Rebirth: The Era of Hong Kong Tycoon

Chapter 241 [Subway Bidding]

At the auction, after competing with the Huangs and his son, Lin Rongheng won the land of the former Wing On Center. This seaside land is only 9.5 square feet, which can be referred to as a combined building for shopping malls and office buildings. Lin Rongheng bought 9500 billion Hong Kong dollars, and the unit price totaled 1000 Hong Kong dollars per square foot.

Next, Lin Rongheng and Huang's father and son were still fighting fiercely. In the end, the strong dragon did not overwhelm the snake. Lin Rongheng finally won the two coastal lands of the day, with a total area of ​​23 square feet; the price was also huge, and the two lands were enough. It took Lin Rongheng 2.1 million Hong Kong dollars

As for the other two pieces of land on the inner side, they were taken by Xinhe Real Estate. Lin Rongheng was not polite, and they paid a full price of 1.6 million Hong Kong dollars.

Obviously, both sides were angry, and other real estate developers didn't dare to ask for the price, because it was already out of the current value of the real estate.

And as far as Lin Rongheng knows, in his previous life in 1976, the Hong Kong government’s annual land auction funds were only 5 million Hong Kong dollars; this shows that today, at least more than the previous life, the auction price is about 1 million Hong Kong dollars, and the premium is as high as about [-]%. .

After the auction ended, Huang's father and son took the initiative to come to Lin Rongheng and said, "Mr. Lin is indeed a big friend of Xiangjiang's real estate industry. Today we are not wronged!"

Reaching out without hitting the smiling face, Lin Rongheng also said politely: "East Tsim Sha Tsui is indeed a treasure land, isn't Boss Huang also optimistic about it?"

Huang Tingfang said seriously: "Boss Lin, Xinhe Real Estate and the Huang family are indeed inferior to Evergrande Real Estate and the Lin family in terms of strength, but we really want to buy high-quality land like Tsim Sha Tsui East! I wonder if we can discuss it." One thing, in the next auction, we will not compete with you for the coastal land, and you will not bid for the inner land with us!"

Lin Rongheng hesitated immediately, and said after a long time: "The inner land is about 120 million square feet, can you take it? The land price may double in a year, and other real estate companies in Xiangjiang are not weak!"

Huang Tingfang said: "What I mean is that our two companies don't need to compete viciously like today. The specific situation is naturally a fair competition!"

Lin Rongheng said: "Okay then! If Sino Land's bidding for the inner land is fierce, I don't have to participate. After all, my main goal is the coastal land!"

Lin Rongheng didn't say anything about the coastal land at all. If Xinhe was willing to bid, he would be worthy of it.

The two sides chatted briefly and then separated.

The next day, all the media in Hong Kong were reporting the fierce confrontation between Evergrande Real Estate and Sino Real Estate at the auction.

The high bids of the two real estate companies were even ridiculed by industry insiders as crazy.

Lin Rongheng didn't pay attention to so much. After taking the land, he immediately prepared a hotel and a comprehensive center building on the two lands.

At the beginning of January 1977, the subway company announced that it would openly accept bidding. The site was the original site of the General Post Office (Central Station).

The night was quiet and chilly.

Lin Rongheng took a walk in the garden (front yard) of No. 66 Villa in Deep Water Bay. He didn't care to watch the flowers and trees under the moon, but fell into deep thought.

In the matter of bidding for the property above the subway station, one cannot be sloppy, and it is absolutely impossible to hand it over to others.

The subway project is the largest public project since the opening of Hong Kong. The entire project is planned to be completed in eight years and will cost approximately HK$205 billion.The first phase of the project is from Kwun Tong, Kowloon, through the subsea tunnel to Central, Hong Kong Island, with a total length of 15.6 kilometers, a total of 15 stations, and a cost of about 56 billion Hong Kong dollars.

