I Want To Be a Rich Man on Hong Kong Island

  Chapter 596 [Glory and Glory]

  In an office building in Harbour City, Huaxin Real Estate, a joint venture between Cheung Kong Industrial and the Bao family, was officially established;

  Changjiang Industrial Co., Ltd. invested in four land plots in the East of Tsim Sha Tsui, accounting for 50% of the shares;

  The Bao family took out 750 million Hong Kong dollars in cash to invest in shares, accounting for 50% of the shares;

  In the conference room, the two parties signed a cooperation agreement under the witness of lawyers.

Cheung Kong Holdings spent HK$550 million to auction these four plots of land two years ago. Now they have appreciated by more than 40% in less than two years; of course, the value of these four plots will reach HK$1.8 billion by 1980. above.

  Two commercial buildings with shopping malls and two hotel buildings will be built on four plots of land. It is estimated that the construction cost will cost more than 1 billion Hong Kong dollars;

  The 750 million Hong Kong dollars put out by Baos will be used for other real estate projects in addition to the start-up funds for the four plots of East Tsim Sha Tsui.

  After signing the contract, the Bao family has booked two high-quality properties;

  You must know that in the previous life, when acquiring Wharf, Jardine Matheson had offered to exchange Bao Yugang's shares with the high-quality properties of Land;

  Bao Yugang did not refuse at the time. Instead, he made a tentative proposal to exchange for the three buildings of Golden Gate Building, Chater Building and Prince Edward in Central;

  Unfortunately, Jardine is only willing to exchange ten high-quality small houses in Golden Gate Tower, Starlight House, and Mid-Levels.

  If Jardines agreed to Bao Yugang's request at that time, maybe Wharf would have kept it!

  The value of Wharf is definitely higher than three buildings!

   "Guangyao, President Li, please come a lot in the future!" Bao Yugang said humbly.

  The chairman of Huaxin Real Estate is Bao Yugang. Cheung Kong Industrial has sent some management teams to assist the Bao family, and at the same time, it charges certain Huaxin Real Estate management fees.

  Promote the Bao family in disguise and lead them into the industry!

  Wu Guangyao said: "What are you polite? We are a win-win cooperation!"

  Cooperative development of real estate projects is a very common practice on Hong Kong Island. At present, all large projects are jointly developed by several real estate companies.

  Recently, although the Wu family and its subsidiaries have made a lot of money, they have made more investment;

  The speculation in gold futures/spots cost 5 billion U.S. dollars, and there are also a large number of investment projects abroad, with funds as high as 2 billion U.S. dollars;

  In Hong Kong, it is necessary to invest 20 billion Hong Kong dollars (3.5 billion US dollars) one after another in Tin Shui Wai alone.

   Therefore, Wu Guangyao intends to take out these four plots and let Bao Yu just pay for the joint development.

   does not mean that there is no money to develop these four plots, but Wu Guangyao also has to guarantee his own cash flow, plus just be a good favor.

  Looking at Wu Guangzheng next to Bao Yugang, Wu Guangyao said: "Old Bao, you are planning to let Guangzheng take over the real estate business!"

Wu Guangyao and Wu Guangzheng are both of the Wu family's "light" generation. Previously, Bao Yugang asked Wu Guangzheng to call Wu Guangyao'Uncle Wu', but Wu Guangyao strictly rejected it. What a joke, even though he and Bao Yugang are peers But he and Wu Guang are the descendants of the Wu family in Jiangsu, Zhejiang and Shanghai, so they must not mess up their seniority.

  Bao Yugang smiled and said, “I plan to let him come to Huaxin Real Estate to study. What location do you think is better!”

  Wu Guangyao looks at Li Xing and asks his opinion!

  Li Xing thought for a while, and said, “Just the vice president! We, Cheung Kong Holdings, after completing the Tsim Sha Tsui East Project and Wan Chai Tobacco Land Project, will withdraw from Huaxin Real Estate, and the handover will happen!”

