Hong Kong's new giants

Lin Zuhui said directly: "Is it Chang Shi's offer?"

Chen Bin didn't dare to hold back, and said directly: "Yes, their offer is only 1.28 million!"

Lin Zuhui was a little surprised, it seems that the major real estate developers are afraid to take the land!

"Winning the bid with such a low price this time will definitely affect the bidding for another piece of land!"

Chen Bin nodded and said: "The land on Canton Road can build 1100 residential units, covering an area of ​​11.1 square feet. In addition, it is in Kowloon, and major real estate developers will still bid seriously. Some surveyors estimated that, The land price per square foot can reach 4000 yuan, which is worth 40 billion Hong Kong dollars."

Lin Zuhui said: "Another 28% reduction, it will be [-] billion!"

Chen Bin said: "Maybe everyone thinks this way. This land is very important. How about we bid for 30.8 billion?"

It is impossible to be a classic every time, so don’t think about such a good thing. With a price tag of 30.8 billion, the total floor price per square foot is 3000 yuan, and the total floor cost per square foot is 5000 yuan.

The house started to be sold three years later. At that time, Xiangjiang Real Estate was still worth six or seven thousand.Of course, the major real estate developers will cover it up, and naturally sell it at a higher price.

"Okay, do as you say!"

Lin Zuhui finally accepted Chen Bin's opinion, because he was no longer good at bidding.And Chen Bin made a great contribution this time, which is just in full swing.

In fact, he doesn't participate in these small things now, but he happened to be in Xiangjiang, and Chen Bin came to chat with him, and it was a special period.

If the real estate market is normal, the land auctions are all done by Chen Bin and the others, and there is no need to ask Lin Zuhui for instructions on how much to bid.

In any case, the Hong Kong real estate market has sent a message: the property market, which has fallen by more than 3%, may fall by [-]%.

就相当于10000元每平方尺的物业（1997年上半年），如今跌至6000～7000元，马上又要跌至4000～5000元。

Miserable, really miserable!

Those investors who borrowed money to speculate in real estate have already started queuing up on the rooftop.It is said that during this period of time in South Korea, a large number of people lined up to jump off the Han River Bridge every day.

Chapter 617 [Prying up a good figure]

In late January, the Hong Kong government announced that New Times Group invested HK$1 billion in the former police dormitory site on Canton Road, and the real estate market became worse for a while.Because, the price of this piece of land is nearly 30.8% less than the surveyor's estimated price, which means that Xiangjiang Properties will fall by [-]%.

And such land, in the first half of 1997, was worth more than 6000 yuan per square foot (land price), but now it is only worth about 3000 yuan per square foot.

Obviously, it indicates that Xiangjiang properties will drop by as much as 50%, and the people who invest in properties are crying for a while.

Office of New Era Group.

Lin Zuhui is very satisfied with Chen Bin's recent performance, and has invested in two land plots in a row, increasing the land reserve of New Era Group.In addition to the Dapu land that was auctioned last year, the New Times Group has already "lost" nearly 90 billion Hong Kong dollars in land; it can be regarded as making up for the "loss" that the New Times Group had almost no harvest during the peak period from 1996 to 1997, and instead bought cheap land. goods.

"dong dong"

"Come in"

"Boss, Xu Sheng is here!"

"Um"

Li Ke took Xu Zhantang into Lin Zuhui's office.Lin Zuhui got up from his office and greeted him.

"Xu Sheng, sit down!"

"Lin Sheng, you're welcome!"

The two sat on the sofa, and Li Ke withdrew after serving tea.

After taking a sip of tea, Lin Zuhui didn't turn the corner, and said directly, "Xu Sheng, Zhonghua Bus wants to acquire Citybus. I don't know what you think?"

Xu Zhantang said inwardly, you have calculated that I will lose a lot of money in this financial crisis, so you plan to use Citybus.Who in Xiangjiang does not know that now all the companies under Lin Zuhui are "God of Wealth" with very rich cash flow.In other words, Lin Zuhui was keenly aware of the danger before the financial crisis, so he made such a layout.

