The birth of the Hong Kong Island family

It’s already July when I return to Hong Kong.

In early October, the reconstruction project of the Chinese People's Bank of China Building started, and Lin Zhichao and Shen Bi attended the groundbreaking ceremony.

The former site of this building was sold to a company formed by Cheung Kong Group and HSBC Bank at a price of 200 million at the beginning of this year. Subsequently, the two parties worked together to rebuild the China Bank Comprehensive Commercial Building as quickly as possible.

The new Chinatown Building covers an area of ​​240,000 square feet and is 22 stories high. The exterior walls are made of stainless steel and glass that changes in color with the weather. Indoor temperature, humidity, lighting, and fire protection facilities are all controlled by computers. The interior decoration will be luxurious and elegant, integrating ethnic style and modern flavor. The entire project cost HK$200 million. All office buildings and commercial shops were rented out, leaving only a portion of the area for HSBC Bank to serve as its temporary headquarters.

The Xinhua People's Bank of China Building is expected to start in 24 months, and the construction speed is very fast. It is expected to be topped out in 12 to 16 months. The reason for this is that the HSBC Building will be demolished and rebuilt in the early 1980s, and the Chinese Bank Building will serve as the temporary headquarters of HSBC.

Lin Zhichao sold half of the ownership of the Xinhua People's Bank of China Building to HSBC purely out of commercial considerations. First of all, Cheung Kong Group will make a net profit of about HK$50 million from the sale of the old site of the Chinese People's Bank of China Building; secondly, the construction cost of rebuilding the Chinese People's Bank of China Building will be as high as HK$200 million, and the new company will complete it entirely through loans, without any investment from Cheung Kong Group. money.

Lin Zhichao made some calculations. After the completion of the Chinese People's Bank of China Building, the rent of Grade A office buildings in Central will be as high as about 15 Hong Kong dollars per square foot. By 1981, it could be as high as 20 Hong Kong dollars per square foot. The annual rental income is about HK$50 million (shop rent is more expensive), which is enough to repay construction fees and interest.

at the groundbreaking ceremony.

Lin Zhichao and Shen Bi chatted happily and attracted the attention of many media people. Hong Kong citizens all know that Universal Group and HSBC are mutually beneficial. In the early years, HSBC supported Universal Group, and later Universal Group gave back to HSBC. The same relationship exists between Lin Zhichao and Sandus.

After the ribbon-cutting ceremony, Shen Bi said: "Poly Construction is a first-class construction company in Hong Kong. It has built first-class buildings such as Victoria Harbor Center and Shangri-La Hotel. I am very much looking forward to the completion of the Chinatown Building this time."

Although the Chinese Building is only 240,000 square feet and 22 stories high, it costs as much as HK$200 million. You know, the construction cost of the 52-story Victoria Harbor Center is just over HK$150 million.

Of course, the reason for this is not only the increase in luxury and the deep wealth of HSBC, but also the soaring prices. Victoria Harbor Center and Shangri-La Hotel were both built in the early 1970s. Over the years, labor and material costs in Hong Kong have increased by more than 50%.

Lin Zhichao said confidently: "Poly Construction is not only a first-class construction company in Hong Kong, but also has a place in the world. We have undertaken large-scale projects in Singapore, Malaysia and other places, including Raffles City in Singapore. If the HSBC Bank Building is rebuilt in the future , we also hope to participate in the bidding!”

Shen Bi smiled and said, "Welcome!"

Lin Zhichao knew that even though Shen Bi said so, Poly Construction would still be at a disadvantage if it participated in the bidding. The British are relatively arrogant and will not completely trust Chinese construction companies unless Poly Construction recruits well-known European construction companies and then participates in the bidding together. Lin Zhichao can accept this, after all, this is the owner's need.

Returning to the Yangtze River Industrial Group, Lin Zhichao asked Huang Changhong to bring the official land information taken in the first half of this year.

"Boss, in the first half of this year, the Hong Kong government auctioned a total of 15 sites, totaling 228,000 square feet, with a total auction price of HK$160 million. We have won a total of three sites, with a total price of HK$38 million. There is currently no landfill in Tsim Sha Tsui East. The auction of the Haitian section." Huang Changhong reported seriously.

At present, Lin Zhichao is too lazy to participate in the filming in person, leaving it to Huang Changhong as his deputy, and taking the young general Zhou Huai'an with him.

Looking at the three pieces of land information that he took, Lin Zhichao soon had an idea.

The Hong Kong government is not stupid. In terms of looking at the real estate cycle, it is not inferior to the shrewd real estate developers. Therefore, they always acquire land when real estate is booming. The more prosperous the land, the higher the quantity and quality of the land they offer.

