After more than half a month of internal review, the situation of the major branches of Xinjian Bank in Xiangjiang has been basically found out. The Tseung Kwan O branch is obviously not an exception. The same problems as the Tseung Kwan O branch have appeared in the Tin Shui Wai branch, Tai Pu branch, Sha Tin branch, etc. to a greater or lesser extent.
, but not as unscrupulous as the Tseung Kwan O branch.
At 10 a.m. on April 8, Li Jianhui held a joint meeting with senior executives of Xinjian Bank, Xinjian Real Estate, Hutchison Real Estate, and Wheelock Real Estate in Conference Room 205 of Wheelock Building.
As a capitalist economy, Xiangjiang's economic development follows market changes. There is not so much macro-control and there is no government to support it.
Since the news of the thunder in London, housing prices in Xiangjiang have peaked, and the downward channel has opened.
The first ones to panic were those speculators who owned multiple houses. In order to cash out their capital as quickly as possible, they took the initiative to lower the sale price.
After that, there are those middle-class people who have some strength, who would rather be peace dogs than people in troubled times. This part of the population began to choose a retreat because of worries about the future, and also began to sell their own properties, so that supply exceeded demand. As time passed,
, the price is also constantly falling.
There is no record price here, and there is no price restriction order. Due to the influence of the market, developers have to choose to lower the opening price. They do not seek to make big profits, as long as they do not lose money and the company can operate normally.
Many people still remember the crisis of 1973, and they do not want their companies to disappear into the long river of history like those bankrupt companies.
Especially since 1979, the North has proven to the world its determination to safeguard its territorial integrity and dares to fight back even with the support of world hegemons.
As a result, the property market is currently selling more and selling less, and there is a strong wait-and-see attitude. As long as the problem is not determined for a day, the property market will remain in a downturn.
No matter how Li Jianhui and others express their opinions, and no matter what projects they invest in, it will be difficult to reverse the current cold property market.
The collapse of the property market this time was not due to a problem in the economy. In addition, some forces were fanning the flames, so it came faster and more violently.
At this meeting, Li Jianhui first listened to brief reports on the first quarter situation of several major groups, and then gave guidance on the development direction for the next period.
"Our major real estate groups are pretty good. Except for Tianshui City, which must be developed, they have not developed any new projects since the second half of last year. Moreover, except for Tianshui City, almost all the developed projects have been sold. This
This crisis will not have much impact on us.
Next, we will continue to adhere to our development strategy and focus on developing the Baodao and Japanese markets, especially the Japanese market. It is estimated that there will be a golden period of real estate in about ten years.
As for Xiangjiang, I estimate that this round of property market downturn may last three to four years. We can just focus on the development of Tianshui City in the past few years, and we will not carry out other real estate development projects in the past few years.
But we should not stop our land reserves. The current downturn in the property market is only short-term. As long as the two parties peacefully resolve the issue of Hong Kong, the property market will inevitably usher in a period of rapid development."
At present, the Xinjian Department has many construction projects in Heung Kong, such as Tin Shui City, Fai Hung City, Whampoa Gardens, etc., as well as the Tseung Kwan O business complex, including Tseung Kwan O and Tin Shui Wai Tai Defeng Plaza, and the Ap Lei Chau Lane Crawford.
shopping center.
Also under construction are the Sham Shui Po Phoenix Basketball Stadium, Kwun Tong E-commerce Sports Center, Tseung Kwan O Jiayi Opera House, etc.
Although the three major real estate groups have not developed new projects since the second half of last year, the investment in these projects under construction can still make these major groups rank among the top five annual investments in Xiangjiang real estate.
Especially Xinjian Real Estate, which has only two projects under construction in Tianshui City and Huihong City, ranks first in terms of annual investment. Even Wheelock Land Group, which has two Wheelock Plazas under construction, cannot compare with Xinjian Real Estate.
Build real estate.
That is to say, Li Jianhui is not willing to let Xinjian Real Estate be listed now. Otherwise, the largest listed real estate company in Xiangjiang will definitely be Xinjian Real Estate, and it will even directly become the first listed company under Xinjian Group.
I recall that a few years ago, Xinjian Real Estate acquired hundreds of hectares of land from Tin Shui Wai and Tseung Kwan O at HK$1.5 per square foot. Now, in these two places, the lowest price per square foot exceeds HK$300.
Not counting the profits from Xinjian Real Estate's development projects, just the land alone has earned it billions of Hong Kong dollars.
Once the express link and subway from Tin Shui Wai to the main urban area, the subway from Tseung Kwan O to Kowloon and the Eastern Harbor Crossing are completed, and the property market in Hong Kong rebounds, the listing of Xin Jian Real Estate will surely skyrocket.
Unlike the two major real estate groups, Xinjian and Hutchison, Wheelock Land mainly develops commercial real estate, and its focus is on the construction of Wheelock Plaza.
At present, Wheelock Land has basically ended other aspects of development, and its focus is on Wheelock Plaza.
In addition to the two Wheelock Plazas in Hong Kong, six more plazas are under construction in Lisboa, Taipei, Kuala Lumpur, Bangkok, Chiang Mai and Singapore.
Since the earliest investment in Lisboa Wheelock Plaza is not expected until the end of this year, Wheelock Land is currently mainly investing and making little profit, so much so that it was once the first listed company under the Xinjian Group to be listed one after another.
Buddha, Watsons, Xinjian Bank, Hutchison Real Estate, Whampoa Holdings, Wheelock Holdings, etc. have surpassed.
Moreover, Wheelock Land is one of the few banks owned by Li Jianhui that has loans from banks. If it were not for the loans from Xinjian Bank, Maybank Public Bank, and Bank of East Asia, the construction of so many plazas at the same time would directly cause Wheelock Land to go bankrupt.
.
Li Jianhui asked several major companies to prepare land reserves. In Su Hongtao's view, his company did not need that. There are already two Wheelock Plazas in Xiangjiang, and there is also a land reserve in Sham Shui Po for the future construction of Wheelock Plazas.
The three in Xiangjiang are a bit redundant. If Li Jianhui and the government had not requested it, he would not have wanted to build the one in Sham Shui Po.
Therefore, Wheelock Land has no need to reserve land in Xiangjiang. If you have the spare money, you might as well find a better market to build a Wheelock Plaza.
For example, in Kaohsiung, Seoul, Tokyo, Osaka, Jakarta, Bandung and other places, for Wheelock Land, it will only make money after the construction is completed. In the future, Wheelock Group will become the largest chartered public enterprise in Hong Kong, all relying on collection
Live on rent.
Li Jianhui did not force this, but asked Xinjian Real Estate and Hutchison Real Estate to reserve as much land as possible for future development.
The acquired land that is not to be developed for the time being will be leased to Tianshui Vegetable Planting Company, which will conduct unified management of these lands to prevent them from being abandoned.
In addition, Li Jianhui also asked Pan Desheng, vice president of Xinjian Group and president of Xinjian Real Estate, to go to Taipei as a representative of Xinjian Group to discuss with the Taiwan government on Taipei MRT investment issues with the president of Asia Affairs of Blue Maple Holdings and the vice president of Nanlong Holdings.
The bottom line for Xinjian Group is to obtain the property development rights for four of the twelve Taipei MRT stations, two of which must be located in prosperous areas.