Rebirth: The Era of Hong Kong Tycoon

Chapter 124 [Party 1]

On Friday, Lin Rongheng received an invitation. Guo Desheng invited Lin Rongheng to attend a gathering among friends tomorrow.

Since the last time Evergrande Real Estate and Sun Hung Kai Properties jointly developed an industrial building project, everyone has become acquainted, and occasionally get together to discuss the real estate situation.

At this time, it was the time when the five tigers of Chinese capital real estate rose, because they bought real estate raw materials-land and old buildings in a big way during the low tide of real estate in 1967. The medium-sized real estate company started to develop into a large real estate developer.

Therefore, before 1969, the so-called "Five Tigers of Huazi Real Estate" were only medium-sized real estate developers in Xiangjiang, or even small-scale real estate developers.

For example, Li Chaoren's Cheung Kong Industrial Co., Ltd. was only a small real estate developer before 1967, not even a real estate developer; then, taking advantage of other people's wanton selling of properties, Li Chaoren used all his savings to buy those old buildings , and then took advantage of the low labor and commodity prices in 1967 to renovate and rent out; since the real estate boom in 1969, Li Chaoren's strength has increased by two or three times, and he has stepped into the medium-sized real estate industry in one fell swoop.

Sha Dantong, for example, bought more than 1968 lands through sole proprietorship and joint ventures when the real estate market was at a low point in 20; in 1969, the real estate industry began to flourish, and its wealth immediately increased exponentially.For example, in 1968, these people only had 1000 million Hong Kong dollars, and they bought it as a property. Then in 1970, even if there was no development, the assets would triple.This growth rate of assets soon caught up with the original large real estate developers, which is why three of the "Five Tigers of Huazi Real Estate" were not well-known real estate developers in the 60s.

Sun Hung Kai is even more powerful. At the time of listing, the property assets were 1967 to 1000 million Hong Kong dollars, which did not include the three of them having their own private real estate companies; in 1972, Lee Shau Kee was investigating immigration in Canada. Ten thousand Hong Kong dollars, I can live well in Canada, but I can't make a breakthrough in my career, so I returned to Hong Kong to develop.When the Three Musketeers separated in 5000, Lee Shau-kee was able to receive 20 million Hong Kong dollars in property and cash. His private real estate company still had more than 1 sites. At that time, his net worth was already more than 10 million Hong Kong dollars.In five years, the return rate of more than [-] times shows that Xiangjiang's real estate has also experienced a high increase.

Needless to say, Guo Desheng is not only the most determined of the Three Musketeers, Li Zhaoji also followed Feng Jingxi to Canada for an investigation. There can be several million Hong Kong dollars in income. I am afraid that by 60, Guo Desheng's net worth was already hundreds of millions of Hong Kong dollars.

As for Hopewell Real Estate, although it was established in 1969, Hu Yingxiang's father, Hu Zhong, is the "taxi king" in Xiangjiang, and the family also has an old real estate company, Central Construction.When the industry and the media listed the "Five Tigers of Huazi Real Estate" in 1972, the most promising real estate company was Hu Yingxiang's Hopewell Real Estate; because Hu Yingxiang graduated from the Department of Civil Engineering of Princeton University, a prestigious university in the United States, and returned to Hong Kong to work in the Hong Kong Government's Public Works Bureau As a teacher and technical officer, before listing, you can borrow 1500 million Hong Kong dollars from HSBC.Therefore, when the stock market was booming, Hopewell had the highest market value, once as high as 36 billion Hong Kong dollars; if it were not for the fake stock incident, Hopewell would not be behind the four major families.

Hang Lung Real Estate is the earliest "Five Tigers of Chinese Real Estate" to enter the real estate industry. It has entered the real estate industry in the early 50s; thanks to a land exchange transaction with the Hong Kong government in the early 60s, its strength has grown rapidly; at that time, the Hong Kong government needed Hang Lung to own The Princess Margaret Hospital was built on a hill behind the Lychee Garden in Kowloon, so Ho Man Tin Hill was exchanged with Hang Lung; Hang Lung made a fortune in the development of the Hang Shun Court residential building in Ho Man Tin Hill, which laid the foundation for the company's future development in the real estate industry. Base.

