The Industrial Giant Reborn

Hong Kong, Hutchison Building Headquarters:

"Chen Sheng. This is the progress and funding details of the recent Huangpu Garden project. You can take a look first." Zhou Jiayang prepared these materials early in the morning.

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

Whampoa Garden is currently one of the most important projects under Hutchison Whampoa. A large amount of mobilizable funds have been invested in the entire group company, with the purpose of converting the value of this piece of land into liquid funds as soon as possible.

The entire Whampoa 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 buildings with about 3,500 households. Although real estate development can use bank funds, Chen Zhiwen also met with Shen Bi specifically. Bute promised to help, but there were many restrictions. The whole of Hong Kong had just gone through the real estate risk period, and the big banks were still relatively strict in risk control, especially Hutchison itself was heavily indebted.

Although other small banks are not so strict in risk control, their capital is insufficient. Hutchison also cooperates with some of these banks, but the main force is HSBC, Standard Chartered, East Asia, Hang Seng and other large banks.

It’s just that the investment in the Whampoa Garden community is not much smaller than that of Wharf’s Harbor City. Chen Zhiwen has also realized the current difficulties of Jardine, and this is still under the circumstances that other overseas businesses can support.

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. The financial pressure of the project can be solved smoothly.

"According to the current speed, we will be able to pre-sell in 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 is built. This is not much shorter for the construction speed of the floors of the community. As long as the main building starts to be built, it will basically be fast.

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

In the history of real estate in Hong Kong, the four surrounding villages can definitely be said to have a pivotal position. The few super commercial office buildings that can compete with them are the few super commercial office buildings, such as the later Exchange Square, the International Financial Center Building, etc. Although surrounded Village projects are not held for a long time like large office buildings, which can bring long-term and stable income to the holders, but in the short term, it can bring very large profits, which are as large as the income of a super-walled village project, which can easily Bought several buildings in Central.

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

"No problem, we have always attached great importance to quality, and specially invited a tripartite organization in Japan 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: "In addition to Huangpu Garden, Hutchison is currently mainly developing land in cooperation with Huazi Real Estate, and it is mainly Li Jiacheng's Cheung Kong Industrial. Considering that the debt is improving now, should we continue to develop land? To cooperate with Li Jiacheng?"

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

In the 1970s and 1980s, the Huazi real estate companies in Hong Kong can be said to be a crowd of heroes. People from all walks of life came to the stage. Everyone who can rise has his own vision, resources, courage, and opportunities. Because of this, Chen Zhiwen is very happy Cooperate with them to develop a bunch of non-core land under Hutchison.

Although they were able to profit from it, Hutchison also took at least half of the profits and did not need to advance any funds.

If you only look at the real estate market, He Huang will lose money by doing this. After all, these lands can be doubled 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 In your hands, as long as you seize an opportunity, it will be much more valuable than 1 billion Hong Kong dollars ten years later.

Of course, a better location is reserved for the old man of his own family, or his own Galaxy Real Estate to develop together. With the recovery of the Hong Kong real estate market, whether it is Hutchison, Galaxy, Hengyi, existing self-owned properties or properties to be developed Land properties have increased to a certain extent, so that more funds can be borrowed from the bank to develop projects.

Non-stop circulation, non-stop borrowing, and non-stop development are the eternal routines of Hong Kong real estate companies. As long as the real estate market keeps rising, the profits obtained will far exceed the appreciation brought by the properties they own.

However, the bank 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 a good bank relationship and can lend a lot from the Canadian Imperial Bank In this case, Hutchison can also convert its vacant land into cash earlier.

And these cash will soon be of great use.

"Okay, on the retail side, after the last time our talks with Newbike collapsed, both of us began to compete for the shops that can be used to open supermarkets in the real estate market, but judging from the recent trends, Jardine seems to choose Instead of focusing on leasing, they gave up buying shops." Zhou Jiayang Youhui reported.

"Oh, Hong Kong Land actually gave up holding the property. It seems that the problem of the Jardine Department is much more serious than we imagined." Chen Zhiwen said with a smile.

Although you don’t need to buy property yourself to be a supermarket, most supermarkets in the world are mainly leased, but with the characteristics of holding commercial real estate, Hongkong Land actually gave up the acquisition of all the real estate of the supermarket. It went smoothly.

"It is indeed possible. Hongkong Land's central district reconstruction plan has been suspended a lot. It did not stop during the worst real estate crisis in 1973 and 1974, but now it has stopped." Zhou Jiayang analyzed.

"Then we have to beat the dogs in the water even more. In addition to continuing to acquire properties, we have to snatch their supermarkets directly from Landmark." Chen Zhiwen went on to say: "Let's spend it like this first, and see if no one can handle it. "

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

Ask for a monthly pass