Started from Hong Kong Island

Chapter 380 378 [Furama Hotel]

This is a pleasant surprise. Although the Cheung Kong Group has more than 800 million square feet of land reserves, there is no such thing as too much land. If these lands are incorporated into the group system, the land reserves will exceed 900 million square feet, second only to Sun Hung Kai Properties.

Sun Hung Kai Properties is a company that focuses on real estate development and pays special attention to land reserves. Therefore, it is difficult for any real estate company in Hong Kong to surpass Sun Hung Kai Properties in land reserves.

Cheung Kong Group is a comprehensive enterprise whose businesses involve food, cement manufacturing, electronics manufacturing, real estate, textiles and clothing, department stores, etc. Its layout in real estate development is not as good as that of Sun Hung Kai Properties, and its helmsman Wendi Li likes to hold and collect rent from high-quality properties.

"Yes! Deng Ji Real Estate needs a lot of capital turnover, otherwise it will be difficult to sustain." Deng Jiaren spoke the truth. He was certainly not worried that Li Wendi would take the opportunity to acquire Deng Ji Real Estate, because the Deng family already held 47% of the shares, and Li Wendi was a tycoon in Hong Kong, and his reputation was more important than these land and properties.

Zhang Yan interrupted and said, "Mr. Deng, I heard that Deng's Real Estate is in a serious situation. Is it enough to pay off the debts by selling only half of its land reserves? It's better to sell more. Deng's Real Estate Company still has hundreds of thousands of square feet of land anyway."

Zhang Yan's words clearly showed that he wanted to swallow up some of the reserve land of Deng's Real Estate Company. In any case, it was a large area of ​​land, which would be very beneficial for Luckin Real Estate Company.

Li Wendi was naturally happy to see this happen. He had already acquired 86 square feet of land. As for how much Zhang Yan could get, that depended on Zhang Yan's own ability.

"How much can Luckin Coffee take?" After thinking about it, Deng Jiaren felt that it would be better to have more funds, otherwise he would worry about being forced to lower the price later.

Zhang Yan raised four fingers, "4 square feet. Even so, Deng Kee Real Estate Company can keep 40 square feet of land and build a residential building with a floor area of ​​more than 47 million square feet, and the profit will not be less than 400 billion yuan."

Deng Jiaren thought Zhang Yan was very greedy, asking for 40 square feet of land right away, "30 square feet at most."

"Okay! Then it's 30 square feet." Zhang Yan has been doing business for so long that he certainly knows the skills of bargaining in negotiations.

After Deng Jiaren left, Zhang Yan couldn't hold back and laughed, "We bought 70 square feet of land at 30 yuan per square foot. Haha, it's a good deal!"

In recent years, real estate developers have flocked into the New Territories. Their goal is to reserve land in the New Territories, but they are still vigorously developing the urban area and its surrounding areas, because everyone can see that the urban area is overcrowded and they will definitely transfer population pressure to the New Territories.

After all the land in the city and its surrounding areas has been consumed, the New Territories will see large-scale development. Naturally, those cheap plots of land will become hot commodities, and even those with money may not be able to buy them.

"86 square feet of land costs 6000 million, which is indeed a good deal." Li Wendi nodded. However, if it were any other real estate developer, they would definitely continue to lower the price, because the Deng family real estate company is short of money and has debt problems.

“These lands will still be held for several more years, but Luckin Coffee should not be short of the 2100 million,” Li Wendi said with a smile.

"Of course we have. Such a good thing, even if we have money, we have to get it."

The two looked at each other and laughed heartily in tacit understanding. In their eyes, Deng Jiaren was a fish on the chopping board.

Deng Jiaren has been immersed in the real estate industry for many years and is of course very familiar with things that go with the flow.

In order to restore investors' confidence in Dengji Real Estate Company, Deng Jiaren held a signing ceremony for the land sale. At the same time, he said a lot of ambiguous words to reporters, leading the outside world to speculate that Dengji Real Estate Company had other cooperation with Changxin Group and Luckin Coffee.

