We're building a super chaebol in Hong Kong

The recovery of Hong Kong's real estate market brought joy to everyone.

After enduring more than two years, everyone finally saw the light at the end of the tunnel.

In reality, as the impact of the oil crisis gradually faded over these past two years, people's economic conditions had begun to improve.

However, because no one knew what the future of Hong Kong held, especially concerning property deeds, they were afraid to buy, fearing significant repercussions.

Now that the "Joint Declaration" was released, people were finally no longer afraid.

Therefore, a wave of retaliatory consumption arrived.

These people began to enter the real estate market, continuously driving up Hong Kong's housing prices.

Especially with the secret promotion of real estate companies, which had been suppressed for more than two years, the hype intensified.

Hutchison Whampoa Properties, Su's Real Estate Company, Hongkong Land, and other real estate development companies under Su Cheng's banner saw their profits soar.

Although they held many properties primarily for leasing, not all properties were for rent; some were also for sale.

For example, these companies had purchased many government lands and plots over the past two years. Not all of these plots could be used to build commercial buildings; some were also used for residential buildings.

Residential properties are not as easy to rent out as commercial buildings, especially when an entire residential area belongs to the company, making renting out even more challenging.

Moreover, relying solely on rental income would result in low returns and slow capital recovery.

Therefore, selling these properties is very suitable for recovering capital, which enables better development.

Otherwise, it would be like the former Wharf Group, where most of the capital was tied up, resulting in slow capital recovery, low profits, and low stock prices, allowing Li Ka-shing to secretly seize shares and ultimately be successfully acquired by Yue-Kong Pao.

February 20, 1985, was another Spring Festival.

This year, Su's family villa was still bustling with activity.

Almost all the big shots in Hong Kong came to pay their respects.

Even Governor Youde personally visited.

This shows how high Su Cheng's status in Hong Kong is now.

During the New Year, Su Cheng spent most of his time at home with his family, except for visiting the heads of various companies to offer New Year greetings, or talking with visiting tycoons, and his days were very fulfilling.

Entering March, the atmosphere of the Spring Festival gradually dissipated, and everyone went back to doing what they needed to do.

On March 6th, the traditional Chinese Lantern Festival, Su Cheng appeared in the CEO's office of Hutchison Whampoa.

Sitting across from him was the famous "Emperor of Employees" of Hong Kong, Mr. Simon Tooley.

Although most of the reason was still because of Su Cheng, otherwise Hutchison Whampoa could not have achieved its current success.

However, without Tooley, the Hutchison Whampoa Group could not have achieved such accomplishments.

His achievements are also very significant.

Therefore, Su Cheng has always been generous. He has never been stingy with talent. People like Tooley and Yeung Chiu-yee have annual incomes of over 100 million Hong Kong dollars, while others like Chan Chi-pak and Li Yihui earn at least tens of millions of Hong Kong dollars a year.

This is simply impossible for professional managers in other companies in Hong Kong.

Professional managers who have followed Su Cheng for several years are all multi-millionaires, and some even have incomes exceeding 500 million Hong Kong dollars.

You get what you pay for. If the treatment is not good, which talent will keep working for you?

And their income is only a drop in the bucket compared to Su Cheng's income.

This is also the reason why none of these people, who are obviously multi-millionaires, have gone out to start their own businesses.

It is difficult to have such an income in entrepreneurship.

Their income is all legitimate income, and Su Cheng usually knows about any corruption very quickly.

Don't think that Su Cheng usually doesn't seem to care much about the various companies, but in fact, he has planted many informants in each enterprise, and these informants don't know each other's identities.

Su Cheng is most concerned about the finance departments of the various companies. If there is any problem, it can be felt from the finance department first.

"Boss, the Hung Hom CBD project, which has been planned for six years, is finally about to be completed," Tooley said with emotion.

In 1978, Su Cheng successfully acquired Hutchison Whampoa.

Subsequently, with the increase in funds, he had special ideas about the Hutchison Whampoa dockyard site.

In his memory, in another parallel world, Li Ka-shing developed the Hutchison Whampoa dockyard site after acquiring Hutchison Whampoa, and eventually turned it into the famous Whampoa Garden.

