Rebirth: The Era of Hong Kong Tycoon

Chapter 287 [Central Earth King]

1982 2 Month 12 Day.

On the opening day of the "Land King" bid in Central, many media were squatting at the Hong Kong government, waiting for the announcement of the result.

As early as November last year, the Hong Kong government announced the sale of a 11-square-foot "Central Land King" located in the west of Kangle Building in the Central District through public bidding.

This piece of land was originally used by the Hong Kong government as a terminus for minibuses and minibuses. It can be said to be the center of the central commercial core area of ​​Hong Kong Island, and it is the king of land among the "land kings".

When the Hong Kong government announced the tender for this piece of land last year, many real estate developers and professionals predicted that the piece of land could be sold for a sky-high price of 70 billion Hong Kong dollars.However, now that real estate has begun to decline due to saturation, the specific auction situation is still unknown, and it must be impossible to reach 70 billion Hong Kong dollars.

Since it is in the form of 'tendering' rather than an auction, all real estate developers only need to wait for the Hong Kong government to announce the result.

This time, Evergrande Real Estate teamed up with Evergrande Real Estate to form a consortium to bid, and the shares were [-]% to [-]%.

To determine the ownership of the Central Land King through bidding, Evergrande is undoubtedly the most beneficial. Because Lin Rongheng is familiar with the price of Landmark in his previous life, he has a great chance of winning.

At the end of last year, Bao Fuda of Hongkong Land estimated in the media that the value of this land was more than 75 billion Hong Kong dollars, which seemed to be a big smoke bomb; in his previous life, Hongkong Land actually bid at a price of 47.5 billion Hong Kong dollars.

After many considerations, Lin Rongheng let Evergrande Real Estate bid for 52.5 billion Hong Kong dollars, which is nearly 5 million Hong Kong dollars higher than Landmark.

The buildings on this land are the famous trading buildings in the previous life. There are a total of three skyscrapers with a construction area of ​​up to 200 million square feet.

Evergrande Real Estate and Lin Rongheng are currently short of a landmark real estate project, so this time it is quite inevitable.

While Lin Rongheng was meditating in the office, Wu Hao walked in with a smile on his face, and Lin Rongheng also showed a knowing smile on his face.

Wu Hao said as soon as he entered the door: "We won the bid, boss! Just now the Hong Kong government sent back news that we won the bid with a slight advantage higher than No. 22.3 billion Hong Kong dollars!"

Lin Rongheng secretly thought it was too risky to bid next to the price of the previous life land!
It's not that I haven't thought about bidding at a higher price, but the real estate has indeed fallen significantly, and every real estate developer has already felt that the market has been adjusted. After all, Lin Rongheng is still reluctant to spend more than 10 billion Hong Kong dollars. It's the bottom line.

If Landmark wins the bid, Lin Rongheng will definitely be very upset, and maybe he will directly acquire Landmark in the future.

Lin Rongheng nodded and said, "Okay, we finally have a landmark building!"

In the 70s, real estate developers such as Hopewell and Sun Hung Kai had their signature buildings. However, although Evergrande Real Estate had many projects, it did not have any signature buildings. It only won by quantity.

Now, after winning this 14.4-square-foot land king in the central area, it's time to make a good plan!

The Exchange Building in the previous life consisted of two 55-storey buildings, one 33-storey building, a three-storey shopping mall connected to the first and second Exchange Square, and a large public garden.The shape of the entire three buildings is full of dynamics and large colored glass curtain walls, which greatly changes the scenery of Victoria Harbour.

Of course, these can only be used as a reference, and the specific design will naturally be completed by a world-class famous designer, and the construction can only be carried out after Lin Rongheng's approval.

Wu Hao said again: "This project is enough to increase our reputation! As for the development of the trade center, there are quite a few real estate developers who are interested in it. It seems that we need to spend some effort to get a chance!"

Lin Rongheng waved his hand and said with a smile: "Don't worry! We just need to express our intention to cooperate with the Development and Trade Bureau, and we don't need to spend our energy on it! We just need to wait for an opportunity, and this project will return easily. us!"

