Rebirth: The Era of Hong Kong Tycoon

Chapter 298 [Old Wing of Miramar Hotel]

Since June, Evergrande Real Estate and Lin Rongheng have obviously accelerated their acquisition of properties in Xiangjiang; Evergrande Real Estate mainly acquires old residential buildings and land, while Lin Rongheng personally mainly acquires buildings, commercial land, and high-end residences.

The real estate market in Xiangjiang is very large, coupled with the sluggish real estate market and the market panic, Lin Rongheng's behavior will not cause adverse behavior.

The two buildings that were sold to the Japanese consortium—Federal Building and International Building—unexpectedly returned to Lin Rongheng again; they were sold for 22 billion Hong Kong dollars, but now Lin Rongheng bought them back for only 13.8 billion Hong Kong dollars.

Lin Rongheng came to the office of Simon Keswick, Jardine Taipan, Kangle Building, to discuss the matter of taking over the old wing of Miramar Hotel.

In August 1981, Hongkong Land and Carrian Group formed a consortium to buy the old wing of Miramar Hotel at a sky-high price of 8 billion Hong Kong dollars. The land was only 28 square feet, and the unit price was more than 8.6 per square foot.The agreement signed by the two parties is to pay off the land price in three years, and Hongkong Land and Carrian Group have already paid about 3 million Hong Kong dollars.

Now that Carrian Group has closed down and Hongkong Land is facing a serious debt crisis, this project will naturally be abandoned by Hongkong Land; abandoning this project not only means that the previous payment will not be recovered, but it may also be sentenced to breach of contract and pay a sum of money. Liquidated damages.

Lin Rongheng thinks this land is very worth owning. Firstly, it is a large-scale commercial land with an area of ​​8.6 square feet. Secondly, it is located opposite the Kowloon tourist area and Kowloon Park.

In later generations, this piece of land was finally taken by Zheng Yutong, and Miramar Plaza was built. The lower eight floors are shopping centers, each with an area of ​​about 6.8 square feet, and the total area is 54 square feet; the upper part is an 18-story office building, each with an area of ​​39100 square feet. feet, with a total area of ​​about 70 square feet.

Lin Rongheng was very tempted by such a rental property, and planned to put it in Evergrande Real Estate for long-term rent collection.

Under the leadership of Secretary Simon Keswick, Lin Rongheng came to his office. Both of them were very enthusiastic. After all, there must be enough work to save face, although the competition between Lin Rongheng and the Jardine Department was fierce.

After sitting down, Ximen said seriously: "Mr. Lin, your grasp of timing is unmatched in Xiangjiang! If the management of the Jardine Department had half your sense of danger, the situation like today would not have happened! "

The struggle between the Keswick family and Newbikin and other management has just passed, and Newbikin was forced to leave Hong Kong with a compensation of 100 million pounds; the Keswick family is naturally dissatisfied with Newbikin and other management Yes, this is simply a mess left to the Keswick family.

At present, Hongkong Land intends to negotiate with the Hong Kong government to cancel the development plan of the Queen's Garden lot, to negotiate with the Miramar Hotel to cancel the Miramar Hotel's old wing plan, and to dissolve the New Century Real Estate Company combined with Far East Development; only by canceling these three plans, the lost tar The contract and liquidated damages are expected to be around 19 billion.

Lin Rongheng said with a smile: "With the ability of Ximen's Taipan, it is easy for Land Land to get out of the trough."

It is nothing more than selling some assets and preserving some real estate projects. When the real estate market turns warm, the land crisis will naturally be resolved; of course, if the bank is willing to do its best to rescue, the Keswick family is confident that they may not even need to sell their assets.

Simon Keswick smiled bitterly: "It's so easy there! Banks are tightening their finances, and the future of real estate is uncertain. Jardine is selling off some overseas assets to save Landmark."

Lam Wing Hang is not interested in Hong Kong Land's self-help, and will not participate in a hostile takeover of Hong Kong Land in the future.

In the previous life, Hongkong Land began to sell off its assets aggressively in the late 80s. By the mid-90s, there were only seven properties left in the Central District, and only the Jardine Building, Glorias Building, Duke Building, Prince Edward Building, and Swire Building in the Central District remained. Building, Hong Kong Council Building, Exchange Square, commercial buildings with a total property area of ​​486 million square feet.

In this life, the Exchange Square has been in the hands of Evergrande and the Lin family. If Landmark sells off the rest of its assets, there may only be 300 million square feet of rentable area left.

Talking about the business, Lin Rongheng held up his dragon-slaying knife and said, "As for the old wing of the Miramar Hotel, my family can pay the remaining funds, and at the same time, it also prevents Landmark from being sued for liquidated damages by the Miramar Hotel."

Without paying a penny, let Landmark and Carrian directly give up.

Simon Keswick had predicted such a result earlier, but he still fought for it: "Mr. Lin, we are negotiating with the Miramar Hotel, and we may not need to pay liquidated damages. After all, they have already received an advance payment of 9 million Hong Kong dollars. If We got nothing, so why give this project to you guys."

Lin Rongheng said with a smile: "In Ximen Taipan's view, this is indeed the case. But from my point of view, the land in Xiangjiang generally fell by 40% to 60%, which is 28 billion Hong Kong dollars, at least 11 billion Hong Kong dollars. Beautiful The old wing of Hua Hotel is only worth 17 billion Hong Kong dollars. And now, I still need to pay Miramar Hotel 19 billion Hong Kong dollars. It is impossible for Miramar Hotel to let Landmark not pay any liquidated damages, it’s just a matter of how much.”

Simon Keswick insisted: "Although land prices generally fall by 40%, the old wing of the Miramar Hotel is a high-quality land. Mr. Lin only needs to hold it for a few years, and it will be able to rise a lot. Take it back, they will not continue to sell, after all, they have made 9 million Hong Kong dollars in vain, so naturally it will miss Mr. Lin. Mr. Lin and Evergrande Real Estate have always been good friends in real estate in Hong Kong. I heard that they are still buying properties on a large scale recently. , I think such land must be what Mr. Lin needs. Therefore, if Mr. Lin buys it at a price of 1 million Hong Kong dollars, we are willing to facilitate the transaction.”

Lin Rongheng nodded, without mother-in-law, this piece of land is indeed worth 20 billion Hong Kong dollars (19+1), although he did not dare to buy it now, but it was really taken back by the Miramar Hotel, Lin Rongheng definitely has no chance.

Seeing that Lin Rongheng agreed, Ximen was very happy and didn't need to hide it at all.

With the conclusion of this deal, at least [-] million yuan in losses can be recovered from Landmark. It is impossible for the Miramar Hotel not to accept liquidated damages.

Since before the Sino-British negotiations, all the companies under Lin Rongheng maintained financial health, so during this period, these companies have been dispatched to acquire assets.

Carriand Group went bankrupt and owned 22% of Japan's Nikkatsu Cinemas, which was also acquired by Universal Pictures at a low price.

Hong Kong’s real estate is worth hundreds of billions of Hong Kong dollars, and the 200 billion Hong Kong dollars of bottom-hunting funds from Lin Rongheng and Evergrande Real Estate have no problem being digested, because the market has already panicked, and there are many real estate companies and rich people who are eager to sell assets, some of which are due to financial problems. , and some are due to planned immigration and capital travel.

At this time, the net worth of billionaires in Hong Kong has increased by billions of Hong Kong dollars. As long as the real estate industry recovers, there will probably be more than ten billionaires.

So Lin Rongheng warned himself that he, a billionaire, still needs to work harder.

(End of this chapter)