The source of funds for the subway project is mainly from the Hong Kong government providing guarantees to obtain various long-term loans from banks, the subway company selling shares in the stock market to raise funds, and the profits from the joint development of the subway company and the real estate company on the property above the station.

Central Station and Admiralty Station are the most important subway stations with the largest passenger flow; Central Station is the end of the first section of the subway, located in the most prosperous banking district in Hong Kong; The transfer station of the island east branch line, near the Hong Kong Government Offices, the Supreme Court, the Navy Headquarters, the Police Headquarters, the Red Cross Society, the Museum of Cultural Heritage and other famous buildings, and the Central Banking District is within easy reach.

Some people say that Central Station and Admiralty Station are like the two thighs of a chicken, and the properties on them can be built into the most profitable properties on the entire subway line. Real estate developers are all dying.

Lin Rongheng couldn't help being moved by it, but Lin Rongheng didn't care about its huge profits, but the reputation of Evergrande Real Estate.

Today, the strength of Evergrande Real Estate and Landmark can be said to be evenly matched. The market value of Evergrande Real Estate is higher than that of Landmark, and the background of Landmark is higher than that of Evergrande Real Estate.Lin Rongheng has been in the real estate industry for seven years, and his greatest wish has always been to surpass Hongkong Land. It can be said that this time the property on the Central Station is just an opportunity.

Evergrande Real Estate has two competitors, one is Hongkong Land and the other is Cheung Kong.

There is a very popular saying in Hong Kong business circles: "It's easy to shake mountains, but hard to shake land!" Lin Rongheng estimated that there will be big British real estate developers and builders such as Landmark, Swire, and Golden Gate participating in the bidding this time, as well as real estate companies such as the Five Tigers of Chinese real estate. business.

Evergrande Real Estate and Hongkong Land, which have the loudest calls to win the bid, are both strong.

The Central District of Hong Kong Island is the "old nest" of Landmark. Landmark owns more than 10 skyscrapers in Central. Landmark Plaza and Connaught Building are located on the two wings of Central Station. Central Station happens to be on Chater Road. When you visit Garden Plaza, you can know Hongkong's status in the Central District based on the names and owners of these properties and streets.

Even, many members of the public and the media refer to Central Station as Chater Station.

As for Admiralty Station, it is only over 100 meters away from Chater Garden Plaza, and it is literally under the nose of Landmark.

Having won the development rights of Central and Admiralty Stations, Evergrande Real Estate and the Lin family are equivalent to entering the heart of Central District and taking food from Landmark's tiger's mouth.

In the previous life, Cheung Kong won the right to develop Central and Admiralty Stations, so there must be some top-secret coup.

Therefore, Lin Rongheng did not dare to take a peek at Changjiang Industrial, although at this time Changjiang Industrial was only [-]% to [-]% of the strength of his previous life.

Hongkong Land may not condescend to calmly study the intentions of the partners and cater to the subway company, but Li Chaoren will definitely think of how to impress the subway company.

Lin Rongheng was pacing in the yard, hoping to recall from his mind—the description of Li Ka-shing's biography read in his previous life. With the passage of time, Lin Rongheng seemed to think of three key points:
First: Li Chaoren must first sell all the properties he built, because the quick return of money is what the subway company wants to see; if there is a bidding company stating on the bidding document that the built property is used for rent collection, the subway company will never agree .

Second: The subway company is in urgent need of cash. The land at Central Station is only 2.4 square feet, but the Hong Kong government asked the subway company for 2.4 million Hong Kong dollars, and the unit price is 10000 Hong Kong dollars per square foot. It will be less than 2 million Hong Kong dollars.The property on the Central Station has built a 27-storey commercial center and office building with a total sales of 6 million Hong Kong dollars; and the Admiralty Center on the Admiralty Station has sold 9.8 million Hong Kong dollars.

Third: In his previous life, Li Chaoren broke the unexpected 51-[-] sharing model in the bidding document, and instead let the subway company enjoy [-]% of the profits.

(End of this chapter)