Started from Hong Kong Island

Chapter 171 [Auction]

Sunday, December 12

Many luxury cars gathered at the Mandarin Oriental Hotel in Central. The current head of Hang Lung Group, Chen Zengxi, the boss of Hopewell Holdings, Wu Yingxiang, the chairman of Sun Hung Kai Properties, Kwok Tak-sing, the operator of the rising Cheung Kong Group, Li Jiacheng, and other Chinese real estate tycoons attended the official land auction.

As for the British companies, Hong Kong Land only sent a vice president-level figure, as did Hutchison Whampoa Group. The bosses or heads of other companies all attended.

These people naturally didn't know Li Wendi, and Li Wendi would not rashly go over for a "shameless encounter" because he felt that these giants would recognize him sooner or later, it was just a matter of time.

Seeing those Chinese tycoons flattering each other, Li Wendi felt a little jealous. In fact, many of the tycoons had more or less some connections with each other. For example, they might cooperate in the development of a certain piece of land. In his previous life, Li Jiacheng relied on his reputation to get a lot of lucrative cooperative development land projects.

So reputation is sometimes very important and can bring huge benefits, but unfortunately, this road is long and arduous for Li Wendi.

"Boss, today's scene is quite big. All the major British companies have sent people here, and the boss of the Chinese company is here in person. I wonder how fierce the competition will be." Zhang Wentao and Li Wendi were walking only half a body length apart, their eyes constantly glancing at the people around them.

Li Wendi glanced at the small groups again and said seriously, "They will compete for the large and advantageous plots of land. We will focus on the small and high-quality plots of land to avoid competing with them."

Today, neither Changxin Real Estate Company nor Zhongyu Real Estate Company has much experience in land development, so there is no need for them to spend a huge amount of money to acquire them. After all, there are still many high-quality large plots of land in Hong Kong. The two companies can wait for them to grow and then acquire some of them at a high price.

"Yes!" Zhang Wentao and Wang Tichuan nodded.

Soon, a familiar figure came forward and said, "Mr. Li, with you here today, I have another strong opponent."

Li Wendi looked up and saw that the person coming was none other than Chen Xingzhou, the chairman of the board of directors of Changheng Real Estate Company. Chen Xingzhou was now naturally full of energy and vigor. He owned two listed companies with considerable market capitalizations and actual assets of tens of millions, making him a leader among the younger generation.

"Mr. Chen, you're joking. Everyone knows that Mr. Chen is a well-known figure in the real estate industry in Hong Kong." Li Wendi laughed. He has cooperated with Chen Xingzhou many times, so it is okay for him to make some jokes.

"Come, let me introduce you. This is Mr. Huang Zhixiang, the deputy general manager of Sun Hung Kai Properties. The Huang family is very powerful in Southeast Asia, and of course, they are also quite famous in Hong Kong." Chen Xingzhou looked at the young man next to him with a thin face. His age was similar to that of Li Wendi and others.

"Hello, Mr. Huang! I've heard of the reputation of Sino Land Company for a long time. I bought a lot of Sino Land Company's shares when it was listed. Unfortunately, I needed funds to turn over later, so I had to sell them. Now seeing the stock price of Sino Land Company, I really regret it." Li Wendi's words were half true and half false.

However, in Huang Zhixiang's eyes, Li Wendi's words were all polite and polite.

"Mr. Li's Changxin Real Estate and China Entertainment Real Estate are quite large in scale. We will need to cooperate with each other more in the future." Huang Zhixiang smiled politely.

The three of them continued chatting for a few more sentences and then separated because the auction was about to begin.

The host gave his opening remarks as usual, but he didn't speak for too long.

"Okay, the first piece of land we are auctioning today is an industrial land in Kowloon Bay. It has an area of ​​5.7 square feet and the starting price is 1300 million yuan. Each bid increase must not be less than 20 yuan. Start bidding!"

The auction hammer fell with a bang.

The 5.7 square feet of industrial land is enough to build two buildings. According to the current market conditions, the land can earn about 1500 million. However, the real estate market is booming, and real estate developers naturally believe that there is still room for appreciation, so they may be able to earn 3000 million in a year. Therefore, small real estate companies began to compete for this piece of land, and once called the price to 1600 million.

It was not until Huihuang Real Estate Co., Ltd., a relatively powerful small real estate company, offered 1650 million that those small real estate companies gave up.

Li Wendi knew that the industrial land in Kowloon Bay had great development prospects, but once the stock market fell, real estate would suffer one after another, and industrial land would be the first to be affected.

"Boss, this piece of land is very valuable, no worse than some commercial land." Wang Tichuan reminded bravely.

Li Wendi shook his head. "Our strength is limited. We can only grab the land in our plan. If we are too greedy, the overall plan may be seriously affected, and the loss will outweigh the gain."

Soon, the auctioneer brought down the hammer, announcing that Huihuang Real Estate Company had won the first piece of government land for $1690 million.

The second piece of government land is a commercial site located near Quarry Bay, which can be used to build residential buildings or commercial buildings.

Although Quarry Bay is now a dock site and building residential buildings there may not necessarily attract citizens, there seems to be a good market for commercial buildings.

As a result, some relatively powerful medium-sized real estate companies also joined the bidding, raising the auction price by nearly 4% before the property was won by a medium-sized company.

When they reached the seventh piece of government land, Li Wendi signaled Wang Tichuan to follow up and bid.

Wang Tichuan nodded in understanding, raised card No. 58, and shouted, "1200 million!"

The bid was 300 million more than the previous bidder. The auction was a little quiet at this time, and even the auctioneer looked at Wang Tichuan in a daze for a while.

Seeing that the auction venue was too quiet, the auctioneer immediately coughed twice, and the auction hammer fell, waking everyone up with a bang, "1200 million for the first time!"

Some companies wanted to bid, but shook their heads, put down their signs, and stopped bidding.

The other party is a complete rookie who completely disregards the rules of the auction. If I continue to bid, it would not be cost-effective to get it at too high a price.

So Li Wendi bought a residential land of 1200 square feet in Pokfulam for HK$4.6 million. According to the volume ratio, Li Wendi can build two 30-storey residential buildings. The profit cannot be estimated for the time being (because the Pokfulam area has not yet been developed).

In fact, this was a bidding method that Li Wendi had discussed in advance. Relying on his status as a newcomer to the auction, he could do something a little outrageous so as to catch those elites off guard and seize the opportunity to grab this piece of land with huge potential.

Huang Zhixiang of Sino Properties has acquired two plots of land in Tsim Sha Tsui with a total area of ​​7.3 square feet, which can be used to build two high-end commercial buildings with an area of ​​3 square feet.

Li Wendi guessed that Sun Hung Kai Properties did not intend to own these properties for a long time and would most likely sell them to recover funds. The Huang family currently did not have enough strength and interpersonal relationships to gain a foothold in the upper class of Hong Kong.

(End of this chapter)