China and Britain are going to negotiate the ownership of Hong Kong, and many people may have met, but they are not sure about the direction of this matter and what consequences it will bring to Hong Kong; many people think that the mainland will not take it back. Hong Kong, because in this way, the mainland can make better use of Hong Kong to connect with the West.But these people would never have imagined that the issue of sovereignty should not be discussed.

Wu Hao was stunned. Although he didn't know the timing of what the boss said, he already felt that the real estate in Hong Kong was about to change.

Fortunately, Evergrande Real Estate already has the ability to resist risks.

The cash in the hands of Evergrande Real Estate is almost more than 30 billion Hong Kong dollars, which does not include the funds invested in gold futures (currently worth 8.5 million Hong Kong dollars); as for the debt, it is basically negligible, after all, it is a loan on the construction site. The house can be sold to pay off.

Lin Rongheng predicted that the construction capital of the entire Exchange Square would need about 35 billion Hong Kong dollars, so the Exchange Square would be equivalent to an investment of 87 billion Hong Kong dollars, which is definitely the largest commercial construction project in Hong Kong.

In March, the design drawings of Exchange Square were finalized.

It turned out that Evergrande Real Estate had been preparing for this project since the second half of last year. Although the Hong Kong government had not yet announced the tender, Lin Rongheng had already determined that the land must belong to Evergrande Real Estate.

Evergrande Real Estate announced the Exchange Square with a total investment of about 85 billion Hong Kong dollars, which can be regarded as a strong stimulus to stocks and real estate. After all, this project is too huge.

The construction fee of the Exchange Square is a combination loan, fully provided by a number of banks, with an annual interest rate of 12%, which is far lower than the market rate of 15% to 20%.

There is indeed a 20% loan in the market. During the real estate peak season, some real estate developers take risks because they do not meet the loan requirements; of course, banks are also taking risks. Who is to say that the return is high!

In March, Lin Rongheng asked the family office and Evergrande Real Estate to liquidate the gold futures in their hands, reaping a large amount of cash in one fell swoop.

At this time, the price of gold has dropped to 320 US dollars per ounce, and when Lin Rongheng first entered the market, the price of gold was as high as 650 Hong Kong dollars per ounce, which just doubled the profit of short selling.

After spending 26 billion Hong Kong dollars in land purchase fees (150% of the equity in Exchange Square), Lin Rongheng still has a cash flow of more than 10 billion Hong Kong dollars in his hands, which does not include his own private house money of nearly [-] billion Hong Kong dollars.

At this time, in Lin Rongheng's industrial chain, there is only one bank missing.

Although many banks in Hong Kong were taken over by the Hong Kong government after the Sino-British negotiations started, Lam Wing Hang didn't like all the banks. The one he liked the most was a bank called 'Hang Lung'.

Founded in 1935, Hang Lung Bank is a Chinese bank with a long history and has no relationship with Hang Lung Properties (Chen Qizong). In 1976, Zhuang Rongkun and Zhuang Qingquan, overseas Chinese businessmen from Fujian, Philippines, acquired 80% of the shares of Hang Lung Bank.Hang Lung Bank developed too fast in the 70s and over-speculated in the real estate boom in the early 80s. Once it encountered Sino-British negotiations, it would never escape the fate of being taken over.

In the previous life, after the Hong Kong government took over Hang Lung Bank, it was discovered that the bank had lost as much as 3.36 million yuan.Among them, as much as 2.66 million yuan was borrowed by the company's directors and related institutions with very little collateral.The fuse of the bank's takeover was the discovery of a debt of up to 8 million yuan owed by Diners to Hang Lung Bank. Afterwards, Standard Chartered Bank, which had always supported Hang Lung Bank, gave up its continued support and exposed the problem.In order to save Hang Lung Bank, the Hong Kong government injected a sum of money into Hang Lung through the Exchange Fund to save Hang Lung Bank.

Hang Lung Bank went bankrupt in September 1983. Lin Rongheng decided not to wait so long. After the Sino-British negotiations, he would do it himself and get it from the Zhuang brothers in advance.

(End of this chapter)