  The management team of Cheung Kong Holdings does not work in Huaxin Real Estate for free, and Huaxin Real Estate needs to pay a management fee.

  Bao Yugang and Wu Guangzheng expressed their gratitude. The Bao family not only harvested three properties (two in Tsim Sha Tsui and one in Wan Chai), but also a real estate company. There is no reason to be unhappy.

  Hong Kong's real estate presents a prosperous scene, all major real estate developers are conquering the city, and Wu Guangyao's companies are naturally not lagging behind.

  On this day, Wu Guangyao decided on a whim and decided to inspect the big projects developed by his own real estate company.

  First, Wu Guangyao, accompanied by Wei Li, came to Aberdeen.

  Aberdeen is located on the south side of the island, opposite to Ap Lei Chau, which originally belonged to the warehouse wharf of Kwan Yick Warehouse;

  After Hutchison Whampoa privatized Junyi Cang, it was preparing to turn it into a large-scale housing estate.

  Aberdeen is a well-known fish wholesale terminal. When you walk here, there is a hint of seafood in the air.

   "According to the current progress, the fourth phase of the project is expected to be completed within six years!" Wei Lihui reported.

  Wu Guangyao nodded. The fourth phase of the project consists of 3,500 residential units and two shopping malls. There is no need to worry about the profits of Hutchison Whampoa in recent years!

  The Aberdeen project was initiated in the second half of 1975 and is divided into four phases. The first phase will be sold at the end of this year. The estimated price is about 400 Hong Kong dollars per square foot;

  When the second phase of the project is sold, it will reach 700 Hong Kong dollars per square foot;

  The third phase is expected to be 900 Hong Kong dollars, and the fourth phase is expected to be 1,200 Hong Kong dollars;

  Calculated like this, the average selling price is 800 Hong Kong dollars per square foot;

  3,500 houses have a total area of ​​2 million square feet. This project is expected to generate a profit of about 800 million Hong Kong dollars.

  This is just one project. There are as many as a dozen large and small projects in Hutchison Real Estate, and the total investment in these projects exceeds that of Aberdeen.

  Hutchison Whampoa’s real estate profit ratio does not exceed 50%, and other industries also perform very well;

   Thinking of this, Wu Guangyao finally breathed a sigh of relief!

  Hutchison is not his own, but if Hutchison is not developed well, gossip will still spread on Hong Kong Island!

  Of course, if in the 1980s, Hutchison Foreign Company did not enter a new field;

  So, the achievements of Hutchison Whampoa in this life may not be higher than that of Hutchison Whampoa in the previous life.

  After all, there were 3.5 container terminals in Kwai Chung, Hutchison Whampoa in the previous generation, and only 1.3 in this generation;

  Furthermore, the last generation Hutchison Whampoa acquired the Hongkong Electric Group, and this time the Hongkong Electric Group is in the hands of Wu Guangyao.

  In response, Wu Guangyao intends to spread Hutchison Whampoa’s investment overseas and the mainland in the 1980s.

  On the same day, Wu Guangyao also visited the former North Point Power Plant site, a project developed by Jiahong Real Estate under the Hong Kong Electric Group.

  This piece of land can also develop a large-scale housing estate with 4000 units, as well as hotels and shopping plazas.

  Wu Guangyao named this project the Urban Garden Project, the hotel is called the city hotel, and the square is called the city square.

  City hotels are naturally handed over to Starlight Hotel Management for management. That is, the city hotels pay Starlight Hotel a management fee every year, and the remaining profits go to the Hongkong Electric Group;

  City Plaza, Wu Guangyao also had no intention of taking him into private arms, and he would later collect rent every year as a property of the Hongkong Electric Group.

  There are so many real estate projects under Wu Guangyao. There are five or six major projects and dozens of small projects on one island, so that one day is not enough to inspect;

  So Wu Guangyao ended the day's whim!

  (End of this chapter)