V.3 Strategy Accelerates with Landmark Projects in Shanghai and Wuxi

Feature Story | Jan 31, 2026
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Hang Lung is marking a pivotal chapter in our V.3 strategy with two major projects — the No. 1038 West Nanjing Road Commercial Project in Shanghai and the Center 66 Expansion in Wuxi — that will significantly broaden our footprint across the Yangtze River Delta. These developments represent a bold step forward in redefining urban experiences and strengthening our leadership in the Chinese Mainland market. 

These milestones exemplify the core of our V.3 strategy — core city expansion, and increased scale, visibility, and accessibility to maximize investment returns. They are also customer-centric, community- driven, and culturally resonant. We’re not only enhancing portfolio synergies but creating destinations that reflect the aspirations of the next generation. 

No. 1038 West Nanjing Road Commercial Project

Secured through a 20-year operating lease in partnership with Shanghai Join Buy Group Co., Ltd., this development will contribute around 96,000 square meters of retail, hospitality, and office space, expanding Hang Lung’s footprint on West Nanjing Road by approximately 44% to over 312,000 square meters. Located on the renowned “Mei-Tai-Hang” retail corridor, the site — formerly Westgate Mall, adjacent to the historic Majestic Theatre — will be transformed into a dynamic mixed-use complex where global trend-setting brands and new generations of consumers can connect through immersive, culturally rich experiences. 

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Center 66 Expansion

In a strategic partnership with Wuxi Liangxi City Development Group Co., Ltd., Hang Lung has secured a 20-year operating lease to redevelop the former Wuxi New World Department Store, next to the existing Center 66 complex. The project will add approximately 47,000 square meters of commercial space, increasing Center 66’s total retail area by 38% to around 169,000 square meters. 

Designed with seamless integration in mind, the expansion will boost Center 66’s appeal to a younger generation of discerning consumers, offering a modern, vibrant urban lifestyle. 

These V.3 projects underscore Hang Lung’s long-term commitment to sustainable growth, urban revitalization, and the delivery of exceptional experiences. 

Recent Hang Lung V.3 Examples

Project 

City 

Asset Enhancement 

Shangyi Street of  Spring City 66 

Kunming 

Create a must-visit streetscape destination for urban explorers and a photography hotspot 

Pavilion Extension of  Plaza 66 

Shanghai 

Expand Plaza 66’s retail space by 13% based on leasable floor area 

Westlake 66 Expansion 

Hangzhou 

Increase Westlake 66’s retail area by about 40% and street frontage by over 200% 

Center 66 Expansion 

Wuxi 

Increase Center 66’s retail area by 38% 

No. 1038 West Nanjing Road 

Commercial Project 

Shanghai 

Increase the total GFA of Hang Lung’s projects on West Nanjing Road by approx. 44% to about 312,335 sq. m. 

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