Rebirth: The Era of Hong Kong Tycoon

Chapter 167 [The Galaxy Center is sold out]

The next day, Wan Chai's Galaxy Center was crowded with people, and people who came to buy office buildings were like crucian carp crossing the river, making Lin Rongheng, Xu Shixun, and Liao Liewen all smiles.

Xu Shixun glanced at the Galaxy Center not far away, and sighed: "Amazing! We started the groundbreaking for this project in February 1971, and it took only 2 months to break the ground, and it will be flattened by the end of the year. This speed is really amazing!"

It is estimated that the Xinghe Center will take 23 months from the start of construction to the flat roof.

Lin Rongheng said with a smile: "Landmark's Kangle Building broke ground in October last year. It seems that the roof can be flattened in 10 months, and the efficiency is somewhat higher than ours."

According to history, Hongkong Land's Kangle Building was built at a record-breaking speed, and it took only one and a half years for the top to be flattened.

Xu Shixun joked: "Rongheng only has Hong Kong Land in his eyes now, and Huazi real estate companies have long been ignored."

Lin Rongheng waved his hand and said: "Xu Sheng can't say that, Hongkong Real Estate is the goal of all Chinese real estate; but the performance of Hongkong in recent years has not been satisfactory, and it will be a matter of time before it is surpassed by Chinese real estate. Jardine Matheson's investment in Xiangjiang Be prudent, and Hongkong Land is only using its own funds to carry out real estate activities, and at the same time invests too much in rental properties, so its development is bound to be slow.”

In the two years from 1970 to 1971, Evergrande Real Estate invested only 1.5 million Hong Kong dollars in business development, but leveraged 8 million Hong Kong dollars in development properties; just as Lin Rongheng predicted, Evergrande Real Estate will be fully Obtained a net profit of 3 million Hong Kong dollars, and returned funds as high as 4.5 million Hong Kong dollars.

After listening to Lin Rongheng's comments on Hongkong Land, Xu Shixun and Liao Liewen pondered. To be honest, many businessmen in Xiangjiang are very envious of Hongkong Land's model. Every year, they earn more rent than Chinese real estate developers except Evergrande Real Estate.

However, after all, Hongkong Land has developed for nearly 80 to [-] years, and has occupied the relationship with British capital; Chinese-funded real estate companies simply do not have so much time, and the Hong Kong government will not give such high-quality land to Chinese-funded real estate companies, so The land model is not feasible for most Chinese real estate companies
After chatting for a while, there were more and more people in the sales office. Liao Liewen asked, "According to this situation, can we all sell short today?"

Lin Rongheng said confidently: "I don't think it takes a whole day today, but a maximum of 6 hours to sell short!"

Beforehand, Evergrande Real Estate advertised in newspapers that the rent of the office building in Galaxy Center could reach HK$3.5 per square foot, while the selling price was only HK$350 per square foot. In theory, it only takes 8 and a half years to pay back; The speed of growth, I am afraid that it will not be difficult to recover the cost in six years.

Coupled with the peak of real estate nowadays, there are naturally many people investing in real estate.

There was a long line of people who came to buy real estate, all of them were small and medium businessmen from Xiangjiang, and they all chatted with the people before and after.

"I have been doing business honestly for ten years, and no one else has made as much money by speculating in real estate and stocks in a year. Today I also buy an office building for investment, which is much more cost-effective than storing in a bank!"

"Who says it's not! I have a friend who has made millions of Hong Kong dollars in real estate speculation in the past few years. I have only made a few in the years of business! Now the real estate is booming, and I bought an office building for rent, and the monthly rent It’s almost comparable to a small business!”

"That's right! Evergrande Real Estate advertises that it will pay back its capital in up to eight years, and earn an office building!"

"Evergrande Real Estate has a good reputation, and the houses can be delivered on time! The most important thing is that their boss is rich and powerful, with the support of Yankees, you can't go wrong buying their properties!"

The entire sales office is full of voices inside and outside, and more and more people join the queue, which shows that when real estate is booming, everyone joins in the purchase of properties.