"Lin Sheng already spoke, so I naturally had to agree."

"Haha, thank you for that. To be honest, I also intend to integrate the bus business on Hong Kong Island to better serve Hong Kong citizens and tourists. Especially the tourists' experience, which is beneficial to Hong Kong's tourism industry."

Lin Zuhui's demeanor of worrying about the country and the people left Xu Zhantang speechless. If it were someone else, he would despise him; People can't fault it.

From Lin Zuhui's point of view, he knows that Hong Kong's patent rights are a "money-making tool". Reorganizing the bus business on Hong Kong Island will not only make money, but also enhance his status in Hong Kong.Of course, in terms of services and hardware, it is natural to do a good job, so that people can't find many faults.

For example, the annual net profit of the bus business on Hong Kong Island is 3 million, while the new bus group may only make 2 million.

"Lin Sheng, I have a personal question. Will Xiangjiang's economy get worse?" Xu Zhantang couldn't help asking.

He has been worried recently that his two listed companies have high debts in investment properties, and if the situation worsens, they will be on the verge of bankruptcy.

The two can be regarded as friends. Back then, Lin Zuhui was 'interested in antiques for a while', so he consulted a lot with Xu Zhantang, and the two even exchanged antiques.

Lin Zuhui said honestly: "International speculators will come to Xiangjiang, and Xiangjiang's economy will deteriorate this year. This is my personal opinion."

Xu Zhantang's mood suddenly turned upside down, and he was a little lost!

Lin Zuhui persuaded: "Xu Sheng, there are always ups and downs in life, and it is better to face the future by actively coping. As far as I know, you have a lot of assets. Compared with most people, your situation is much better."

Xu Zhantang nodded seriously when he heard the words, and he was regarded as Lin Zuhui's "good teacher and helpful friend" when it comes to antique appreciation; but when it comes to business, Lin Zuhui beat him dozens of blocks.

"By the way, I don't know if Lin Sheng is still interested in antiques. I might want to sell some antiques."

Lin Zuhui said: "I don't care, I will take the price you ask!"

Xu Zhantang nodded and said, "Okay."

Originally, if you wanted to sell antiques, it would be easier to pay a high price if you chose auctions; however, the financial crisis in Asia will inevitably affect the auction of collections, and if they are sold in Europe and America, it is obvious that Chinese treasures will be left overseas.

Of course, the most important thing is that Xu Zhantang knows that Lin Zuhui is very "generous" in the price, so he is a good target for transferring the collection.

After Xu Zhantang left, Lin Zuhui showed a smile.

Both are good news. With his current net worth, antiques are actually 'worthless', but collections, properties, gold, etc. are channels for a super family to hide their wealth well.

As for the acquisition of Citybus, profits are secondary, and the important thing is that he has taken another small step towards monopolizing Xiangjiang.

In fact, at this time, Lin Zuhui's listed companies already accounted for 25% of Xiangjiang's total market capitalization, and it is expected that the proportion will increase this year, which may reach a terrifying level of 30%.

In addition to the cash flow of these companies, the more important concepts of 'technology' and 'culture' are coming.

New Times Group has the technology concept of 'Cyberport', and Wanhui Media is even more powerful. Now it is a technology company with world-class software ICQ under its umbrella. Its business covers more than a dozen countries, with a total of 2600 million users.

……

Monday, May 2.

Today is the first working day after the Lunar New Year. Lin Zuhui sent out "Ricci" at the headquarters of New Times Group. Both the staff and the management are happy to welcome the new year's work.

When other companies in Hong Kong closed down or got into trouble, even wages were a problem; but last year, the major groups under Lin Zuhui received the lowest "double pay", and more received "bonuses".

There are two modes of Xiangjiang’s year-end bonus, one is “double pay” (receiving two months’ salary in the last month), this is no surprise, of course, there are only a handful of companies that can receive “double pay” at the end of last year; The other is the floating year-end bonus "bonus", which almost always starts with "three grains".

Although he ordered the major groups to 'save costs' last year, it did not include employee benefits, so it should be no problem for Lin Zuhui to choose the 'Best Boss Award'.