Whampoa Garden has a total of 12 phases, of which phases 6 and 8 are shopping malls, and the rest are residential, with a total of 88 residential buildings, 16 stories high, providing a total of 10,431 units, with a total area of 19 hectares.

It can be said that this piece of land is very large.

However, after Su Cheng took the land, he did not have the idea of building it into residential buildings.

In 1981, after long talks with the Hong Kong government, an agreement was finally reached with the government to pay a land premium of HK$230 million, plus a road construction fee of HK$100 million, which finally converted this industrial land into commercial land.

After the nature of the land was successfully changed, Su Cheng later handed over the land to Mr. I.M. Pei for design.

His requirements were very simple, to transform the Hung Hom area into a CBD like Central.

After all, the Hung Hom area is not bad, it is located on the coast of Victoria Harbour, facing Central across the sea, and next to Tsim Sha Tsui.

Next door is the famous Hong Kong Kai Tak Airport, but the new airport has been set, and the new airport will be built on Lantau Island, and relocation is a matter of time.

In addition, the Hutchison Whampoa dockyard is not a航道, and will not be affected by height restrictions.

Tsim Sha Tsui and Hung Hom themselves have many high-rise buildings, so building a CBD here will not have any impact.

After the design by Mr. Pei and his team, the design drawing of Hung Hom CBD came out at the end of 1981.

This design plan was supported by the then Governor Murray MacLehose.

During the real estate crisis, Su Cheng also specifically acquired several plots of land near Hung Hom, and eventually the land he controlled reached 50 hectares.

That is a full 0.5 square kilometers. In the southern part of the Kowloon Peninsula in Hong Kong, where land is scarce, the value of this piece of land is immeasurable.

Among them, one piece of land was bought from Li Ka-shing, which is the site of Green Island Cement.

Originally, Li Ka-shing was unwilling to give up, he felt that it would be better to develop it himself.

However, later Su Cheng increased the land price, and Green Island Cement also had to relocate, so in the end, Li Ka-shing sold the land to Su Cheng reluctantly, considering Su Cheng's face.

Therefore, Su Cheng has connected the land near Tsim Sha Tsui in Hung Hom, forming a large connected land.

Even these lands include a small part of the Tsim Sha Tsui land.

Due to its considerable size, the Hung Hom CBD was ultimately divided into five phases of construction, with a total plan for 45 skyscrapers ranging from 120 to 260 meters in height. In addition, there would be a 388-meter-tall skyscraper and a comprehensive commercial building covering an area of 3 hectares, with a total investment of up to 45 billion Hong Kong dollars.

It can be said that if this plan succeeds, it will be invaluable.

At the same time, it will also improve the city skyline of Hong Kong.

Now, the first phase of 9 skyscrapers has finally been completed!

This is indeed news worth celebrating.

"While we have time today, let's go and inspect it!" Su Cheng said with a smile.

"Boss, that's exactly what I was thinking!" Wei Li nodded and smiled.

This is a very spectacular plan, and it has also received the support of the Hong Kong government, so everything from planning to construction has been very smooth.

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For the Hong Kong government, Su Cheng spent a lot of money to turn these industrial lands into commercial lands.

For the sake of money, the Hong Kong government will naturally strongly support it.

It is not very far from Tseung Kwan O to Hung Hom. Now, Tseung Kwan O has opened up the Ma Wu Shan tunnel between Tseung Kwan O and Kwun Tong, making travel more convenient and time-saving.

A motorcade departed from the Tseung Kwan O headquarters base and, after a 20-minute journey, finally arrived at the first phase of the Hung Hom CBD project.

Here, it was originally the site of the Whampoa Dockyard.

When Su Cheng got out of the car, he immediately saw 9 high-rise buildings standing in front of him.

More than 100 meters high, more than 200 meters high, each building has a different height. This kind of staggered design makes it look more beautiful.

If the high-rise buildings are designed to be almost the same height, then this beauty will be greatly reduced.

"Boss, this is our planning map." Wei Li handed a planning map to Su Cheng, allowing him to refer to the planning map.

Su Cheng nodded, took the planning map, and compared it with the real scene.

Each building has a unique name, and they are very poetic.

Cloud Top Mansion: "Cloud Top" symbolizes the towering nature of skyscrapers, while "Majesty" conveys an atmosphere of nobility and luxury.

