SIUD partnerships with Hong Kong firms gives it competitive edge
Q&AWith more than 30 years experience in property, recently appointed SIUD chairman Ji Gang plans to continue the group's strategy of cooperation with global partners to improve competitiveness
Shanghai Industrial Urban Development Group (SIUD) is not a household name in Hong Kong but its partners are.
The company, a subsidiary of Shanghai Industrial Holdings, came under the spotlight after it brought in Nan Fung Development and Sun Hung Kai Properties as strategic investors in two high-profile deals.
Back in 2010, state-owned conglomerate Shanghai Industrial Holdings (SIH) took over beleaguered developer Neo-China Land Group as the controlling shareholder and changed the name to Shanghai Industrial Urban Development Group.
Since then, SIUD has stepped up its acquisitions.
Three months after the back-door listing, it bought a large plot at Xinzhuang subway station. The site is earmarked for a 10 billion yuan (HK$12.5 billion) integrated development, Todtown, through a partnership with SHKP.
Last year, it formed a coalition with Nan Fung to buy the Shanghaimart in a 51:49 joint venture for US$579 million.
Last year, the company declared its first dividend of 1.1 HK cents since its takeover of Neo-China Land.