Surbana Jurong and Ping An Trust Co Ltd, a subsidiary of Ping An Insurance (Group) Co Ltd, have signed Memorandums of Understanding (MOUs) to collaborate on the development of Industrial New Township projects in China, starting with the Shenzhen International Bio-Valley Industrial Park. An Industrial New Township is a people-centric development model that integrates industrial developments and urban living to create sustainable cities for industrial and residential uses.

Under the agreements, the Shenzhen International Bio-Valley Industrial Park will be the partners’ pilot project. Located in Shenzhen’s Dapeng New District and covering 31.9 sq km, the Park is set to be a leading global bio-tech innovation centre and industry cluster. It is a key development project for Shenzhen, and Ping An Group has recently signed an agreement with Dapeng New District Management Committee to play a leading role in the development of the Park.

Ping An Trust, a major integrated finance conglomerate in China, is known for its technology-powered financial services and investments capabilities; while Surbana Jurong, with established expertise in design and engineering consultancy, has over 70 years track record in master planning, architecture design, engineering and project management in urban and industrial projects globally. The partnership brings together complementary strengths and the partners aim to collaborate in areas including master planning, infrastructure construction and business investments.

Ping An Trust highlighted that “Shenzhen International Bio-Valley is one of the top 10 innovation platforms of the Guangzhou-Shenzhen Science and Technology Innovation Corridor, identified by the Guangdong Provincial Party Committee and the Provincial Government. Ping An Group, together with Shenzhen City and Dapeng New District Management Committee, places great importance on the strategic positioning of the Bio-Valley project. Being able to leverage Surbana Jurong’s globally best-in-class planning vision and architectural design capabilities, Ping An Group could make an effort in the development of Shenzhen’s global competency in bio-technology industries.”

Teo Eng Cheong, CEO International (Singapore, Southeast Asia & North Asia) of Surbana Jurong commented, “Surbana Jurong is excited to partner with Ping An Trust on sustainable Industrial New Township projects in China, starting with the Ping An Shenzhen International Bio-Valley Industrial Park. We will leverage our many years of experience to plan and design Industrial New Towns that are economically, socially and environmentally sustainable.”