"Boss, Gong Xi Fa Cai!" In the office building, the staff expressed their thanks and blessings to Lin Zuhui.

Lin Zuhui said with a smile: "We are happy together, I can get rich only because of you!"

Everyone was immediately in a high mood. My boss can talk, and it sounds so comfortable.Everyone is even thinking that this year, work hard to create more wealth for the company, so that the boss can also get rich, and he can get a promotion and salary increase.

After a lot of excitement, Lin Zuhui returned to the office and checked that it was already past nine o'clock.

Chen Xiaofen was the first to come to Lin Zuhui's office and report to him.

"Boss, let me report to you about the sales plan of this year's Xiangjiang residential project!"

"Um"

Although real estate has fallen sharply, it must be sold at a low price. This is called "the goods are in rotation".

Since November last year, major real estate developers have reduced their prices and sold them one after another, and conflicts between major agents in order to grab customers are not uncommon.

Even the major real estate developers are fighting fiercely. For example, Wheelock twice intercepted Hu Changshi, before the adjacent Cheung Kong site was sold, and reduced the price to compete with Changshi.

At the same time, major real estate developers have introduced various methods to match promotions. For example, Sun Hung Kai pioneered the "Interest Rate Guarantee Plan", that is, if the buyer's building mortgage interest rate exceeds the upper limit specified by the developer, the extra interest will be paid by the developer. Commitment; For example, Henderson proposed a '[-]% price drop compensation plan', that is, the market value of the property is lower than the purchase price at a specified time, and the buyer does not have to bear the difference, and can ask the developer for the difference to pay the repayment.

In short, various promotions have been introduced.

These measures are of course very effective, and are mainly a boon for "customers with just needs". The supply of Hong Kong residential properties is already in short supply, and the "real estate speculators" have almost disappeared.

After listening to Chen Xiaofen's report, Lin Zuhui said: "The overall arrangement is good. New Times Group has the strength to cover large and medium-sized real estate projects. The plan to sell 3000 residences this year is very reasonable. Among them, Cyberport will account for 1200 residential projects, which is also very reasonable. .”

Chen Xiaofen nodded and said, "The boss gave us confidence, otherwise we would have to learn from other developers and sell at a reduced price!"

At the end of last year, Wheelock launched a site in Kowloon, the unit price was only 5888 yuan (the peak unit price was 10000 yuan); it can be seen that the major real estate developers are really desperately reducing prices, so as to cash out cash and repay loans.

It is estimated that in May, almost all prices start with the word 4, which is equivalent to a drop of [-]%, which is quite terrifying.

Lin Zuhui continued: "In this way, there should be a 'Xiao Yang Chun' in February and March. You can take advantage of this opportunity to achieve the sales target of Cyberport. At the same time, you can carry out marketing in accordance with the 'technology concept'. For various promotional methods, you can create an 'option concept' to package promotions with 'package appreciation', and the period can be set at 3 years..."

As soon as Chen Xiaofen heard it, she knew that the boss was explaining the future trend of Xiangjiang Real Estate. It was a consensus among everyone that it would continue to fall by 3%. From the boss's meaning, it can be inferred that Xiangjiang Real Estate will return to its current level in three years, and there is a certain degree of appreciation.

Of course, this is a VAM agreement. If you lose, the developer will have to give money to the customer, which can be used to repay the loan.

"Ok"

After Chen Xiaofen left, Lin Zuhui thought in his heart that with him around, Xiangjiang’s economy would recover quickly; therefore, he did not expect that Xiangjiang’s real estate would really drop to the level of his previous life—50-70% to buy bottoms, and 30%-50% to buy It can be fully copied.

After all, a lot of history has changed, although the general trend has not changed!

In the afternoon, Lin Zuhui took time to look at the stock market, and was taken aback by the fact that the Hang Seng Index had risen by 1200 points, reaching around 12300 points, which is admirable—the level of "superstition" of Hong Kong people.

