li-long’ alleyways into the fabric of the development. This approach aligns with the company’s overarching vision to amalgamate modernity with historical significance.

This landmark milestone represents Kerry’s third mega-development venture in Shanghai, surpassing the scale of its renowned 347,000 square metre Jing An Kerry Centre. This iconic establishment, complete with the celebrated Jing’An Shangri-La Hotel, was successfully realized in 2013. Similarly, Kerry Parkside, encompassing 253,000 square metres and featuring a mall, residential units, and the esteemed Kerry Parkside hotel, was unveiled in the Pudong District in 2011.

Several notable Hong Kong developers parallel Kerry Properties’ formidable expansion endeavours within mainland China. The company’s ambitious steps towards urban evolution align with the broader industry narrative, while global developers adjust their strategies in response to market dynamics.

Adjacent to the extensive 1.1 million square metre commercial project, the gracious Jardine Matheson unit introduced a residential project the previous year, targeting over 526 new homes. Similarly, in partnership with Lujiazui Group, Hong Kong-listed Swire Properties announced the development of an expansive 600,000-square-metre mixed-use project in Shanghai’s dynamic Qiantan area.

As Kerry Properties embarks on its remarkable journey within Shanghai’s oldest district, its resolute dedication to preserving cultural heritage, enhancing urban landscapes, and delivering visionary mixed-use developments is a testament to its indelible impact on China’s real estate scene.




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