With the support of the two companies, the share price of Dengji Real Estate Company began to soar, and its market value increased by 5800 million yuan in just one day. Although it is still a long way from its peak, there is finally a glimmer of hope for recovery.

Gao Yi walked into the Changxin Group office quickly with documents in hand. "Boss, the Fu Laorong family is planning to sell the Furama Hotel in Central. This hotel covers an area of ​​2.5 square feet and has a market value of 2-3 million. It has a very advantageous location at 1 Connaught Road Central, just one building away from the Global Building."

The Furama Hotel opened in 1973 and was very prominent at the time. The hotel had the first revolving restaurant in Hong Kong on the top floor, which attracted many celebrities to dine there.

The owner of this hotel is the Fu Laorong family, the second generation of Macau's D king. In fact, this piece of land is composed of two pieces of land. One piece was bought by the Fu family at an auction for 52 million yuan in 360, and the other piece was the headquarters of the old Jardine Matheson and was bought by the Fu family in 54.

This piece of land cannot be underestimated. In the 80s, a piece of land with an area of ​​2.26 square feet near the Furama Hotel was purchased by Hang Seng Bank at a sky-high price of 8.4 million yuan and built into the headquarters of the former Hang Seng Bank.

That is to say, in another five years, this piece of land will be worth at least 5 million yuan, and next year the entire hotel may be directly worth 9 million yuan, so it is the most profitable to acquire it now.

The Fu Laorong family is managed by his son Fu Yinzhao, who holds 75% of the shares of Furama Hotel. It is impossible to acquire it from the market. If anyone wants to gain control of Furama Hotel, they can only purchase it from the Fu Laorong family.

"Golden Pavilion Hotel probably doesn't have the funds. Do you want to take it out through a loan?" Li Wendi took the document, read it carefully, and asked Gao Yi.

Gao Yi nodded and said, "I plan to raise 3% of the down payment first, and I can choose to borrow the remaining 7% from the bank. Then, while the market is booming, I can let the Golden Court Hotel raise funds for a rights issue to repay the debt."

Li Wendi doesn't think such a good piece of land is suitable for building a hotel. If he demolishes it and rebuilds a Grade A shopping mall, he can make a lot of money, but he doesn't know when he can make a profit from the hotel.

However, it is not cost-effective to demolish and rebuild the Furama Hotel at this time. Instead, it can be handed over to the Golden Pavilion Hotel for management first, and it will not be too late to rebuild it after the real estate market crash in 82.

"This piece of land is not very suitable for a hotel, but more suitable for rebuilding a commercial building." Li Wendi mentioned it briefly, "Since you have made up your mind, then go and talk to the Fu Laorong family. You can make the decision within 4.5 million yuan."

Gao Yi thought for a moment and said, "Boss, you positioned the Golden Court Hotel as a luxury hotel brand. If there is no Central Hotel to support it, it seems a bit shabby."

Li Wendi smiled and said, "There are many plots of land in Central that can be used to build hotels. What do you think of the Victoria Barracks in Admiralty? Or how about exchanging the Tsim Sha Tsui Hotel and Golden Court Hotel that I own for the Furama Hotel?"

"The Tsim Sha Tsui hotel you own is in line with the development plan of the Golden Court Hotel." Gao Yi automatically ignored the Admiralty Victoria Barracks because it was the navy's territory and there was no news of its sale for the time being.

"There is another problem now. The negotiations with Fu Laorong's family may require you, the boss, to come in person. The other party may not give face to us senior executives." Gao Yi said.

The Fu Laorong family was a family that made money through illegal means during the Republic of China period. They had done everything. In the era of developed economy, these people have become very low-key, but they still want to maintain the glory of the family, so they care about negotiations on the basis of equal status.

"Okay! You make an appointment with them and I will talk to them in person." Li Wendi nodded. If he could get this piece of land, it would not be a disadvantage to go there in person.

"Yes! I will contact the Furama Hotel immediately." Gao Yi said.

Li Wendi looked at Gao Yi's leaving back and became thoughtful.

(End of this chapter)