Started from Hong Kong Island

Chapter 428 426 [Golden Bell Second Stage]

In the end, Li Wendi bought the land near the old Lei Yue Mun military camp in the Eastern District of Hong Kong Island for 2300 million yuan.

The 17th lot is a 3.5 square foot plot of land on Qizimei Jiankang Middle Street in the East Corridor, with a starting price of $1800 million. The land has been tidied up by the original company, and the construction company can move in directly.

This piece of land can be used to build a residential building with a floor area of ​​45 square feet, with a volume ratio of up to 13, which has attracted the attention of many real estate developers.

The geographical location of this piece of land made Li Wendi excited. It is between North Point and Quarry Bay. Although it is not close to the sea, it is very convenient for going to North Point, Quarry Bay, Kowloon Bay and Yau Tong, and is the choice of many ordinary citizens.

Zhang Yan held up the sign, "1900 million!"

Luckin Coffee Property Co., Ltd. failed to acquire the Regal Hotel, so it naturally has a lot of money in its account. It is determined to win some items in this auction, including the land on Jiankang Middle Street.

"1920 million!" When a real estate developer saw that the person who was bidding the price was Zhang Yan, he immediately followed suit, of course wanting to get such a cheap piece of land.

Li Wendi smiled slightly, and Zhang Yan next to him raised the sign again, "1950 million!"

It's easy to get carried away with bidding at an auction. Even for experienced real estate developers, it's common to end up spending millions more once they lose control.

Zhang Yan continued to work hard and acquired 5 or 6 properties, spending to million yuan.

According to Li Wendi's budget, if these items had been sold at their peak in 82, the profit would have been no less than 6%. However, after the recovery of the local market, it would be easy to break through the original peak prices, so Zhang Yan's profit is likely to be close to double.

The auction of the Golden Gate Building was placed last, as the most precious treasure in the entire auction.

The first floors to be auctioned were the 35th to 37th floors of the Golden Gate Building, with a starting price of 4800 million yuan, or 1600 million yuan per floor.

This auction price is already very reasonable. You should know that at the peak of the Golden Gate Building speculation, each office floor was worth 4500 million yuan. Although this price is a bit inflated, it is true that in the 80s, each floor cost 2700 million yuan.

Therefore, if and when the real local market recovers, it will be easy for each floor to make millions.

Many real estate developers are eager to try it out. This is a property that is free to make money, and the eyes of the people present are glowing green.

"5000 million!" A real estate developer stood up and bid.

Zhang Yan looked at Li Wendi without any action and asked, "Aren't you very interested in the Golden Gate Building?"

Li Wendi smiled and said, "I am only interested in the entire Golden Gate Building. This kind of stratification is very troublesome. If it is hyped, it can be done."

"It's too difficult to acquire the entire Golden Gate Building, and there are too many properties in Admiralty owned by the Changxin Group. Let's give the Golden Gate Building to them."

Zhang Yan looked at Li Wendi's inquiring eyes and said with a wry smile, "I am interested in the Golden Gate Building, but it is too expensive. Luckin Real Estate's funds are all used to buy the previous properties, and other companies under its umbrella have to continue to acquire high-quality and cheap properties. There is really no money to purchase the Golden Gate Building."

"The starting price is 4800 million yuan! I estimate that the top three floors will cost at least 6000 million yuan, an average of 2000 million yuan per floor." Li Wendi said with a smile.

"Yes! It's too expensive!" Zhang Yan said with drooling eyes that the price was high.

“The prices of commercial buildings in Central will soar very quickly. You might as well start buying properties in places like Wan Chai and Causeway Bay. The price increase should not be any worse than that of small commercial buildings in Central,” suggested Li Wendi.

"Yes! I know! Luckin Real Estate has acquired a lot of properties in Wan Chai and a lot of shops in Causeway Bay." Zhang Yan nodded. During the conversation, Bank of America bought the six-story Golden Gate Building and the right to rename the Golden Gate Building.

This bankruptcy auction indicates that the recovery of the real estate market has begun to show results. Many real estate developers have found the confidence to continue investing in Hong Kong.

Changxin Group Office

Zhang Wentao was reporting on his work. "Boss, the Hong Kong government plans to hold a government land auction on November 11 to re-launch the property development rights project above the Admiralty Section 13 MTR station. Should we make a foolproof plan?"

Li Wendi laughed and said, "There is no such thing as a perfect plan! But our Changxin Group must obtain the second section of the Admiralty land, otherwise the outside world will laugh at us."

"But we don't have much money left. Should we apply for a loan from the bank?" Zhang Wentao was prepared to spend 10 billion yuan in auction fees for the second section of the Admiralty land.

"Let's borrow 10 billion yuan from the bank first. I think those banks will lend it based on the good operating performance of Changxin Group." Li Wendi said with a restrained smile.

"Yes! Then which properties should we use as collateral?" Zhang Wentao asked.

The amount is too large, and the cities have just begun to recover. There is no collateral, so the banks will set up many difficulties. After all, this big drop has scared many banks.

"The commercial buildings in Admiralty," Li Wendi said calmly. "Once the city recovers its glory days of 81 and 82, the group will sell a large number of its ordinary residential buildings, and the funds raised will be used to directly repay the loan mentioned earlier."

"Yes! I've made a note of it." Zhang Wentao wrote down this resolution in his notebook.

"The Hong Kong government stopped issuing rights certificates in 83. How many rights certificates do we need to redeem now?" Li Wendi suddenly thought of this.

"It can probably be exchanged for 560 million square feet of land in the New Territories," Zhang Wentao replied.

"There is no need to wait any longer for these certificates of rights. The Hong Kong government will now increase the area of ​​land that can be exchanged to 50 square feet per month. You must hurry up and exchange them no matter where the land is," Li Wendi ordered.

Zhang Wentao asked in confusion, "Boss, did something happen?"

Li Wendi said, "I am worried that the Hong Kong government will have a hard time honoring these rights certificates, so I want to cash them out as soon as possible. The location of the land will get worse and worse. If I redeem them early, I may be able to get some land that is not so bad."

"I understand!" Zhang Wentao nodded.

Xie Liyuan Gold Shop has been in operation for more than a year, and Li Wendi did not change the name, but Junfu Jewelry Company has been expanding with the help of Xie Liyuan Gold Shop's power.

According to Li Wendi's plan, after Junfu Jewelry becomes popular among the people, Xie Liyuan Gold Shop can be truly incorporated into Junfu Jewelry Company, rather than existing independently.

Today, Xie Liyuan Gold Shop has paid off a lot of debts. Except for the loan from Hang Lung Bank, the remaining debt is only 6700 million yuan. According to the plan, it will be paid off before 85.

Today, the Junfu Jewelry Company, which has acquired Xie Liyuan's gold shop, is close in size to the Jingfu Jewelry Company owned by the Yang Zhiyun family, and is the fourth largest jewelry company in Hong Kong.

He Qijun, who was standing by, checked the accounts of Xie Liyuan Gold Shop and said, "Xie Liyuan Gold Shop is indeed a time-honored brand in Hong Kong's jewelry industry. It can be revived so quickly."

Li Wendi smiled and said, "I was attracted by Xie Liyuan's reputation and scale in Hong Kong."

(End of this chapter)