Beat up the drowned dog

Author: Underwater Wild Fish

Beat up the drowned dog

Hong Kong, Hutchison Building Headquarters:

"Chen Sheng. This is the recent progress and funding details of the Huangpu Garden project. Please take a look first." Zhou Jiayang had prepared this information early in the morning.

"Oh, let me see, when can pre-sales start?" Chen Zhiwen took the information and asked.

Whampoa Garden is currently one of the most important projects under Hutchison Whampoa. The entire group company has invested a large amount of mobilizable funds in order to convert the value of this land into liquid funds as soon as possible. .

The entire Huangpu Garden is divided into three phases. The first phase is a commercial plaza with an area of ​​1.7 million square feet and 20 residential projects with about 3,500 households. Although bank funds can be used for real estate development, Chen Zhiwen also met with Shen Bi specifically. Bi agreed to help, but there were many restrictions. Hong Kong as a whole had just gone through the real estate risk period. Big banks were still relatively strict about risk control, especially Hutchison Whampoa itself, which was heavily in debt.

Although other small banks do not have such strict risk management and control, they do not have enough funds. Hutchison Whampoa also cooperates with some such banks, but the main ones are HSBC, Standard Chartered, East Asia, Hang Seng and other large banks.

However, the capital investment in the Whampoa Garden community is not much smaller than that of Harbor City in Wharf. Chen Zhiwen also understands the difficulties that Jardine is facing now, and this is only when other overseas businesses can support it.

However, unlike Harbor City, Whampoa Garden is a community project. As long as the time limit stipulated by the Hong Kong government is reached, the funds can be recovered through pre-sale. Nowadays, Hong Kong housing prices have increased significantly. As long as it reaches the point where pre-sale is possible, the entire The financial pressure of the project can be successfully resolved.

"According to the current speed, we will be able to pre-sell by November. The main reason is that it took a lot of time to build the foundation in the early stage." Zhou Jiayang said.

The pre-sale period stipulated by the Hong Kong government is 8 months before the roof of the house is built. This is not much shorter than the construction speed of the residential floors. As long as the main building starts to be built, it will basically be fast.

"Okay, don't worry too much about funds. Just follow the normal process and ensure quality. This project is so big that it will become a milestone in Hong Kong's real estate industry in the future. Don't have any big problems." Chen Zhiwen said while looking at the financial expenditures.

In the history of real estate in Hong Kong, the four walled villages can definitely be said to play a decisive role. The only ones that can rival them are those super commercial office building projects, such as the later Exchange Square, the International Financial Center Building, etc. Although the surrounding villages Village projects are not as long-term holding as large office buildings, which can bring long-term stable income to the holders, but in the short term, the profits it can bring are very large, so much that the income of a super enclosed village project can be easily Bought a few buildings in Central.

For example, the original Whampoa Garden in history started in 1985 and ended in 1989. It earned Hutchison Whampoa a total of HK$5 billion plus a large shopping mall at that time. And HK$5 billion in 1989 could buy 2-3 An ordinary Central building, a super building, or self-built.

"No problem, we have always attached great importance to quality, and have also specially invited Japanese third-party institutions to regularly test the quality of various suppliers' materials." Zhou Jiayang replied.

"Okay, let's wait. When the funds return, we can start the second phase." Chen Zhiwen nodded and said.

Zhou Jiayang paused and then said: "Apart from Huangpu Garden, Hutchison Whampoa currently mainly develops land in cooperation with Chinese real estate, mainly Li Jiacheng's Yangtze River Industries. Considering that the debt has improved now, should we continue to develop land?"

Cooperate with Li Jiacheng?"

"Continue to cooperate, Hutchison Whampoa has so much land, why keep it?" Chen Zhiwen nodded and said.

In the 1970s and 1980s, the Chinese real estate companies in Hong Kong could be said to be a mass of heroes. People from all walks of life came to power. Everyone who could rise had their own vision, resources, courage, and opportunities. It was also because of this that Chen Zhiwen was very happy.

Cooperate with them to develop a bunch of non-core land owned by Hutchison Whampoa.

Although they were able to profit from it, Hutchison Whampoa also took at least half of the profits without having to advance any funds.

If we only look at the real estate market, Hutchison Whampoa would be losing money by doing this. After all, these land plots can double several times in the future, and the income will definitely be higher in the future. But what Chen Zhiwen wants is to cash out quickly. The 100 million Hong Kong dollars in the 1970s, in his

As long as you seize an opportunity, it will be worth more than 1 billion Hong Kong dollars ten years later.

Of course, the better locations are left to our old man or our own Galaxy Real Estate to develop together. With the recovery of the Hong Kong real estate market, whether it is Hutchison Whampoa, Galaxy, Hengyi, existing self-owned properties or properties to be developed

Land and properties have all seen a certain level of growth, so more funds can be borrowed from banks to develop projects.

Continuous circulation, continuous borrowing, and continuous development are the eternal routines of Hong Kong real estate companies. As long as the real estate market continues to rise, the profits gained will far exceed the appreciation of the properties they hold.

However, banks will still have certain risk control and will not lend unlimitedly. This is why Chen Zhiwen wants to cooperate with other Chinese real estate companies, especially Li Jiacheng, who has strong banking relationships and can lend a lot from the Canadian Imperial Bank.

In this case, Hutchison Whampoa can also convert its vacant land into cash earlier.

And this cash will soon have important uses.

"Okay, in addition to the retail aspect, after the last negotiation between us and Newbijian broke down, both of us began to compete in the real estate market for shops that can be used to open supermarkets. However, judging from recent trends, Jardine seems to have chosen

Instead of focusing on leasing, we gave up buying shops." Zhou Jiayang Youhui reported.

"Oh, Land has actually given up its property ownership. It seems that the problems of the Jardines are much more serious than we thought." Chen Zhiwen said with a smile.

Although running a supermarket does not require you to buy property yourself, most supermarkets in the world are mainly leasing, but due to the characteristics of Land's holding of commercial real estate, it has actually given up acquiring all the real estate in the supermarket, which means that it is definitely not that financial-wise.

It's smooth.

"It is indeed possible that Real Estate's central district redevelopment plan has been suspended for a long time. It was not suspended during the worst real estate crisis in 1973 and 1974, but it has been suspended now." Zhou Jiayang analyzed.

"Then we have to beat the loser even more. In addition to continuing to acquire properties, we also have to directly snatch their supermarkets from Land and Land." Chen Zhiwen continued: "Let's just waste it like this first and see if no one can bear it.

"

"Okay, I understand." Zhou Jiayang nodded and said.

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