Started from Hong Kong Island

Chapter 427 425 [Bank Joint Auction]

Even with Li Wendi's advice, Zhang Yan could not defeat the blood connection between the Luo family father and son.

Luo Yingshi had four sons. At first, the third son, Luo Xurui, helped manage the family business. The other three sons were not very interested in the family business.

However, Luo Xurui was a man with strong opinions. He began to disagree with Luo Yingshi in 80. It was not until 83 that Luo Xurui officially left the Luo family. Luo Xurui believed that he could create a career with his own abilities.

When Luo Xurui left the family, he did not take away a penny of the family's assets. He only took away the part he earned from working for the family.

At this time, Luo Yingshi had already recalled his fourth son Luo Jiarui, who was practicing medicine in the United States. However, the situation of the Regal Hotel was already very bad. If he continued to be reluctant to let it go, it would affect the Eagle Properties Company.

Although Zhang Yan's offer was much higher than that of Asia Securities, once Luo Xurui came forward, Luo Yingshi could only sigh and sell the Regal Hotel to Asia Securities at a low price to fulfill the wish of his son who "ran away from home".

Wells's Asian Securities Company suddenly controlled two listed companies, but Luo Xurui was appointed as the director and general manager of the Regal Hotel, responsible for specific management affairs.

Zhang Yan could only sigh and say it was a pity.

In fact, the hotel in Tsim Sha Tsui East and the hotel at the airport are priceless, and even Li Wendi is somewhat tempted by them, but he is too embarrassed to buy them. He also knows that Luo Yingshi will never let the money go to other people, so it is better not to do it to avoid embarrassment.

After the completion of the acquisition of Hong Kong Land Development, within one month, Wharf Holdings acquired five Grade A commercial buildings from Hong Kong Land Development, including the Duke of Windsor House in Causeway Bay, the Excelsior Hotel, and the World Trade Center.

Originally, United Company was going to take over the Red Hill Peninsula in Pak Pik Shan that was jointly developed by Hong Kong Land Development and Sino Land. This piece of land was close to Tai Tam Bay and was in a very advantageous location where 400 villas could be built. However, Hong Kong Land Development refused to be acquired at all costs, so it sold the Windsor House in Wan Chai to Wharf Holdings and then gave some properties in the Mid-Levels to the three tycoons, which discouraged United Company from the idea of ​​acquisition.

As a result, Wharf Holdings has more than 200 million square feet of rental area in Causeway Bay, and also has a Grade A commercial building in Wan Chai with a floor area of ​​up to 50 square feet.

Although the property area of ​​Wharf Holdings in Causeway Bay cannot exceed the 350 million square feet of Hysan Development, relying on the size of Wharf Holdings, it will sooner or later get the title of "landlord" of Causeway Bay.

After Jardine Matheson acquired the shares of Hutchison Whampoa held by United, a careful calculation showed that Wharf Holdings spent 5 million yuan to acquire a large number of properties in Causeway Bay and Wan Chai.

１７ Mar ２００４.

With the signing of the 'Joint Statement', the Hong Kong negotiations have finally come to an end.

When this news reached Hong Kong, most Chinese people were delighted. Although they still had to wait for 13 years, they could already see the light of return, which was exciting.

At this time, some pro-British newspapers began to remain silent, while most Chinese newspapers began to actively report on the matter and published some important information.

The bad situation in cities and counties has begun to improve. In fact, in May, there has been a relatively obvious improvement in cities and counties. However, some people are selling their properties, so the property prices in some areas have not improved much.

Seeing this, some creditor banks quickly organized auctions, hoping to get rid of their accumulated properties and other assets as soon as possible. After all, the banks had suffered huge losses during the crash and were struggling to hold on. They could no longer wait until the local market truly recovered.

The auction was held at the Peninsula Hotel in Tsim Sha Tsui.

Many real estate developers participated because the former Golden Gate Building was being launched this time. Although it was a layered auction, many people hoped to bid for such a high-quality property.

Li Wendi and Zhang Yan attended the auction together, attracting many reporters to take photos and watch. Because Li Wendi has always been very friendly to reporters, the reporters hope to interview this top tycoon in Hong Kong. "Mr. Li, you are attending the auction this time. Do you think that the downturn in the real estate market will soon pass and usher in a big recovery?" A male reporter squeezed into the crowd and held the microphone in front of Li Wendi.

"Of course! This is a done deal." Li Wendi added, "The situation in Hong Kong is slowly stabilizing, and future development will be even more unstoppable. Citizens who have not yet sold their properties should be cautious."

"Mr. Li, are you here today for the Golden Gate Tower?" asked the female reporter.

Li Wendi smiled and said, "You can say yes, but you can also say no. The price is cheap, so of course I hope to get it. If it's unexpected, I won't bid any more."

"Does Mr. Li think that the office building in the Golden Gate Building is not of good quality? Or is it that there is a problem with the funds of his company and it is not appropriate to bid for such an expensive property?"

Li Wendi smiled. The words of this group of reporters were still as vicious as before, and they dared to ask anything.

"This time I am only representing the family company. As for whether the subsidiaries will participate, that is the decision of the company's top management. You can look for them." Li Wendi said.

"Okay, the auction is about to start. I'll go in first. Bye!" Li Wendi turned and walked into the Peninsula Hotel.

"These reporters are really difficult to deal with. They speak harshly and you are the only one who can treat them well." Zhang Yan doesn't have much good impression of reporters.

Li Wendi laughed and said, "Reporters are the 'uncrowned kings'. If they write nonsense, the company's stock price may plummet. Try to make friends with them to avoid trouble in the future."

"Don't you have a newspaper under your command? Why should you be afraid of them?" Zhang Yan said.

Li Wendi smiled but said nothing, while Zhang Yan kept chattering.

Many Chinese real estate companies sent their senior executives to participate, and it was clear that they were not very optimistic about this auction.

The auction will begin soon.

The items launched at the opening were all not-so-good things, such as a small residential plot in Yuen Long and an industrial plot next to To Kwa Wan.

These lands and properties are useless and need some time to be developed. Otherwise, you won’t make much money by developing them now, and you may even end up losing money.

Until the 16th lot, a residential plot of land next to the old Lei Yue Mun Barracks in the Eastern District of Hong Kong Island, with an area of ​​6.1 square feet, the starting price was HK$1900 million, or HK$311 per square foot.

The price was quite cheap. Although the area around the old Lei Yue Mun military camp had not yet been developed at that time, we could stockpile it and wait for the right opportunity.

"2000 million!" Li Wendi raised the number 38 sign and shouted the price.

Many real estate developers turned to look at Li Wendi, and those who originally wanted to raise their signs silently put them down. They did not want to offend Li Wendi because of such a piece of land.

Of course, there are also people who want to use Li Wendi's fame to hype themselves up, but these people also pretend not to know Li Wendi when bidding.

(End of this chapter)