Hong Kong Island's wealthy era

Chapter 20: Obtaining the Taikoo Valley
When Lei Liquan entered the market to buy gold, the price of gold was US$88 per ounce. When it was delivered, it was US$180 per ounce, which more than doubled.

Lei Liquan invested 900 million Hong Kong dollars, and now more than [-] million Hong Kong dollars have been received.

Of course, not all of the money belongs to Lei Liquan.

Lei Liquan used this batch of gold as collateral to borrow 5000 million from HSBC in order to buy low-priced properties.

The gold mortgage must be repaid first, after all, the gold has been sold.

After paying off the HSBC 5000 million loan and interest, there is still almost HK$[-] million left in the pocket.

Arrangements were made immediately to transfer the remaining 6500 million of the purchase price from Chinese Real Estate and formally hand over to Chinese Bank.

If you hand it over as soon as possible, you can collect the rent as soon as possible, which will also increase your income.

So far, there are still over [-] million available funds in the account, and we don't owe a penny of foreign debt. This is simply a miracle, and it is also strange. Since there is no bank loan for bargain hunting.

Lei Liquan felt that he was still too conservative.

……

Lei Liquan did not expect that after Lin Changming contacted Swire & Co., Ltd. about his land purchase needs, Swire & Co.'s senior manager Shi Yoke quickly made an appointment with Lei Liquan for a meeting.

Lei Liquan had a guess that it was his legendary experience that made Xiao Shiyue decide to find some confidence in real estate in himself.

After all, a huge investment like Taikoo Shing - 13.5 billion Hong Kong dollars, is equivalent to the net profit of Swire & Company in the past 20 years. In 1973, Swire & Company's net profit was only 3900 million Hong Kong dollars, less than half of Lei Liquan's (investing in gold or stock profits).

The strength of Swire & Co. Ltd. does not lie in its net profit. It believes that stability is at the forefront and its shareholding rate is extremely high.

Negotiations between the two parties were conducted in the conference room of Swire Pacific.

To be honest, Swire Pacific lost a lot of wealth in vain because of its lack of strength or its lack of stability:

For example, the 1970-square-foot coastal land at the former Blue Chimneys site sold to New World Real Estate in 20 was sold to Zheng Yutong for only HK$1.3 million. During the peak real estate period in the 80s, the land alone was Nearly 10 times.

For example, in order to develop Taikoo Shing this time and pursue stability, we are unwilling to take out bank loans and are willing to sell our high-quality land to start the reconstruction of Taikoo Shing.

When the two parties met, Xiao Shiyue said politely: "Leisheng has made huge gains in stock and gold investments in recent years, which is really enviable!"

This is not a secret to the British-owned foreign companies. Foreign companies usually communicate with each other. Before meeting with Lei Liquan, Xiao Shiyue must have done some investigation.It's just that Lei Liquan made a lot of profits from investing in stocks and gold. These are all uncertain; but the specific amount of profits should only be known roughly.Lei Liquan said modestly: "Mr. Shiyok, thank you for the award! Swire Properties' recent announcement of the 'Taikoo Shing' project puts us, as peers in the real estate industry, to shame; such a grand project will definitely bring improvements to the living environment and economy of Xiangjiang." It will make a huge contribution and will become one of Xiangjiang’s classic real estate projects!”

This is not flattery. Taikoo Shing is one of the most classic real estate projects in Hong Kong. In the field of large-scale housing estates, it basically ranks first. In the previous life, the geographical location of Whampoa Garden could not be compared with Taikoo Shing, and the land area was also 30% smaller. 200 square feet, a total of [-] million square feet less commercial buildings; as for other large-scale housing projects, such as South Horizons, Laguna City, Sceneway Gardens, Kingswood Villas, etc., in terms of geographical location and commercial value , cannot be compared with Taikoo City.

When Xiao Shiyok heard Lei Liquan's evaluation of Taikoo Shing, he became even more determined that the Taikoo Shing project had great potential. Swire Properties could not afford hundreds of millions of Hong Kong dollars in start-up capital; in other words, Swire Properties did not dare to go it alone and borrow large sums of money to start this project. .

Facts have proved that Swire Properties is indeed very conservative. The two buildings of the first phase of the previous Taikoo Shing project were launched in 1976, and the price was only 200 to 230 yuan to attract buyers with the image of mid-level residential buildings; and, Swire Real estate is also worried about poor sales, giving priority to the employees of Swire Group and Golden Gate Construction to enjoy discounted subscriptions, so as to cause the effect of 'short-term sold out', so as to attract the attention of the public.

The result was that Swire Properties underestimated the purchasing power of the market and sold out quickly. In view of this situation, Swire Properties quickly changed its strategy. The third and fourth buildings quickly attracted buyers with the image of high-end residential buildings. When they opened in early 1977, the selling price was The price was also raised to HK$300 per square foot. As a result, buyers and speculators lined up 48 hours in advance.

In general, these British-funded real estate developers do not know enough about Xiangjiang Real Estate, or no Chinese-funded real estate developers can play tricks at all; if they do not hold a large amount of land in their hands, how could they gain a foothold in Hong Kong.

Seeing Lei Liquan's affirmation of Taikoo City, Xiao Shiyue asked tentatively: "Does Lei Sheng think real estate will boom soon?"

Lei Liquan said confidently: "The overall situation is improving, it's just the length of the trough. Maybe when the first phase of Taikoo Shing is sold, the market can return to the level of 1972. Of course, these are just My personal opinion.”

With such an answer, little Shiyock will not hold Saixi Lake and Taikoo Valley No. 1 in his hands and wait for the land to appreciate in value; because he is more determined about the huge plan of Taikoo City, he must know how to choose and sell some land to ensure too much land. Implementation of the ancient city plan.

Sure enough, Xiao Shiyue immediately said: "Then at what price does Lei Sheng plan to purchase these two pieces of land?"

Lei Liquan did not bargain excessively. For himself, the first thing to ensure was that at least Li Chaoren could not obtain all of these opportunities.

Therefore, Lei Liquan said seriously: "The Saixi Lake land is a total of 86.4 square feet, and we can bid 8000 million Hong Kong dollars; the Taikoo Valley No. 1 land is a total of 20 square feet, and we can bid 4000 million Hong Kong dollars."

This offer is only 800 million Hong Kong dollars lower than the previous life, but the first offer is already very sincere.

There was no expression on Xiao Shiyue's face, which showed that he had a good feeling about the offer. However, it was obvious that Taikoo had already made an offer. Xiao Shiyue immediately said: "The Saixi Lake land is HKD 8800 million and Taikoo Valley is HKD 4200 million. This is It’s our quotation. Lei Sheng took the initiative to look for land and calculated that we need a sum of funds to start the Taikoo Shing project; but your quotation is not so sincere, so the transaction must be based on our quotation!"

After that, the two sides fought for a while, and finally Lei Liquan made the decision: "Mr. Shiyok, this has exceeded Thunder Development's expectations. How about Thunder Development purchase Taikoo Valley for 4200 million Hong Kong dollars? We can pay it off in one lump sum. There is no need to pay in installments, which is very beneficial to Swire Properties!”

Xiao Shiyue also said with great satisfaction: "Then follow Lei Sheng's suggestion. As for the Saixi Lake plot, I will find another developer!"

　Ask for recommendations and monthly tickets!

　　
　
(End of this chapter)