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KWIH launches Upstream Park A Large-scale Quality Commercial and Residential Project in Shanghai Strong Sales on Debut with 220 Units Sold

K. Wah International Holdings Limited (“KWIH” or “the Group”) (stock code: 173) launched Upstream Park, a large-scale residential and commercial development located in Minhang District, Shanghai, on 7 July meeting the market demand for quality housing. Of the 266 units of varying layouts available, over 80% of the units were sold, underscoring intense market interest and testifying to the appeal of the KWIH premier brand.

The first batch of units launched at Upstream Park comprises one-bedroom to four-bedroom mid-rise residences. The floor area of these smartly designed apartments ranges from 77 sqm to 145 sqm, and is priced over RMB15,000 per sqm. The project draws keen responses with 220 apartments sold as at 22 July.

Paddy Lui, Executive Director of KWIH, said, “Upstream Park is one of our featured projects in Shanghai this year. The interest rate reduction announced by the People’s Bank of China early last month indicates an easing monetary policy which is positive to the property market. Capturing this opportunity, the Group launched Upstream Park at a reasonable price level, generating satisfactory sales results. Adhering to the Group’s commitment to quality, Upstream Park comes as an ideal residence for the professionals in the neighbouring community.  On the other hand, the Group is progressively planning the launch of the second phase in order to capture the opportune time.”

Upstream Park is ideally located within “Shanghai’s Silicon Valley”, specifically, on the periphery of the Shanghai Zizhu Hi-Tech Industrial Development Zone, comprising upmarket residential and commercial buildings, as well as several loft apartments with total GFA of approximately 240,000 sqm. About 50,000 sqm of GFA have been allocated for commercial use and approximately 190,000 sqm of GFA for 1,428 residential units. Upstream Park is surrounded by first tier education institutions under East China Normal University, including kindergartens, primary schools, junior high schools, senior high schools and prestigious universities such as Shanghai Jiao Tong University and East China Normal University. In addition, there is a 520 mu commercial ancillary facility to the south of the project. The abundant amenities and educational resources in the district highlight the sophistication of the community.

Upstream Park enjoys a scenic river view with lush greenery. The low density residential properties are built along the riverside, offering a unique living environment with leisure, ecological and entertainment zones.

Looking ahead, KWIH will continue to leverage on its extensive experience over the years to develop superb quality luxury residential projects in Mainland China and Hong Kong. The upcoming launch and completion of various projects will further strengthen the Group’s financial position, putting it in good stead to advance developments on hand, as well as acquire quality land parcels to sustain the growth momentum.

 

 

Photos: Upstream Park officially commences sales on 7 July, receiving overwhelmingly positive market response. Over 80% of the units were sold immediately following the launch.