Started from Hong Kong Island

Chapter 403 401 [I just want you to spend more money]

Landmark Company Taipan Office

Niu Bijian hung up the phone heavily and sat down weakly on the leather chair. Bao Fuda, who was sitting opposite him, also heard the report results from the phone and his face was so gloomy that it seemed as if water could drip.

"Our title as landlord in Central is no longer secure. This piece of land can at least increase the rental area for the Cheung Kong Group by 150 million square feet. Together with the rental area of ​​other commercial buildings we own, the total area has reached 320 million square feet." Newby has lost a lot of his energy and spirit, and his previous confidence and pride.

Bao Fuda said in a deep voice, "Our rental area in Central is over 400 million square feet. The Cheung Hsin Group cannot catch up for now. However, the commercial building at 8 Cotton Tree Drive jointly developed by the Cheung Hsin Group and Hang Lung Company probably has a rental area of ​​nearly 30 square feet, which is almost the same as ours when added together."

"Next, we need to consolidate the company's strength in Central. I suggest that we purchase small, old commercial buildings in Central and implement the plan of demolishing and rebuilding them ahead of schedule. The funds we raise can be used for this project."

Niubijian perked up a little and sighed, "This is the only way now. I heard that the transaction between Jianing Company and Baishunning Group for the Golden Gate Building has not been completed. Can we take back this building and increase our strength in Central?"

Unexpectedly, Bao Fuda shook his head and said, "I'm afraid this is not very realistic. If we acquire the Golden Gate Building, regardless of how the outside world comments on the Land Company, the price involved will probably not be less than 20 billion yuan. We almost spent twice the price, which is not in the interests of the company."

Niubijian nodded and said, "Then let's give up the Golden Gate Building. We will focus our main efforts on the old buildings in the Ice House Street area."

Bao Fuda thought for a moment and said, "Perhaps we can consider the Xiangjiang Club Building. The Hong Kong government has already agreed to demolish and rebuild the building. We can take the initiative."

The Hong Kong Club Building is located near Statue Square and is a rare Victorian-style building in Central. It was coveted by many real estate developers in the late 70s, but unfortunately many members opposed it and the project had to be shelved.

Although the land area is not large, there is no problem in building a commercial building with a floor area of ​​more than 20 square feet, which can allow the land company to increase the rental area of ​​the commercial building.

"Well! This is a good plan. The demolition and reconstruction plan of the Holland Bank Building and the Mercantile Bank Building on Ice House Street can be advanced since we have sufficient funds." Newby said.

"Okay! Mr. Newbijian! I will make the arrangements immediately. It is estimated that the new commercial building will have a floor area of ​​more than 40 square feet." Bao Fuda is familiar with these major projects. After all, this is the guarantee for him to continue to hold his position.

The big move of the Swire Group was hard to conceal, and it reached Li Wendi's ears early on.

"It seems that the real estate company is in a hurry and is even preparing to take out these hidden treasures." Li Wendi said with a laugh.

"Should we stop them or create some difficulties for them?" Zhang Wentao asked.

Li Wendi glanced at his subordinates and said, "Within the next six months, you must plan to make the Land Development Company spend more money on real estate, even if it costs a penny more."

After these words were spoken, Zhang Wentao, Zhao Lekai, Gao Yi and Bai Hui all looked at each other, unable to understand Li Wendi's purpose at all.

Li Wendi explained, "If we launch a takeover bid when Hong Kong Land is in the most difficult period, what do you think will happen? Will Newby and Bao Fuda be desperate?"

"I'm afraid neither HSBC nor the Hong Kong government will let us do as we wish?" Zhao Lekai questioned.

"It doesn't matter if it doesn't go as planned. What matters is that Hong Kong Land will accept the challenge. Hong Kong Land will be afraid. Hong Kong Land will eventually negotiate with us. We will offer favorable conditions to us." Li Wendi said jokingly. "Does the boss want to take over some important assets of Hong Kong Land or the company?" Gao Yi grasped the key point of Li Wendi's words.

“All the properties in Causeway Bay!” Li Wendi said with a smile.

"."Everyone felt that the boss' tone was a bit too arrogant.

In addition to the commercial buildings in Central and the high-end residential buildings and land in the Mid-Levels, the Causeway Bay property is the most important asset of the Hong Kong property company and it will not be easily given up.

"Of course, the Hong Kong Land Development Company is unwilling to take over such an important property, but we can make it so that they don't have to make the final decision." Li Wendi continued, "What we need to do now is to raise funds, control the company's debt, and make all preparations for launching a takeover battle."

"Yes!" The boss has given the order, and they can only execute it and plug the loopholes at the same time.

Gao Yi then intercepted the project of the Hong Kong Land Development Company to acquire the old buildings on Ice House Street, intending to increase the purchase price of the old buildings and make the Hong Kong Land Development Company spend more money.

On the Wei Kee Building project on Chung Hwa Ice House Street alone, Gao Yi made the Hong Kong property company spend an extra HK$940 million.

At the same time, Zhang Wentao spread the news that the Hong Kong Land Development wanted to increase its holdings in Central properties and planned to use the bidding funds for the bus terminal land to acquire Central properties. The owners of Central properties were ecstatic, as if they had met a rich fool. They raised the selling prices of Central buildings and properties and waited for the Hong Kong Land Development to come knocking.

Bao Fuda was naturally furious, but there was nothing he could do about it and he could only buy these properties at a high price.

Li Wendi had no intention of seizing the crown of Central landlord from the Hong Kong Land Development, but he was very happy to do something for the Hong Kong Land Development.

In fact, Cheung Kong Group is not having an easy time either. After all, it spent HK$22.5 billion on the Central Bus Terminal project (holding half of the equity), plus the subsequent construction costs, each building will cost HK$11 billion.

Even if the 11 billion yuan does not need to be taken out all at once, the 30 billion yuan raised can be said to be gone. Moreover, the current residential building market is not very good, and it is much worse than the market in 81. The speed at which Changxin Group recovers funds is much slower.

Fortunately, there are a large number of commercial buildings and high-end residential buildings for rent, which generate good rental returns every month to support the group's huge expenses. Otherwise, it would be difficult for Li Wendi to command the battle with the Jardine Matheson Group.

While the battle between Cheung Kong Holdings and Hong Kong Land Development was in full swing, other Chinese companies were actively expanding their territory and scale, but some were expanding almost crazily while others were developing steadily.

Some economic experts commented in newspapers that Changxin Group's behavior was harmful to others and not beneficial to itself. In this era, we should develop together instead of targeting each other and missing out on the golden period of development.

Of course, this is a malicious attack on the Changxin Group. Some people refute it, while others agree with it.

Li Wendi didn't care. Changxin Group had grown to its current size and no longer needed to engage in verbal battles with certain small players. Other supporters would have their own opinions on the situation of Changxin Group and the group didn't need to explain anything.

(End of this chapter)