Once Li Jianhui decided to take action, he naturally could not let it go so easily. At three o'clock on Tuesday afternoon, Li Jianhui attended the first land auction after the Spring Festival in Hong Kong on behalf of Xinjian Real Estate.
Also present were Al Merris, president of Hutchison Real Estate, and Su Hongtao, president of Wheelock Land.
Li Jianhui had no interest in this auction before. After all, the land parcels being auctioned today are mainly in Sha Tin, and a small number are in Kowloon and several districts. They are not within the scope of Li Jianhui's plan at all.
It's just that Heng Lung and its allies seem a bit aggressive, and Li Jianhui doesn't want them to get these lands easily.
Many times when two parties fight, the third party will suffer heavy losses. For example, in this auction, the competition between the Xinjian Department and Hang Lung evolved into a confrontation between the two camps, Guanghua Construction, Chinese Real Estate, Kowloon Construction, and Cheung Kong
, Xinde, Xinhe, Yihe and Taigu were also involved.
As a result, today's auction was unprecedentedly fierce, with Sun Hung Kai, Henderson, New World, Hopewell, Chinachem, Chow Hing Properties, Wharf, etc. becoming spectators.
Chris, who has hosted many auctions, was the most excited this time. Even though his mouth was dry, he was still full of passion. After every bid, he would ask if anyone else would increase the bid.
As time passed, high-quality land began to appear, and Chris said loudly: "The next is our penultimate land auction today. This land is located north of Yau Ma Tei and covers an area of 567,500 square feet. Whether it is
Whether it is building a commercial complex or a large residential area, both are extremely high-quality plots of land.
The starting price of this piece of land is HK$100 million, and the price will increase by a lot each time. Anyone who is interested in buying it, please bid."
This land belongs to the Yau Tsim Mong area, one of the most prosperous areas in Xiangjiang. It is also the land that major real estate companies are focusing on today. Li Jianhui also has some ideas about this.
Hutchison Real Estate mainly focuses on high-end residential areas, villa areas and office buildings. This land is very good for building office buildings. He did not intervene himself, but ordered Maires to seize this land as much as possible.
This time it was no longer a show between the two camps. Other large real estate companies were not willing to give up this land easily, so in a short period of time, the price soared to HK$120 million.
Although such a price is not particularly high in Yau Tsim Mong, there are not many companies that can raise the starting price. At this time, only leading real estate companies such as Heung Kong are still competing.
Seeing that it would not be a problem to continue adding this amount, Li Jianhui directly signaled Mairis to bid 150 million Hong Kong dollars. He wanted to see if these companies would follow suit.
Hearing that Maires suddenly increased the price by 30 million, there was a moment of silence at the auction site. However, this price obviously did not scare Hang Lung, Cheung Kong, Jardine Matheson, Swire, Sun Hung Kai, Wharf and other companies.
Nubigian even directly quoted a high price of HK$200 million in an attempt to scare off these opponents and seize the ownership of this land.
It's a pity that neither the charter king nor Li Jianhui obviously gave up because of the price.
The charter king had just bid 210 million Hong Kong dollars, and Li Jianhui directly asked Mairis to bid 250 million Hong Kong dollars.
This price has pushed the land price to HK$440 per square foot. If it were in Tai Po, Fanling, Sheung Shui and other places in Tin Shui Wai, no one would have taken action.
However, this is in Yau Tsim Mong, one of the most prosperous areas in Xiangjiang. The price is obviously far from what everyone thinks is the highest limit.
After Sevaiya made the offer from Maires, it immediately added 10 million, quoting HK$260 million.
Kwok Desheng of Sun Hung Kai Properties has no intention of getting out of the business. In the past, the two parties fought and Sun Hung Kai got nothing. Now, he has to fight for this piece of land no matter what.
Wharf was also unwilling to quit like this and continued to quote upwards.
"Hutchison Real Estate has quoted HK$400 million. Is there any other bid?
This is the only piece of land in Yau Tsim Mong area in this auction, and it is quite large. If you miss this opportunity, it may not be available in the next auction."
Chris hopes to get a higher price at auction. Although the price is not low, it is still a little short of the highest price per square foot ever sold in Kowloon.
Chen Zengxi obviously didn't want Xin Jianxi to just take over the land, so he made another bid and added 20 million at one time, bidding 420 million Hong Kong dollars.
Wharf, Sun Hung Kai and even Jardine Matheson and Swire & Fung have all given up on the auction of this land. Now only the competition between Hutchison Land and Hang Lung is left.
Maires obviously didn't want to play a game of adding bits and pieces. With Li Jianhui's authorization, he directly quoted a price of HK$450 million.
At the same time, the price per square foot of this land has soared to 793 Hong Kong dollars per square foot, which is more than 80 million Hong Kong dollars per hectare.
This is the reason why so many people in the Hong Kong Real Estate Chamber of Commerce opposed Li Jianhui's sales below the market price.
Regardless of Tin Shui Wai or Tseung Kwan O, Li Jianhui's land was basically given away for free. One hectare cost less than HK$200,000. This alone saved him a lot of costs.
Looking at Tseung Kwan O now, there is no land price lower than HK$400 per square foot. Tin Shui Wai has also been rising this year, especially with the recent announcement of a lot of good news by Li Jianhui. The government has once again raised the land price, which has also exceeded HK$300.
per square foot.
As house prices in Hong Kong rise, land prices in the two places will rise further. Especially after the Tseung Kwan O MTR and Tai Lam Tunnel are opened to traffic, I am afraid that land prices in Tseung Kwan O and Tin Shui Wai will rise a few steps higher.
The growth rate of real estate prices in Xiangjiang in the past two years is definitely one of the best in the world. The 800-square-foot house that Li Jianhui's eldest sister bought for him in 1977 cost only HK$500,000 plus decoration, and now the price of that house has nearly doubled.
This is because the house has a good community environment and its original price was relatively high. In some places, house prices have even soared 1.5 times.
The price of 450 million obviously did not reach the limit that Hang Lung could afford. Chen Zengxi directly quoted a price of 460 million without waiting for Chris to ask.
Maires quoted 470 million, and Chen Zengxi then quoted 480 million. As the two competed, the price soared to 560 million Hong Kong dollars.
At this time, Li Jianhui stopped Mairis from continuing to quote. In his opinion, the price was already quite high. Since Hang Lung was rich and wealthy, he would give this to Hang Lung. He wanted to see how much money Hang Lung would have to expand other industries in the future.
.
The Xiangjiang property market will not continue to grow like this. When the bubble bursts in two years, he will want to see how much capital Hang Lung has to support it.
This made the people watching the show a little stunned. The momentum that Maires showed before clearly indicated that Li Jianhui was determined to win this land.
Although the current price is high, it is still within the affordable range. There is still some profit in acquiring this piece of land, especially during the current period of rapid development of the real estate industry in Xiangjiang. Even if you leave it alone, you will not lose money.
Originally, everyone thought the price would be 600 million, but they didn't expect it to stop here. A big show made them feel that they still had unfinished business.