Hong Kong's Heng Yee Co is the parent company of Shanghai Hengyi, which will be managing Bund 18 for 20 years. This is Heng Yee's first venture in Shanghai. Its major shareholder is Yu Wei Group in Hong Kong, a company mainly involved in investment banking and the trading of shares and futures.

The current management of Bund 18 began negotiating with the owner of the building, Shanghai Jiushi Corp, in February 2002 and signed the contract for its renovation on 20 November 2002. The restoration and renovation work was basically completed on 20 November 2004 at a cost of nearly US$15 million. It is reckoned that the project will not be able to recover cost until the seventh year of operation. In other words, it will not be reporting profit until the tenth year after its formal takeover.

Bund 18 will be home to seven to eight brand-name stores, such as Cartier and Zegna, as well as upmarket Chinese and French restaurants.