Sky Splendor Mansion: "Skyline" directly refers to the height of the skyscraper, while "Splendor" represents the gorgeousness and colorfulness of the building.

Star Brilliance Tower: The "Star Brilliance" is used to compare the skyscraper to a star shining in the night sky, while "Tower" emphasizes its identity as a landmark building.

Prosperous Age Mansion: "Prosperous Age" represents a prosperous and flourishing era, while "Jing Xuan" implies the exquisiteness and elegance of the building.

Soaring Emerald Pavilion: "Soaring" expresses the towering and majestic characteristics of the skyscraper, while "Emerald Pavilion" adds a touch of nature and freshness.

Wind Riding Pavilion: "Wind Riding" symbolizes the skyscraper's uprightness and stability in the wind, while "Xuanyu" emphasizes its magnificent and spacious sense of space.

Auspicious Peak Mansion: "Auspicious" implies auspicious and beautiful scenery, while "Peak" directly points to the supreme position of the skyscraper in the city.

Glorious Heavenly Tower: "Glorious" conveys the magnificence and splendor of the skyscraper, while "Heavenly Tower" symbolizes the palace in the sky, implying the nobility and extraordinariness of the building.

Dream Cloud Court: "Dream" represents people's beautiful yearning for the future, while "Cloud Court" implies that the skyscraper is like a courtyard above the clouds, a place full of dreams and hopes.

The 9 buildings stand tall, facing the buildings on the opposite Hong Kong Island.

On the Central side, the 556.6-meter-high Hong Kong World Trade Building, the tallest building in the world, has been completed for many days, which has greatly improved the appearance of Central.

As for the other buildings in Central, to be honest, the first phase of 9 buildings in Hung Hom CBD is not inferior to Central, and some are even better.

Since successfully acquiring Hongkong Land, Su Cheng has actually become the largest landlord in Central.

These are the grand designs built by Jardine Matheson and Hongkong Land in the past, which ultimately benefited Su Cheng.

Now, diagonally opposite Central, a new financial and business district is being built again.

The most prosperous and core areas of Hong Kong can be said to be almost controlled by Su Cheng.

Such a thing is unimaginable for others. Even the former Hongkong Land could not do this.

However, Su Cheng did it.

Not only that, Su Cheng also owns a large number of properties in prosperous places such as Causeway Bay, Wan Chai, and Tsim Sha Tsui.

These properties were bought by Su Cheng's subsidiaries when they seized the opportunity during the real estate crisis.

Faced with the crisis, many people were worried and afraid, but Su Cheng was not afraid at all.

Buying is his strategy to deal with the crisis.

Putting down the design drawing, Su Cheng said with a smile: "Let's go, let's visit it. Let's go to the Star Brilliance Tower."

This building is 236 meters high and is also the tallest of the 9 buildings. Several buildings around it are built around it like guards.

Therefore, this building can also be regarded as a landmark building of the Star Brilliance Tower.

Of course, after all five phases are developed, the Star Brilliance Tower will appear slightly ordinary. The 388-meter-high skyscraper is the landmark building of the Hung Hom CBD and will be in the center of this 50-hectare site.

Adjacent to this skyscraper is a 3-hectare super shopping mall, which Su Cheng plans to build into a commercial landmark comparable to Harbour City.

As for whether this super shopping mall will be as profitable as Harbour City in the future, it cannot be determined yet and will have to wait until it is completed to find out.

According to the plan, the development cycle of Hung Hom CBD will last for 15 years and is expected to be officially completed by 1996.

Although the time is still far away, if we don't start construction, who can predict the future results!

The Star Brilliance Tower has 70 floors above ground and 5 floors underground.

Taking the elevator of the Star Brilliance Tower, we soon arrived at the top floor, above the 70th floor.

This building has now been completed and is also the tallest building in the entire Kowloon Peninsula. Although it cannot be compared with the tallest building in Central on the opposite side, it is also one of the top five tallest buildings in Hong Kong.

Therefore, standing on the 70th floor is enough to overlook the entire Hong Kong urban area, magnificent and shocking.

"Good, very good!" After inspecting it, Su Cheng exclaimed.

Another landmark building that completely belongs to him was born.

(End of this chapter)