If the real estate plummets, few people dare to buy it. The psychology of customers is: either the house will fall again, and it will be worthless. As everyone knows, no matter how stupid the real estate agent is, they will not sell the property to you at the price of cabbage , falling to a certain level, real estate developers would rather keep the house in their hands, wait for the market to digest it, and then take it out, and then the property will continue to rise; Psychologically missed the opportunity to buy the bottom.

When it was almost noon, Zhang Ruohuai came to report.

"Boss, Xu Sheng and Liao Sheng, 70% of them have been sold out. Seeing that there are still so many people in this team, it will be sold out in two hours!"

The three of Lin Rongheng smiled happily, especially Xu Shixun and Liao Liewen, who really made a lot of money with Lin Rongheng this time; Xu Shixun earned 4000 million Hong Kong dollars, and China State Construction may take a year and a half to earn this amount; Liao Liewen earned 2700 million Hong Kong dollars, for Liao Liewen It is also a huge benefit for the company.

Liao Liewen sighed and said: "In the past, everyone thought that commercial buildings were not making money. Only after following Rong Heng did we realize that it's not that commercial buildings are not making money, but whether the timing is right and whether they can operate them. This project can earn 1.3 million Hong Kong dollars. I'm afraid it will make the real estate developers in Xiangjiang hold a candle to it!"

Galaxy Center can be said to have various advantages: First, the cost of the land is only 2000 million Hong Kong dollars, because it is the reconstruction of old buildings, residential land to commercial land, which saves a lot of land cost; second, the time to choose to sell is the real estate Peak, it can be said that it will be sold at the highest price in the next four or five years, and it will take at least 1977 to recover today's price.Finally, just as the Hung Hom Tunnel was completed, property appreciation in Wanchai and Causeway Bay accelerated.

In short, the profit of this project exceeds 130%, which is very rare!

At 2:[-] p.m., Evergrande Real Estate announced that all the office buildings in the Galaxy Center were sold out, and it immediately became the subject of major media coverage.

The total price of the entire Galaxy Center is 2.55 million Hong Kong dollars, excluding costs and taxes of 1.2 million Hong Kong dollars, a total profit of 1.35 million Hong Kong dollars, also breaking the most profitable single property in Hong Kong.

Of course, the influence is far more than this. The reputation of the important Evergrande Real Estate has once again improved, and even the stock has begun to soar. The stock price has soared to 35.2 Hong Kong dollars per share, and the total market value has reached 26.3 billion Hong Kong dollars, which is only 2 million away from Hongkong Land Hong Kong dollars.

Of course, it is obvious that Evergrande Real Estate has a lot of water, but there is no way for stockholders to pursue it.

Moreover, Lin Rongheng knew that Hongkong Land's market value would soon more than double, because the 'bull war' was about to start.

The success of Galaxy Center this time has also provided Evergrande Real Estate with a lot of experience in the development and construction of commercial buildings. Next, Evergrande Real Estate will launch a high-quality building reconstruction plan, which will naturally be even more powerful.

At present, the distribution of high-quality buildings owned by Evergrande Real Estate is: five buildings in Central, two buildings in Wanchai, two buildings in Causeway Bay, one building in Kwun Tong, Kowloon, and a 4-square-foot high-quality commercial land in Causeway Bay.

十幢大厦的占地面积在2.8万平方尺到3.6万平方尺之间，如果重建的话，楼层在26层至33层之间，每幢大厦的收租面积在32万平方尺至40万平方尺之间。

After the reconstruction is completed, the rental area of ​​Evergrande Real Estate will increase to about 400 million square feet. Even with the current rent, the annual rent can reach the level of 1.6 million Hong Kong dollars.

Of course, the funds for the reconstruction of the 11 buildings are also huge, estimated at 6 million Hong Kong dollars to 8 million Hong Kong dollars.

Therefore, it is impossible to rebuild all at once. Lim Rongheng's plan is to 'complete the plan in 6 years';

(End of this chapter)