Hong Kong Island's New Rich Era

Chapter 91 Tsim Sha Tsui (Part )

The Cheung Kong Company is now considered an old real estate company in Hong Kong. It has been involved in the development of industrial buildings since the 60s, while the Whampoa Group has only entered the real estate development field in the past two years.

"Experience can be accumulated. Considering the land reserves of Huangpu Group, this is nothing," said Li Chaoren.

"I'll visit Mr. Li some other day and learn from his real estate development experience." Liu Zhicheng said with a smile.

The two chatted for a while, and Li Chaoren took the initiative to leave. At this time, Lu Zhihe said: "Mr. Liu, there are many Chinese entrepreneurs from Hong Kong here today. How about I introduce them to you?"

"Okay, thank you for your hard work, Mr. Lu." Liu Zhicheng nodded.

In fact, today's real estate auction is not only a land auction, but also an exchange meeting for the city's wealthy. Liu Zhicheng has already seen many familiar faces.

All businessmen in Hong Kong who are somewhat famous have been in the newspapers. Even if they don’t know each other, they know what each other looks like, but it’s not easy to approach them directly.

With Lu Zhihe's introduction, Liu Zhicheng soon got to know almost all the famous Chinese real estate developers in Hong Kong.
Such as Uncle Tung of New World Group, Lee Shau-kee of Henderson Land Development, Kwok Tak-seng of Sun Hung Kai Properties, Chan Tseng-hei of Hang Lung Group, Wong Yin-fong of Sino Properties, Lo Ying-shek of Great Eagle Properties, Wong Tak-fai of Wah Han Group, Chan Ting-wah of Nan Fung Holdings, and so on.

These people are all future super real estate tycoons in Hong Kong. Before the 70s, they had accumulated a large amount of assets, seized several real estate booms in Hong Kong, and each of them became a billionaire.

It gradually transformed itself from real estate, entered various industries in Hong Kong, and formed a monopoly. By the 1990s, it had basically cut off the opportunities for latecomers to cross classes.

In particular, Huang Yanfang of Sino Group, who represented Singapore's Far East Organization in entering Hong Kong, will go on a killing spree in future Hong Kong land auctions, frequently acquiring land at high prices, and can be regarded as a fierce dragon crossing the river.

In addition to Chinese capital, there are also many British capitals in Hong Kong. They have their own circles. The most prominent ones today are naturally Mr. Benigno Piguet of Jardine Matheson, the head of the four major trading companies, and John Smith of the Swire Group.

Now they were surrounded by a lot of foreigners. When John Shi saw Liu Zhicheng, he walked over and greeted him.

The two of them are considered a model of current cooperation between Chinese and British capital, and are considered an alternative in Hong Kong today.

"Mr. Liu, I didn't expect to meet you here." John Shi said with a smile as he approached.

"The land in Tsim Sha Tsui East is of such high quality, who wouldn't be interested?" Liu Zhicheng said with a smile.

"Yes, Mr. Liu is already a real estate tycoon in Hong Kong. He will definitely not miss the feast of the land auction in Tsim Sha Tsui East." said John Shi.

"I already have a project as big as Huangpu City. I just came here to join in the fun today."

"Me too." John Shi smiled.

"Let's play ball together when we have time." Liu Zhicheng also said with a smile.

"Okay." John Shi said lightly.

There are real estate auctions in Hong Kong basically every month, and everyone participates selectively, unlike today's land auction in Tsim Sha Tsui East, where everyone came in such a large crowd.

The auction of prime reclaimed land in Tsim Sha Tsui East is a competition between companies based on their strength. If conflicts arise because of this, there will be no normal business in Hong Kong.

So, the wealthy people in the hall were all in harmony and chatting. They did not close themselves off from each other just because they were competitors today. They just had different degrees of closeness and distance.

Soon the auction was about to begin, and the auctioneer who was presiding over the auction was very excited because he knew that today would definitely be a fierce battle.

The recent media hype about the Tsim Sha Tsui East site has been almost crazy, which foreshadows the popularity of today's auction.

Yesterday the newspaper was still saying that a certain real estate company was determined to win, and today it will definitely hype that a certain company is also sharpening its knives.

Citizens love to watch gossip, and the media also enjoys it, fearing that they will miss out on hot topics and lose readers.

"Welcome everyone to participate in today's 'Tsim Sha Tsui East Land King' auction. Let me first tell you about the auction rules..."

The auctioneer went through the routine work, read out the auction rules, and then announced the start of the auction.

Liu Zhicheng and Lu Zhihe sat together, Lu Zhihe represented Daya Real Estate and Liu Zhicheng represented Huangpu Group.

Daya Real Estate has a registered capital of HK$4 million. It is a newly established real estate company with Daya Mining holding 2%, Qingzhou Yingni holding 2%, Lu Zhihe holding 2% ​​and Shanfeng Investment holding %.

Lü Zhihe and Liu Zhicheng were planning to develop the old cement plant land of Qingzhou Yingni. Of course, Qingzhou Yingni’s shareholding was in the form of land.

"Mr. Lu, are you ready to show some generosity today?" Liu Zhicheng asked.

"Mr. Liu, you're worrying too much. It won't affect the important thing we agreed on." Lu Zhihe thought that Liu Zhicheng was worried about the subway bidding.

"I'm afraid Mr. Lu has misunderstood. What I meant is that you can boldly take a chance on the land today." Liu Zhicheng whispered in his ear.

Lu Zhihe smiled, glanced at Liu Zhicheng, and said, "Really?"

“The land in Tsim Sha Tsui East is of great quality. It would be great if we could get two.”

"Okay, if I really like the land, I will give Mr. Liu a gesture and watch my show." Lu Zhihe said jokingly.

