Chapter six hundred and sixty-ninth food tasteless
This time the Bryan government did not remain indifferent. After the major real estate companies paid the land purchase funds, they immediately announced the formal bidding for the construction of the Xiangjiang New Airport and the subway line construction project from Tianshui New Urban District to the new airport via Tsuen Wan.
The total investment of these two projects is nearly 100 billion Hong Kong dollars, which has greatly boosted Hong Kong's economy, and the stock market has also rebounded, especially for building materials and construction companies.
Li Jianhui didn't care about the situation in the stock market at this time. With the senior officials of the Xin Jian Department here, he didn't need to worry.
The main problem now is the more than 20 hectares of land in Repulse Bay. Because of its location, it seems a bit luxurious to grow vegetables.
Other plots of land can be left undeveloped for the time being. Since this piece of land is located in the superior geographical location of Repulse Bay, it would be too wasteful not to develop it.
But whether to develop it into a luxury villa area or build an office building, or develop something else, Hutchison Real Estate and even Whampoa Holdings executives have quite different opinions.
In the conference room of Hutchison Building, Li Huidong, the president of Hutchison Real Estate, was the first to speak out: "Li Sheng, Ms. Chen, according to many discussions with the top management of our group, the Repulse Bay land is not suitable for the development of office buildings.
The main reason is that the main office area of our Tung Wah Club will be on Tung Wah Road. Jing Ao Road will be our key office development area in the future and will be mainly leased to multinational companies for offices. In addition, Hong Ao Road will be used as a reserve.
The Sun Hung Club is also accelerating the construction of the Sun Hung Business District in Sham Shui Po. It is expected that most of the corporate headquarters of the Sun Hung Club will be relocated to Sham Shui Po by the end of next year.
New Asia Club is also building the New Asia Business District in East Kowloon, where the main industrial headquarters of New Asia Club will be located here in the future.
In recent years, a large number of corporate headquarters will move out of the Central and Western District, leaving a large number of vacant office buildings here.
If we develop the Repulse Bay land into a business office area, we are afraid that it will be vacant for a long time. If the price is not far lower than the market price, not many companies will rent it. After all, although the Repulse Bay location is
Not bad, but not as good as Central.”
Li Jianhui is naturally aware of the current situation. Due to his butterfly effect, the East and West Districts are no longer sacred. At present, except for the Far Eastern Society and the Nanjiang Society's major corporate headquarters, which are still in the East and West Districts, several other parties have chosen to move to other areas.
In terms of residential properties, although The Peak is still famous, the reputation of King Wah Estate built by the Tung Wah Club, Sun Hung Gardens built by the Sun Hung Club in Tsuen Wan, and Tsui Chuk Court built by the New Asia Club in East Kowloon has rivaled the reputation of The Peak.
It can be clearly said that the land in Repulse Bay is worthless to Hutchison Real Estate and would be a pity to abandon it.
Whether it is developing a business district or a luxury villa area, it is not a good choice.
As for developing it into a commercial district, it is also not feasible. Both Central and Wan Chai are already well-known, and even building a Wheelock Plaza is of little use.
It's not just a few years ago. At that time, when it came to shopping malls, apart from Central and Mong Kok, it was Wan Chai.
Now when it comes to shopping malls, apart from these three places, Tian Shui Commercial District, Tseung Kwan O Commercial District, and Sham Shui Po Commercial District are no worse than these places.
Especially in the new urban area of Tianshui, there is not only Wheelock Plaza, but also Tangcheng. The Jiayi Animation Theme Amusement Park is about to be put into use. With many universities gathered there, its popularity will definitely be at the forefront of Hong Kong in the future.
It was not that no one had advised Li Jianhui that this land was not of much use to Hutchison Real Estate. However, considering the land restrictions in the following ten years and the intention to attack Nanjiang Club and Sun Hung Club, he spent a huge amount of money to acquire this land.
Come down.
Faced with the problem of how to develop this land, Li Jianhui had to think of a plan.
First of all, the office building category was directly crossed out. Hutchison Real Estate focused on developing Jing O Road in this regard so that it, together with Tung Wah Road and Hung O Road, would form another urban business district in Xiangjiang.
The luxury villa area was also abandoned by Li Jianhui. Although Repulse Bay is quite famous, there is a considerable gap compared with Victoria Peak, Jinghua Village, Sun Hung Garden and Cui Zhu Yuan.
Even if Hutchison Real Estate builds it to be extremely luxurious, the price cannot be compared with these areas. This is not because of its location and comfort, but mainly because of the celebrities.
Not to mention Victoria Peak, it has been a place where politicians and wealthy people in Hong Kong live for more than a hundred years.
Due to the settlement of Tung Wah Society Heung Kong member families, Jinghua Village has become the largest wealthy residential area in Hong Kong. Four of the top ten families in Hong Kong live here. In this regard, even Victoria Peak cannot compare with it.
.
Sun Hung Garden is similar to Tsui Chuk Garden, with members of Sun Hung Club and New Asia Club settling in, which also has a huge driving effect on it.
Forget about business, Li Jianhui has no plans to build another Wheelock Plaza. Xiangjiang has three in Tseung Kwan O, Tin Shui Wai and Sham Shui Po.
Li Jianhui is also not interested in the tourism industry. Building the tourism industry in a place like Repulse Bay is a complete waste. You must know that this inch of land is expensive. It is as high as more than 3,000 Hong Kong dollars per square foot. Even if Li Jianhui has a lot of assets, he cannot do it.
Such a waste.
What is left is a complex of commercial and residential buildings. However, if this area is developed and sold now, Hutchison Real Estate will undoubtedly lose money because the land price is too high.
After thinking for a long time, Li Jianhui realized that there was really no way to go. No wonder Hutchison Real Estate and even Whampoa Holdings executives were undecided and finally reported that he was here.
“This piece of land will be put aside for now. Hutchison Real Estate is currently focusing on completing existing projects in Xiangjiang and focusing on the Japanese market.
I will discuss with the vegetable company to see what is suitable for planting on this land, and this land will not be developed in a short time."
When Chen Huiya, Li Huidong and others heard this, they understood that Li Jianhui had no choice but to use the development land purchased at a cost of 8 billion Hong Kong dollars to grow vegetables.
This is because Xin Jian has a lot of money, and Hutchison Real Estate raised funds before the stock market crash, so he dared to do this. Those who are rich and willful are people like Li Jianhui.
Seizing the land in Repulse Bay can be said to be a detriment to others and no benefit to oneself. Nanjiang Hui intends to build a wealthy residential area in Repulse Bay like Jinghua Village, Sun Hung Garden, and Cui Zhu Yuan, but it is just because it has not developed it itself.
Due to land use, it has been delayed in implementation.
The result was that Hutchison Real Estate had acquired the land but did not know how to develop it, and Nanjiang Hui wanted to develop the land but had no land. It was impossible for the two parties to cooperate on this due to their relationship.
Now that Li Jianhui has decided, Chen Huiya and Li Huidong have not mentioned it further, and it is most appropriate to shelve it for now.
After a few years, they will decide on the specific development direction of this land based on market conditions. They believe that due to the fifty-hectare limit, both development land prices and property prices will rise significantly in the future.
Especially if Donghua Club is not in a hurry to develop it, the 8 billion won by that time will no longer be an inflated figure, and may even make a huge profit.