Hong Kong: Starting with 10 billion

Chapter 452 Giving Too Much

(Please check later, thank you!)
･･････････
･･････････
Hutchison International held two major land kings, Whampoa Dockyard and Kwan Yik Warehouse, and naturally became the largest landlord in Hong Kong.

As a shrewd real estate businessman, Li Ka-shing saw this and decided to "swallow an elephant" by bringing Hutchison Whampoa under his control.

As for other non-real estate businesses, he has no idea about them and is just trying to catch rabbits while hunting by the haystacks.

If it weren't for Hutchison International's reckless overseas investments and its bloated business,

As a result, Hutchison Whampoa has almost no funds to develop the large amount of land it owns in Hong Kong, and its market value would not be just HK$3.4 million.

In September 1979, HSBC sold 9 million Hong Kong dollars to Li Ka-shing at 7.1 Hong Kong dollars.

The bank valued Hutchison Whampoa at only HK$28.53 billion.

In the eyes of those who care, these foreign managers of Hutchison Whampoa are all idiots, the typical example of begging with a golden bowl in hand.

Just the large amount of land in the two most core and prosperous areas of Kowloon Peninsula and Hong Kong Island,
If developed seriously, even at the end of 1974, it would have a potential value of tens of billions of Hong Kong dollars.

Fang Hexuan and Li Ka-shing will definitely be able to take over this giant listed group.

But after taking it, Fang Hexuan thought carefully for a long time about how to divide it.

Hutchison’s current businesses cover import and export trade, wholesale and retail, commerce, container shipping, shipyards, warehouses, transportation, real estate, mining, construction and investment.

In his opinion, most of these businesses belong to traditional industries and he is not very interested in them.

Therefore, he will probably ask for Watsons (including ParknShop supermarket), car sales business (not only in Hong Kong, but also overseas), Kwai Chung Container Terminal (to facilitate the import and export of its industries), some real estate and a large amount of land.

As for the rest, Li Ka-shing can give it to him if he wants it, but of course he has to pay the difference for the cucumbers.

There is no doubt that the real estate and land will be handed over to Wanda for operation and development.

Since Wanda sold the Golden Gate Tower in January this year, it seems to have suddenly returned to the status of a shell company.

However, the boss did not give employees too many opportunities to slack off.

In March, Fang Hexuan mobilized the entire company to implement a new acquisition plan - to acquire the listed company Datong.

This is a food and beverage company that mainly produces condiments, fruit juice soda, etc. It also has its own paper product manufacturing and packaging factory.

Since its establishment in Hong Kong in 1928, it purchased a large amount of land in Kowloon to build factories.
Therefore, Taohua Datong is more of a real estate company with potential than a food and beverage company.

This is also the main reason why many consortiums want to acquire it.

Two years ago, Hang Lung Properties purchased approximately 2 square feet of land in the "Taoda Industrial Village" in Ngau Tau Kok from Taohua Tai Tung for HK$22.26 million, planning to build Taoda Gardens.

If Fang Hexuan does not take action, Hang Lung Properties will officially acquire 8% of its shares in August this year and become a subsidiary of Hang Lung.

On April 4, his good tool, Vice President Li Jianlong, announced that Wanda Real Estate acquired 6% of the shares of Taohua Datong for HK$9.5, completely controlling the listed company.

Of course, Hang Lung Properties was unwilling to give in. After learning of Wanda’s intention, it also made a bidding.

Li Jianlong directly stated that Wanda will definitely take over Taohua Datong, and some companies should not overestimate their capabilities.

The meaning of these words is actually conveyed on behalf of Fang Hexuan, and smart people will naturally understand it.

Hang Lung Properties has more industry experience and qualifications than Wanda, but the boss behind it is indeed far inferior to Mr. Fang, the richest man.

When Hang Lung first acquired Taoda Industrial Village in 78, it was thinking of further acquiring Taoda.
But no one expected that a Monkey King would pop out from somewhere and turn the real estate industry in Hong Kong upside down.

After Wanda acquired Taoda, it split it into two, establishing Taoda Food and Taoda Property. Taoda Food is self-evident, while Taoda Property will develop the remaining land in Ngau Tau Kok, Kowloon into residential properties.

Wanda Real Estate has been quiet since it became famous for buying the Golden Gate Building from Jardine Matheson two years ago.

This makes some real estate observers confused about its ideas and routines.

The Golden Gate Building was sold in January 1980, and it once again came into people's attention.
But selling the only landmark asset in his hands feels like quitting the game no matter how you look at it.

Unexpectedly, three months later, Wanda made another big news - the acquisition of the listed company Taohua Datong.

But Wanda brings much more surprises to people than that.

With the rapid rise of the land market and the property market, there has even been an obvious phenomenon of speculation in real estate.

The Hong Kong government knows that it is a good time to sell the land it holds at a high price.

On July 7, the Hong Kong government held the first land auction conference of the year.

As the heat of the local market is expected to be far from reaching its peak, the Hong Kong government carefully planned this trial auction.

In other words, a piece of land with some weight will be put up for grabs, but it will not be land of the king-level.

Sure enough, the news announced was a small plot of land with an area of ​​34595 square feet on Harcourt Road in Central.

Later, the famous building in Central, the Far East Financial Center, was built on this land.

Opposite it is the PLA Hong Kong Garrison Building.

The real estate company also knows the Hong Kong government’s intentions, so of course it has to give face and participate in this auction.

Well-known real estate developers such as Cheung Kong Holdings, Henderson Land Development, Sun Hung Kai Properties, New World Development, Hang Lung Properties, Swire Properties, Hong Kong Land, and Sino Properties,
They all expressed their desire to participate in this event.

Wanda certainly would not miss this opportunity, although it is a small player in the Hong Kong real estate industry.

But with the support of a super-rich boss, he is determined to get this piece of land.

The auction venue was held in a huge banquet hall at the Mandarin Oriental Hotel in Central.

Several real estate developers have already arrived at the scene and are now gathering in groups of three or four to exchange industry experiences.

With less than 10 minutes left before the auction began, reporters were seizing the opportunity to take photos and conduct interviews.

Suddenly, there was a noisy sound of people shouting outside the hall, and then the doors of the banquet room were seen being opened from both sides.

The bosses of several companies just looked at a tall young man with a slicked-back hairdo and a well-tailored dark blue suit who slowly walked in.

He smiled and nodded to the crowd who greeted him, showing the aura of a big boss.

There were a dozen company subordinates and bodyguards following him, and behind him were the reporters who had just been waiting outside, who also followed the crowd and squeezed in.

While squeezing, they also shouted that they hoped the richest man would accept an interview.

That’s right, this person who likes to show off is Fang Hexuan, the youngest richest man in Hong Kong.

It was Wanda’s first time to attend an auction, so of course he couldn’t be absent.

When the reporters in the hall saw the newcomer, they excitedly dropped the people they were interviewing and swarmed towards Fang Hexuan.

(End of this chapter)