Assume that the Hong Kong government's land sales this year are HK$400 million, then next year (1977) it may reach HK$1 billion, and the year after that (1978) it may reach HK$3 billion. If real estate plummets, the Hong Kong government will stop land auctions and wait for real estate to pick up.

Lin Zhichao said: "Keep this intensity and continue to insist on obtaining land at official land auctions. These two or three years will be opportunities."

Huang Changhong nodded and said: "Well, since the second half of 1974, we have bought many properties at the bottom, and now their values ​​have appreciated a lot. At present, our Changshi Group is still the well-deserved leader in the field of real estate development."

Real estate companies that were able to buy the bottom from 1974 to 1976 can become influential real estate companies after this round of development. If you get one cycle right, a real estate company can move up a level; if you get two cycles right, a real estate company can become one of the top ten real estate companies; if you get three or four cycles right, it will be at the level of Hong Kong's "four major families."

There are thousands of real estate companies in Hong Kong, but why are only a few successful in the end? When it comes to real estate expertise, who among us doesn’t have it? But in the end, you have to look at your vision. If you misread the situation once, you will fall behind.

Lin Zhichao came to Kowloon Tong and came to Zhang Bingqian's house with familiar faces.

Zhang Bingqian was also a familiar host and asked Guan Jiahui and her brother to talk to Lin Zhichao while she was busy with dinner.

Over the past two years, everyone has formed a tacit understanding. Lin Zhichao took the initiative to visit Zhang Bingqian, mother and son, and Zhang Bingqian gradually understood some things. Lin Zhichao abides by a gentleman's demeanor, and Zhang Bingqian also needs help in her life.

At the same time, after meeting Guan Shan two years ago, Lin Zhichao stopped contacting him. He just told Golden Harvest Films to take care of Guan Shan if there was a suitable role for him, but he must not show favoritism.

"Lin Sheng, can you give me some work to do?" Guan Jiahui sat next to Lin Zhichao and said with wide eyes.

Lin Zhichao looked at her and suddenly felt that she was really a porcelain doll in the world, so beautiful that she could not be compared to anything else. To be honest, in Lin Zhichao's heart, Lin Qingxia, Guan Jiahui, and Li Jiaxin are all the most beautiful beauties in the world.

"Of course not, I won't let you enter the entertainment industry!"

Guan Jiahui blushed, and then muttered: "If you don't let me in, I can find my father in the future. His status in the entertainment industry can always take care of me."

Lin Zhichao smiled and said, "Why do you have to enter the entertainment industry?"

Kwan Jiahui said: "Of course it's about making money! My biggest dream is to be a rich man and then be free from all worries."

‘Pfft’ Lin Zhichao couldn’t help laughing. He thought this girl was really cute.

Of course he doesn't think there is anything wrong with Guan Jiahui's thinking. After all, Lin Zhichao is already rich, so why doesn't he like 'girls who like money'? Just like those pretty girls, don't they like 'men who like beautiful women'?

"Why are you laughing! Yes, of course you can laugh, because you are as rich as the rest of the world. You don't have to worry about life, and you don't have to worry about running out of money. Just because you are so rich, you don't understand what we think." Guan Jiahui said angrily Said drum.

From this point of view, after many contacts, she has become familiar with Lin Zhichao.

Lin Zhichao said: "Okay, your family is much better than many ordinary families outside. They don't have such a spacious house, and the girls in the family can't dress up as beautifully as you. You should have a calm mind. I always think It will help your family.”

After Guan Jiahui listened, she said honestly: "Thank you!"

She didn't know why Lin Zhichao helped them, but she had a good impression of Lin Zhichao. This man who looked like a big brother would always help them at critical moments and would also communicate with her seriously.

After a while, Zhang Bingqian served dinner and the four of them enjoyed it.

Lin Zhishenshan would not doubt that others would harm him. Apart from occasionally giving Zhang Bingqian a sum of money to ensure the living needs of the three of them, mother and son, there was nothing he could do beyond that.

"Lin Sheng, you are not very familiar with Guan Shan, are you?" Zhang Bingqian said suddenly.

Lin Zhichao was stunned for a moment, then nodded and said: "Actually, I wanted to make him a friend at first, but when I visited you for the first time, I felt that he was not suitable for being a friend and was too irresponsible to you. Instead, we You guys are starting to get familiar with each other.”

The words were perfect, but Lin Zhichao actually did this.

Next, Zhang Bingqian said: "Lin Sheng, I want to divorce Guan Shan and immigrate to the United States with Shihua. Can you help me!"

Guan Jiahui was stunned, and then she was so anxious that tears fell down and she said, "Mom, how can you ignore me?"

Zhang Bingqian immediately comforted her daughter and said: "Jiahui, you have to live in Hong Kong, after all, you are already so old. Besides, I hope Mr. Lin can take care of you!"

Guan Jiahui looked at Lin Zhichao and then at Zhang Bingqian, wondering what this meant!

