08 May 2023
Shanghai is set to construct the first cable car that will connect the west and east banks of the Huangpu River, with a projected completion date of three years from now. The project, dubbed "The Heart of Huangpu River," will involve Hongkong Land, China Travel Service (Hong Kong), and West Bund, which has the support of the government of Shanghai's Xuhui district.
The cable car will serve as a means of transportation between the Puxi area on the west bank of the Huangpu and Pudong on the east bank. It will "create a new level of excitement and adventure for both Shanghai locals and tourists from around the world," said Cao Liqiang, the party secretary of the Xuhui district, while expressing that the cable car project could provide a further boost to the West Bund Financial Hub project and the entire Xuhui district.
The West Bund Financial Hub project, which was announced by Hongkong Land after the company purchased a piece of land in the western Bund district of Xuhui at an unprecedented cost of 31 billion yuan ($4.49 billion), which is intended for mixed-use development, in 2020, will be linked to the Expo Cultural Park located in the Houtan area of Pudong district through the cable car.
According to Hongkong Land, the West Bund Financial Hub project will consist of approximately 660,000 square metres of office space, 210,000 square metres of retail space, 170,000 square metres of luxury residential properties, 55,000 square metres of five-star hotels, a 30,000 square metre convention centre, and 10,000 square metres of sports facilities.
Ling Changfeng, executive director of China Property at Hongkong Land, stated that the West Bund Financial Hub project is expected to become an international financial centre, an incubator of art and culture, and a tourism destination.
A planning map released by the Xuhui district shows the cable car will be built at the narrowest point of a river bend where it will cross the Huangpu River. The project's detailed design, the total investment involved, and pricing have not been revealed yet.
The first cable car crossing the Huangpu River, Shanghai "will see a new level of integration between the two sides, and it will become a landmark for the city", said Ling Changfeng.
Xuhui district is located in the southwestern part of Shanghai and is home to the French Concession. Xuhui district, located in the southwestern part of Shanghai, is renowned for its charming tree-lined boulevards and well-preserved architecture, having been ruled by France from 1849 to 1943.
Presently, in the Xuhui district, there are over 3,400 foreign companies, 145 multinational headquarters, and research-and-development facilities located in this area. Some of the well-known establishments include McDonald's flagship store and its China Food Innovation Center, as well as the China headquarters of the Danish toymaker Lego Group. Last year, Xuhui district attracted foreign investment worth 1.24 billion yuan, which marked a 31.9% year-on-year growth, the highest among all districts in Shanghai.