The opening of the market on the first day of the new year is a good sign - a bull market, so everyone buys stocks one after another, pushing the market higher.Of course, February is also called "Xiaoyangchun". Everyone also believes that there will be good omens, so they enter the market one after another.

"dong dong"

"Come in"

Liang Zhenxun came to Lin Zuhui's office and reported: "Boss, the group has repaid 150 billion in debt, and there is still 635 billion Hong Kong dollars in liquidity in the account, and the group's debt is 200 billion Hong Kong dollars."

Lin Zuhui nodded upon hearing this.

Group debts are not all debts of the company. For example, the debts of listed subsidiaries, or even the debts of a certain real estate, will not be counted in the group's debts.

The 200 billion debt is just a drizzle for a group with hundreds of billions of net assets.However, Lin Zuhui intends to spend money as soon as possible, and cannot let it idle in the account.

At the end of last year, according to statistics, the value of New Era Group's overseas stock assets is as follows:

The total market value of US stocks held is 45 billion US dollars, or about 350 billion Hong Kong dollars;

The total market value of British stocks held is 260 billion Hong Kong dollars;

Holds 'Sony' with a total market value of 156 billion Hong Kong dollars;

Total: 766 billion Hong Kong dollars in stock market value.

"The group is preparing to acquire all the equity in the Canary Wharf project in London, and it is estimated that it will need to spend about 130 billion Hong Kong dollars."

"Okay, I'm ready to make funding arrangements!"

Lin Zuhui nodded. He has already made an appointment with the major shareholders of the Canary Wharf project to redeem their shares and completely privatize the project.

Originally, the other shareholders meant to list the Canary Wharf project next year, but Lin Zuhui proposed to redeem their shares, and they obviously have no objection.The purpose of listing is to cash out, and Lin Zuhui valued Canary Wharf at about 26 billion pounds (260 billion Hong Kong dollars). At this price, everyone’s return rate is already very good, with an appreciation of nearly 80% in five years.

Chapter 618 [Invest in London]

On Monday, Lin Zuhui came to Canary Wharf.

"Mr. Lin, welcome to Canary Wharf!" Richman, the president of the Canary Wharf Group, received him warmly.

Lin Zuhui said with a smile: "Haha, Mr. Richman, every time I come to London, I always have an office here. I have always watched the development of Canary Wharf, and I am very satisfied with your leadership for so many years. I I believe that under your management, Canary Wharf will become the 'Wall Street' of Europe."

Richman is a good project planner. If he hadn't expanded wildly back then, he would have been a giant in the real estate industry.

The Canary Wharf project, under his development in recent years, has achieved great success:

In 1995, the status of London's new financial business district was determined.

In 1996, Citibank signed a pre-lease agreement for an office building of 5.6 square meters (canary wharf currently has a total office building area of ​​110 million square meters, and some land has not yet been developed).

In 1997, the Anglo-French summit was held in Canary Wharf.

This year, HSBC signed an agreement for a headquarters office building of 11 square meters.

Meanwhile, the Canary Wharf project already has 80 shops and restaurants and 20000 people working again.

At this time, Canary Wharf has the 'DLR Wharf Light Rail Line' and the 'Airport Line'; by next year (1999), there will be three railway lines, namely: Jubilee Metro Line (Canary Wharf Station), DLR Extension cords and Jubilee extension cords are available.

The leasing rate of the entire Canary Wharf is already 60% (including pre-leasing), and it is believed that once the subway is opened, the leasing rate will soon reach more than 90%.

Because of this, the acquisition of another 50% stake by New Era Group will cost nearly 130 billion Hong Kong dollars (about 13 billion pounds); the other 50% stake is mainly in the hands of Citigroup, HSBC, Richman and others.

Citigroup and HSBC are also major tenants of Canary Wharf. Of course, their rents are very low and the lease term is as high as 10 years. Because of the introduction of such financial giants, Canary Wharf's "European Wall Street" has only lived up to its name.

Barings Bank under Lin Zuhui also moved its headquarters here and leased a building of 3 square meters.Barings Bank can't use so much office space, but Lin Zuhui's other companies have settled in this building one after another, so there will be no waste.