Lin Zhichao said: "There is no room for relaxation in your relationship with Guan Shan?"

Zhang Bingqian nodded and said: "He is not a responsible man. He leaves us, mother and son, alone. I'm fed up with this kind of life. Every day is a torment. I'm afraid one day I'll be like Lin Dai."

This matter is no longer something Lin Zhichao can get involved in. He originally thought that Zhang Bingqian and Guan Shan would reconcile again, after all, it would not affect his future work.

"I won't care about these things, but if you go abroad to live, I can give you a sum of money so that you can live a normal life abroad. As for Jiahui, I will visit her regularly to ensure that she will not be bullied. .”

Upon hearing this, Zhang Bingqian immediately motioned to her sister and brother to go to the room to escape. Guan Jiahui reluctantly took her brother back to the room.

After that, she said, "Does Lin Sheng like Jiahui?"

Lin Zhichao almost stopped, and then said seriously: "Miss Zhang, don't talk about this kind of thing now. Although I am romantic, I will never do anything that makes others difficult. I will tell you the answer in a few years. However, I will definitely take good care of it. Jiahui’s, and will also give you some help.”

Zhang Bingqian said with a smile: "To be honest, after getting along with you for so long, I definitely believe in your character, otherwise I wouldn't trust you to take care of Jiahui."

In fact, it was Lin Zhichao's character and magnanimity that impressed her, otherwise she would not have agreed to push her daughter into the fire pit. If it were any other rich man, she would never agree to contact him, he was sure of this.

Lin Zhichao said: "Yeah"

After a while, Zhang Bingqian took the bowl to wash and asked Guan Jiahui to talk to Lin Zhichao.

"From now on, if you need anything, come to me. I will be your biggest support!"

Guan Jiahui blushed. She seemed to know something and whispered: "Yeah."

Lin Zhichao also said: "If you can get into college, I wouldn't mind giving you a company!"

Guan Jiahui opened her eyes wide, and then said pessimistically: "There is no hope!"

Lin Zhichao smiled and said, "Just pretend I didn't say anything!"

"How can you pretend you didn't say it? What if a miracle happens?"

"Well, that's valid at any time."

After a brief chat, Lin Zhichao stood up and left, leaving Guan Jiahui with a look of reluctance.

That night, Zhang Bingqian enlightened Guan Jiahui a lot, but she did not mention Lin Zhichao's thoughts. She believed in Lin Zhichao's character and would respect her daughter in everything. Some people are like this, making people feel reassured at a glance.

On this day, Lin Zhichao decided to inspect some sites regardless of the scorching summer heat.

In the 1950s and early 1960s, Lin Zhichao always insisted on inspecting construction sites, inspecting each building two or three times. As his business grew larger and his management system matured, he also patrolled fewer construction sites, and some The small site was not even visited until it was completed.

Lin Zhichao inspected the site today, and he only inspected a few large sites. I originally wanted to start with the Sha Tin reclamation project, but when I thought about it, I found that this site was managed by Lee Shau Kee and was not a project of Cheung Kong Group at all, even though it held 25% of the shares.

The Shatin reclamation project involves reclaiming a total of 6 million square feet of land, of which 4.3 million square feet will be handed over to the Hong Kong government, and the remaining 1.7 million square feet will belong to four real estate joint ventures. Tens of thousands of residential units can be built on this 1.7 million square foot site, which will be sold in installments in the 1980s.

Regarding the Shatin project, Lin Zhichao did not participate at all and only shared the profits. Even if it is the shopping mall part, it can be disposed of at will by the partners, and he will not buy it to collect rent.

Lin Zhichao's first stop came to the Saixi Lake site.

"Boss, these ten 24-story high-end residential buildings will be available for sale in installments by the end of the year! By then, we plan for users to purchase the buildings, and each unit will be allocated a parking space." Accompanying Lin Zhichao was none other than the popular CEO. Zhou Huaian, an executive of the Real Group, introduced to Lin Zhichao at this time.

Lin Zhichao, wearing a safety helmet, walked to the site and said with a smile: "Giving a parking space costs a lot of money, but the Saixi Lake site is large enough, but it is a good publicity."

Zhou Huaian is the planner of this project. He said: "Well, we think so too. In addition to parking spaces, Saixi Lake is located in a famous scenic spot. We also have a large-scale activity venue integrating entertainment, sports and leisure." , full of temptation.”

Lin Zhichao nodded and said: "According to the past real estate cycle, real estate will definitely appreciate by more than 30% in one year. This site seems to be very profitable."

The entire Saixi Lake has a total floor area of ​​1.3 million square feet. It is estimated that the sales per square foot can reach HK$300 per square foot, which means the sales volume will be HK$390 million. The land price is HK$85 million, the construction fee is about HK$150 million, and the total cost is about HK$250 million.