It seems that Lui Chi-ho has long been optimistic about Tsim Sha Tsui East. Today, I am afraid that there will be a fierce tiger coming out of the mountain. In his previous life, he bought a piece of land and built a five-star hotel.

In the past decade, due to the unfavorable situation in South Asia for Chinese, some wealthy Chinese came to Hong Kong to invest and spread their risks. It was under such circumstances that the Far East Club of Singaporean tycoon Huang Tingfang and his son came to Hong Kong to establish Xinhe Real Estate.

According to Liu Zhicheng's memory from his previous life, Sun Hung Properties was interested in the land in Tsim Sha Tsui East, and they had raised at least HK$1 billion in funds.

Then, he repeatedly shouted out high prices at the auction of land in Tsim Sha Tsui East, which was like a big roar. It can be said that he intimidated local real estate developers in Hong Kong and indirectly pushed up housing prices in Hong Kong.

If this is the case, Liu Zhicheng will have to consider the actual situation. After all, Huangpu City is not far from here. What will be the impact if he calls out a higher price than in his previous life?

In fact, Liu Zhicheng didn't have to buy the land today, he just wanted to have fun with such a grand feast.

But they will definitely call out two prices to show the existence of the Whampoa Group.

Next, as Liu Zhicheng had expected, major real estate developers began to actively bid, and Xinhe Real Estate shouted out a high price right from the start, ready to scare off other real estate developers.

The first piece of land to be auctioned today is the former Wing On Center plot, and Sun Hung Properties has offered a price of HK$8000 million.

As expected, Lü Zhihe started to hold up his sign, instantly attracting everyone's attention. Likewise, it also attracted Liu Zhicheng's attention.

"8200 million Hong Kong dollars!"

The price increase was quite normal. Lui Chi-ho was not a high-profile Hong Kong businessman and did not expect to scare off his enemies by raising the price.

Time passed by again, and the auction was full of gunpowder. Lui Chih-ho's bid had reached 9000 million Hong Kong dollars.

On the other side, Huang Tingfang and his son looked a little heavy, but their bidding was not ambiguous at all.

"9500 million Hong Kong dollars." Huang Tingfang and his son showed their true colors.

At this time, Lu Zhihe glanced at Huang Tingfang, shook his head and spread his hands to show that he gave up.

Liu Zhicheng also glanced at Lu Zhihe, smiled at him, and said, "Mr. Lu is very courageous."

"I don't blame them for the roar of the water, but don't let them really think that there is no one in Hong Kong." Lu Zhihe said a little unconvinced.

In the end, the Huang father and son acquired the land of the previous Wing On Center. This seaside land was only 9.5 square feet and could be used to build a shopping center and office buildings. It cost a total of HK$9500 million, with a total unit price of HK$1000 per square foot.

Next, Lu Zhihe and the Huang father and son continued to fight fiercely, but in the end, the strong dragon was defeated by the local snake.

Lui Chih-ho, on behalf of Daya Real Estate, won two other seaside plots of land that day, with a total area of ​​23 square feet. The price was also huge, with the two plots costing a total of HK$2.1 million.

As for the other two plots of land inside, Lu Zhihe did not show any mercy and made Sun Hung Kai Properties pay a full HK$1.6 million before they were able to take them over.

The fierce battle between Lui Chi-wo and Huang Ting-fang pushed the price of the land in Tsim Sha Tsui East to a sky-high level, which was seriously out of line with the current value of real estate. Other real estate developers did not dare to bid at all.

In 1976, the Hong Kong government only raised 5 million Hong Kong dollars from land auctions throughout the year. Today, the price was at least 1 million Hong Kong dollars more than in the previous life, which shows the intensity of today's auction.

After the auction, the Chinese real estate tycoons who attended the event came forward to congratulate Lui Chih-ho.

Among them was Huang Yanfang and his son, who also stepped forward and said, "Mr. Lu is indeed the boss of the building materials industry in the city. It is not unfair that I lost today."

As the saying goes: Don't hit a smiling person. Lui Chih-Wo was very happy today. He smiled and said politely: "Tsim Sha Tsui East is a precious land. Doesn't Mr. Huang also think highly of it?"

Huang Tingfang smiled, and the two chatted briefly before parting.

Today, Lu Zhihe was very generous, but he used up half of the funds of the new company, and the end of his happiness was a sigh.

On the way back, Lu Zhihe insisted on riding in the same car with Liu Zhicheng, saying that they wanted to find a place to discuss official business.

Liu Zhicheng did not refuse. Putting aside the company's funds, they had to discuss the construction plan since they had auctioned two pieces of land today.

He ordered the convoy to drive directly to his office at Orange Technology.

As soon as he entered the office, Liu Zhicheng smiled and joked, "Mr. Lu is very famous in Hong Kong today. I'm afraid everyone in the city will know him tomorrow."

"Mr. Liu, we have a good time today, but aren't we planning to use this fund to bid for the development rights of properties above the subway?" Lu Zhihe shook his head and spread out his hands, making a helpless expression.

Liu Zhicheng smiled and said, "We'll talk about it when the money is gone, but now that we have two plots of land, we have to develop them. What do you think we should build on them, Mr. Lu?"

When Lu Zhihe heard that they were talking about serious matters, he immediately calmed down, thought for a while and said, "The land in Tsim Sha Tsui East is close to the sea and has beautiful scenery. I suggest building a hotel."

Liu Zhicheng nodded and said, "It is indeed suitable for building a hotel, but if both plots of land are used to build hotels, the financial pressure will be too great, which will be detrimental to the next development of Daya Real Estate."

After a brief pause, he continued, “I propose to build only one hotel and develop the other plot into a property for sale.”

Lu Zhihe nodded in agreement.

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(End of this chapter)