The "Five Tigers of Huazi Real Estate" are strong, but Evergrande Real Estate is not far behind them, and even slightly outperformed them, especially in commercial buildings; of course, if you compare bank loans, Evergrande Real Estate's strength is Behind Sun Hung Kai.

At this time, Lin Rongheng did not dare to issue new shares on a large scale. There are two main reasons:

First, his own stock has been diluted to about 61%, and he actually only owns 52%, because 9% of the shares are properties purchased by Lin Rongheng with borrowed money from Wanguotong Bank, and then included in Evergrande Real Estate, increasing his holdings by 9% % of the shares, of course, are also their own shares.Fewer shares means that Lin Rongheng has better funds to cash out at high points, so if Lin Rongheng wants to buy bottoms from 1973 to 1974, he needs to pay attention.

Second, many of the favorable strategies of Evergrande Real Estate have already been used, and they need to be used carefully. Even if there are routines, they should be reserved for the real estate boom in 1972.

The next day, Lin Rongheng came to Lu Yu Teahouse in Central, walked into the private room and saw that next year's "Five Tigers of Huazi Real Estate", He Shanheng, He Tian and others from Hang Seng Bank, and Liao Liewen from Liao Chongxing Bank were also there.

In this era, we are still good friends, especially from 1967 to 1968, people in this circle often get together to chat about the real estate situation.

After the eighties and 90s, when everyone's business competition was on the table, they naturally became enemies; for example, the grievances between Lee Shau Kee and Lee Chaoren.
"Lin Sheng is here! Let me introduce everyone to you." Guo Desheng was not good at words, but Lin Rongheng was invited by him, so he naturally took the initiative to introduce.

After some introductions, everyone chatted with each other.

The private room is very large, it can accommodate 30 to [-] people without any problem, and there are delicious snacks on the table.

At this time, He Shanheng said: "In 1969, the total trade volume of Xiangjiang was 280 billion Hong Kong dollars. In 1970, the total trade volume of Xiangjiang was 328 billion Hong Kong dollars. In just four months in 1971, the total trade volume of Xiangjiang has reached 125 billion Hong Kong dollars. The average annual increase in trade volume is as high as about 18%, and Xiangjiang’s return on investment also ranks first in the world, much higher than that of the United States and other European and American countries.”

Lin Rongheng listened carefully, and the outside world said that He Shanheng was a real banker who liked to use data to explain problems; and He Shanheng himself not only became worth tens of billions of Hong Kong dollars, but also supported two large groups - Miramar Hotel, New World Real estate, both companies are later one of the 33 blue chips in the Hang Seng Index.

Bankers have always been the gods of wealth for real estate developers like Lin Rongheng. The relationship between real estate companies and banks is very important; especially when the real estate industry is in a downturn, if the banks support the real estate developers, the real estate developers will benefit a lot; If the latter refuses to lend, the real estate developer will be miserable.

Although Lin Rongheng knew the real estate trend of Xiangjiang, he also listened to He Shanheng's words with great interest and benefited a lot.

After a while, Zheng Yutong walked up to Lin Rongheng, and said with a smile, "The Galaxy Center developed by Evergrande Real Estate is a typical rental real estate project in Xiangjiang!"

Lin Rongheng said with a smile: "Zheng Sheng, last year won the old site of 'Blue Chimney' at a price of 1.31 million Hong Kong dollars, no matter in terms of geographical location or site area; the Galaxy Center cannot be compared with Zheng Sheng's big project. !"

In 1970, when real estate was booming, Zheng Yutong agreed to purchase the old site of Swire & Co., Blue Chimney at a sky-high price of 1.31 million Hong Kong dollars; this land is located in the coastal area of ​​Tsim Sha Tsui, with a total area of ​​20 square feet; because it was purchased by agreement, the purchase price It is not expected to be paid off until 1972.

(End of this chapter)