The Wealth Empire Crossing the Hong Kong

Chapter 328 Actively respond to market changes
After more than half a month of internal review, the situation of Xinjian Bank's Xiangjiang sub-branches has been basically investigated. Tseung Kwan O sub-branch is obviously not an exception. Tianshuiwei sub-branch, Dapu sub-branch, Shatian sub-branch, etc. have more or less the same problem as Tseung Kwan O sub-branch. , but not as unscrupulous as the Tseung Kwan O branch.

At ten o'clock in the morning on April 4, Li Jianhui held a high-level joint meeting of Xinjian Bank, Xinjian Real Estate, Hutchison Land, and Wheelock Land in Conference Room 8 of Wheelock Building.

As a capitalist economy, Xiangjiang's economic development follows market changes. There is not so much macro-control here, and there is no government to support it.

Since the news of the thunder in London, the housing prices in Xiangjiang have peaked this round, and the downward channel has opened.

The first to panic were those speculators who held multiple houses, and in order to cash out as soon as possible, they took the initiative to lower the selling price.

After that, there are those middle-class people with a little strength, who would rather be peace dogs than people in troubled times. Because of worries about the future, this part of them began to choose the way out, and began to sell their own real estate, so that the supply exceeded demand. As time passed, , the price is also not short-term reduction.

There is no record price here, and there is no price limit order. Affected by the market, developers have to choose to lower the opening price. They don't want to make a lot of money. As long as they don't lose money, the company can operate normally.

Many people still remember the crisis in 73. They don't want their companies to disappear into the long river of history like those bankrupt companies.

Especially since 79 years, the North has proved to the world its determination to maintain its territorial integrity, even with the support of the world hegemon, it still dares to fight back.

As a result, the property market now sells more and sells less, and the wait-and-see mood is strong. As long as the problem is not determined for a day, the property market will remain in a downturn.

No matter how Li Jianhui and others express their views, and no matter what projects they invest in, it will be difficult to reverse the current cold property market.

The collapse of the real estate market this time was not due to economic problems, but some forces were fanning the flames, so it came faster and more violently.

At this meeting, Li Jianhui first listened to a brief report on the situation of several major groups in the first quarter, and then gave pointers on the development direction for the next period.

"Our major real estate groups are not bad. Except for Tianshui City, which must be developed, they have not developed new projects since the second half of last year, and the developed projects have been sold except for Tianshui City. The crisis will not affect us too much.

Next, we will continue to adhere to our development strategy, focusing on the development of Taiwan and the Japanese market, especially the Japanese market, which is estimated to have a golden period of real estate for about ten years.

As for Xiangjiang, I estimate that this round of downturn in the property market may last for three to four years. We can focus on the development of Tianshui City in the past few years, and we will not be involved in other real estate development projects in the past few years.

But we should not stop our land reserves. The current downturn in the property market is only short-lived. As long as the two parties settle peacefully on Xiangjiang, the property market will inevitably usher in a period of rapid development. "

At present, there are quite a few construction projects under the Xinjian Department in Hong Kong, such as Tianshui City, Huihong City, Whampoa Garden, etc., as well as the Tseung Kwan O Commercial Complex, Tseung Kwan O and Tin Shui Wai Tak Fung Plaza, and Ap Lei Chau Lane Crawford shopping center.

In addition, there are Phoenix Basketball Stadium in Sham Shui Po, Kwun Tong Tesco Sports Center, Tseung Kwan O Jiayi Opera House, etc.

Regardless of the fact that the three major real estate groups have not developed new projects since the second half of last year, the investment in these projects under construction can still make several major groups rank among the top five in the annual investment of Heung Kong Real Estate.

In particular, Xinjian Real Estate, which is only two projects under construction in Tianshui City and Huihong City, ranks first in terms of annual investment. Even Wheelock Land Group, which has two Wheelock Squares under construction, cannot beat Xinjian. Build real estate.

That is to say, Li Jianhui is not willing to let Xinjian Real Estate go public now, otherwise Xiangjiang's largest real estate listed company must be Xinjian Real Estate, and it will even directly become the first listed company under the Xinjian Department.

Thinking back a few years ago, Xinjian Real Estate acquired hundreds of hectares of land from Tin Shui Wai and Tseung Kwan O at 1.5 Hong Kong dollars per square foot. Now, the lowest price per square foot in these two places has exceeded [-] Hong Kong dollars.

Not counting the profits obtained by Xinjian Real Estate from developing real estate projects, just this land even made it a profit of billions of Hong Kong dollars.

Once the fast track and subway from Tin Shui Wai to the main city, the subway from Tseung Kwan O to Kowloon, and the subsea tunnel in the Eastern District are completed, and the Hong Kong property market rebounds, Xinjian Real Estate will surely skyrocket when it goes public.

Unlike Xinjian and Hutchison, two major real estate groups, Wheelock Land mainly develops commercial real estate, and focuses on the construction of Wheelock Square.

At present, Wheelock Land has basically completed the development of other aspects, and the focus is on Wheelock Square.

In addition to the two Wheelock Plazas in Hong Kong, there are six plazas under construction in Lisboa, Taipei, Kuala Lumpur, Bangkok, Chiang Mai, and Singapore.

Because Wheelock Plaza in Lisboa is expected to be invested and used at the end of this year, Wheelock Land is basically an investment and rarely makes a profit, so that it was once the first listed company under the Xinjian Department. Buddha, Watsons, Xinjian Bank, Hutchison Land, Whampoa Holdings, Wheelock Holdings, etc. surpassed.

Moreover, Wheelock Land is also one of the few banks under Li Jianhui that has loans from banks. If it were not for Xinjian Bank, Malay Public Bank, and Bank of East Asia, the construction of so many plazas at the same time would directly make Wheelock Land bankrupt. .

Li Jianhui asked several major companies to make good land reserves. In Su Hongtao's view, his own company did not need that. Heung Kong already had two Wheelock Plazas, and Sham Shui Po already had land reserves for the future construction of Wheelock Plazas. There are three in Xiangjiang, which are somewhat redundant. If Li Jianhui and the government did not request, he would not want to build the one in Sham Shui Po.

Therefore, there is no need for Wheelock Land to reserve land in Xiangjiang. It is better to find a better market to build a Wheelock Plaza with that spare money.

For example, in Kaohsiung, Seoul, Tokyo, Osaka, Jakarta, Bandung and other places, for Wheelock Land, it only makes money after it is built. Live on rent.

Li Jianhui did not insist on this, but asked Xinjian Real Estate and Hutchison Real Estate to reserve land as much as possible for future development.

The land that has been won and not developed for the time being is leased to the Tianshui Vegetable Planting Company, which will manage the land in a unified manner to prevent the land from being abandoned.

In addition, Li Jianhui also asked Pan Desheng, vice president of Xinjian Group and president of Xinjian Real Estate, to go to Taipei as a representative of Xinjian Group to discuss with the Taiwan government on the investment in Taipei MRT with the president of Asian affairs of Lanfeng Holdings and the vice president of Nanlong Holdings.

The bottom line for Xinjian Group is to obtain property development rights for four of the twelve Taipei MRT stations, two of which must be located in prosperous areas.

(End of this chapter)