Calculated in this way, Cheung Kong Group and Canadian Imperial Bank of Commerce each hold 50% equity, and each can earn more than 70 million in profits.

A very profitable project!

After all, Sun Hung Kai's annual profit is only HK$70-90 million. Of course, the Saixi Lake site is expected to be sold within two years.

Next, Lin Zhichao inspected the former site of British American Tobacco Company - Elizabeth Building and Locke Building. Among them, the Elizabeth Building is a five-story commercial building base with three ABC residential towers above; the Locke Building is a 30-story office building.

Cheung Kong Group holds 35% of the shares in this project, while the other 65% is shared between Sun Hung Kai, Henderson Land Development and New World Development. The entire project is for sale, including the office building, Locke Tower.

At this time, Lin Zhichao didn't like ordinary commercial buildings very much, not to mention that he couldn't all handle rent collection, which would cause problems with capital turnover. Rent-collecting properties generally pay back their capital in seven or eight years, while developing real estate only takes two or three years to fully pay back their capital, and is very profitable.

Elizabeth Building and Locke Building are expected to earn more than 100 million Hong Kong dollars, and Cheung Kong Group can share profits of 35 to 40 million Hong Kong dollars.

Finally, Lin Zhichao came to site No. 1 in Taikoo Valley, and his father-in-law Tang Zhongyuan also made an appointment.

"Father-in-law, I've been waiting for a long time!"

"I have just arrived. Besides, I often come to inspect this site of 'Oriental New Village' to accumulate richer experience!"

Just by listening to the name, you know that this site is led by Oriental Properties and guided by Cheung Kong Holdings. On this site of more than 200,000 square feet, a total of 12 'diamond-shaped' residential buildings with 28 to 32 floors will be built, with a total of 2,800 small and medium-sized units (480 to 750 square feet).

The 12 buildings are arranged neatly, with five buildings on the east and west, two buildings on the south, and the gate on the north. The twelve buildings form a square, with public facilities in the middle, including children's playgrounds, tennis courts, gardens, etc.

The density of the entire community is still very good.

"Father-in-law, when do you plan to sell this property?"

Tang Zhongyuan said: "How about pre-sale this year?"

Lin Zhichao did not object, but said: "House prices may increase by no less than three times in the next five years. This is based on my years of experience and speculation based on the real estate cycle."

Tang Zhongyuan immediately said: "Then we will pre-sell next year and the sales will be completed in more than three years."

Of course he believed in his son-in-law. He was neither stupid nor stubborn. If his son-in-law was almost thirty years old, he would never find that his son-in-law had misread the situation.

The current price in this area can only be sold for 260 Hong Kong dollars per square foot. If it can be tripled, it can rise to a little more than 800 Hong Kong dollars per square foot.

Taking into account the rotation of goods and the risk, there is no problem in selling in four-year installments. In this way, the average sales unit price can reach HK$500 per square foot. The total is 1.6 million square feet, with a selling price of up to HK$800 million.

The purchase of this land only cost 50 million Hong Kong dollars, which is very cheap. The total profit may reach about 500 million Hong Kong dollars.

Lin Zhichao nodded and said: "This is more reasonable, after all, we are not very poor in money!"

Lin Zhichao sold out the Saixi Lake site in more than a year, so he didn’t want to take too long to prepare. After all, his partner was the Canadian Imperial Bank of Commerce. As for the Oriental New Village site, the partner is his father-in-law, so we can consider a longer cycle and more profits.

Next, Tang Zhongyuan said: "Zhichao, Oriental Real Estate has formed a financial company and plans to provide mortgage services for this project."

Lin Zhichao smiled and said: "No problem, I fully support you doing this!"

At this time, bank interest rates were low and real estate could earn more profits. It was understandable and a good thing for Tang Zhongyuan to do this. This project was originally intended to allow Oriental Properties to learn from the experience of "large private housing estates" and better develop the Discovery Bay project in the future.

Tang Zhongyuan said with a smile: "With this project as an opportunity, we at Oriental Real Estate can finally become a truly large real estate company in Hong Kong, and the Discovery Bay project is even more certain."

Lin Zhichao nodded and said, "I think so too!"

The infrastructure part of the Discovery Bay project has already started. Hong Kong Industrial Company, a company cooperating with both parties, will invest HKD 600 million in the infrastructure project of Discovery Bay in the future. It will initially invest HKD 50 million in cash, and then rely on banks to support the project. .

Soon, the golf club and yacht pier in Discovery Bay will be completed, and Hong Kong will have another high-end leisure place.

After Lin Zhichao finished his inspection that day, he couldn't help but think about some questions.

We have to do big projects to make more money. In the future, Changshi Group will do more big projects. This will not only make more money, but also improve the company's influence and credibility.