Chapter 589: [Almost done a stupid thing! 】
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Chapter 589 【Almost done a stupid thing! 】
September 1976, Hong Kong Island.
As soon as Wu Guangyao returned from the United States, the media broke the news that the Hong Kong MTR Corporation would build a high-altitude development right over the station;
For a time, the press began to hype the matter.
The Hong Kong Mass Transit Railway Corporation was established in February 1975, and the first phase of the project started in June of the same year;
The entire subway project is the largest public project in Hong Kong since the opening of the port. The entire project is planned to be completed in 8 years and is expected to cost 21 billion Hong Kong dollars;
The first phase of the Mass Transit Railway project, from Kwun Tong, Kowloon, through the submarine tunnel to the Central Ring of Hong Kong Island, is 15.6 kilometers in length, has 15 stations, and is estimated to cost 5.5 billion Hong Kong dollars.
There are three sources of funds for the subway project:
First, the Hong Kong government provides guarantees to obtain various types of long-term loans from banks;
Secondly, the subway company goes public and raises funds by selling shares on the stock market;
Third, the subway company and the real estate company jointly develop the property on the station, and the profit obtained.
Wu Guangyao became hot after hearing the news.
Why?
It turned out that as far as Wu Guangyao knew, the station development rights for the first tender were Central Station and Admiralty Station;
Central Station is the end/start of the first section of the subway. It is located in the most prosperous banking district in Hong Kong, at the intersection of Pedder Street and Chater Street;
The Lane Crawford Building of the Wu family and the Chater Building of the Landmark are on both sides of the road on the east side of this platform.
Admiralty Station is the first battle through the Cross-Harbour Tunnel. It is also a transit station for the East Branch of Hong Kong Island. Nearby are the Hong Kong Government Offices, Supreme Court, Naval Headquarters, Police Headquarters, Red Cross, Heritage Museum and other famous buildings. The administrative area is close at hand.
Gu Some people say that the Central and Admiralty stations are like two thighs of a chicken, with high-altitude development rights above them, and they will get the most lucrative profits. Gu's real estate developers are all "desperately imaginative."
Naturally, Wu Guangyao is also very ‘full-fledged’, and even more!
In the past life, the Global Building on the Central Ring Road, in the 21st century, Li Chaoren only sold 80% of the development rights and made a profit of 40 billion Hong Kong dollars;
In other words, this building is worth 50 billion Hong Kong dollars!
This money can buy dozens of Wanda Plazas.
Furthermore, Wu Guangyao knew that in two or three years, he could persuade the Hong Kong government to erect a pedestrian bridge in the core area of Central;
There is no hope for the buildings on Queen’s Road, but the buildings at Central Station are definitely promising;
At that time, the five buildings of Hongkong Land will be connected to the pedestrian bridge, and Wu Guangyao will have seven buildings which can be connected.
Central’s ‘Natural Heart’, how can Land Land’s turn be no more!
It's quiet at night, and the cold wind is slowly!
Li Chaoren was walking in the garden of a villa in Deep Water Bay, unwilling to watch the moonlight before the flowers, but walking back and forth, lost in thought;
The development right over the subway station has caused Li Chaoren to sleep and eat for days.
"Nowadays, the right to develop the subway is a big thing I must do! Otherwise, I will always be just a country real estate developer in the eyes of others, and a real estate developer who can't be on the stage!" Li Chaoren said to himself.
However, as the land price in the central area is rising day by day, the land price per square foot has exceeded 10,000 Hong Kong dollars, which is the most expensive place in the world;
A lot of official land can cost hundreds of millions of Hong Kong dollars, or even more than one billion Hong Kong dollars. Non-Huanghe Industrial’s financial resources dare to participate in the bidding!
Don’t dare to participate, it doesn’t mean you don’t dare to expect. It is what Li Chaoren dreams of to build development rights in Zhonghuan!
“You don’t have to hesitate any more, competition is fighting for life, but also fighting for wits. If you don’t even have this courage, talk about how to establish a foothold in the market, talk about surpassing Land, let alone surpassing Cheung Kong!”
Make up his mind, Li Chaoren strode back home, sat in the study, and looked through the relevant subway materials he brought back.
Know yourself and the enemy before you can win every battle!
Changjiang Building
Wu Guangyao summoned the Big Three to discuss countermeasures. At this time, although the Big Three had separated, the boss was still one after all;
So, what big moves Wu Guangyao has in real estate, the first thing that comes to mind is to invite three people to his office to discuss.
Wu Guangyao said: "Who do you think is our biggest opponent?"
The answers of the three people all point to the Land Company. Obviously, in their minds, only Jardine International Co., Ltd. can be called a rival on Hong Kong Island.
At this time, New Bijian is the Jardine Matheson and also serves as the Landlord's Major;
New Bijian has no background. He has participated in the work of Jardine Matheson since he was 20 years old and climbed to the position of chairman of the board of directors step by step;
Therefore, a person like Newbiejian has a better overall strength than Henry Keswick!
Wu Guangyao did not mention it. In fact, Cheung Kong's opponent should be a businessman you never even thought of;
Although Li Chaoren has been robbed of a lot of opportunities by Wu Guangyao over the years, it does not mean that he has no strength to get involved in this tender;
It's very simple. Big projects have not been done, Li Chaoren has done a lot of small projects, and his net worth is several hundred million Hong Kong dollars;
Importantly, Li Chaoren is good at pumping water from the stock market (funding). Huanghe Industrial is listed in London and Toronto and can raise funds through fund-raising;
What's more, Li Chaoren also cooperates with Canadian banks, and loans are not a problem.
In fact, Li Chaoren is more than qualified to participate in this kind of bidding. At present, there are at least ten Chinese-funded companies that have the strength to bid;
After all, a real estate project can be started with loans and fund-raising;
The premise is that your reputation is good enough!
As for Central Station and Admiralty Station to build properties, it is a ‘earning for money’ business;
As long as you come up with enough conditions to impress the subway company, you can naturally do it for you!
Seeing that Wu Guangyao did not agree with everyone, Shi Jun said: "Does the boss have a different opinion?"
Wu Guangyao said: "Although Niubijian is also the big class of the two major companies, it is subject to the constraints of the Keswick family; and the Keswick family focuses on overseas development. This will inevitably disperse Niubijian from Hong Kong. This time, the Land Company may not be able to offer the conditions to impress the MTR Corporation!"
The three of them listened and thought about it;
For a long time, Li Xing sighed: "The boss’s insight ability makes us ashamed! Indeed, these are the weaknesses of Land. People are often blindfolded by Land’s “appearingly strong” and think Land is ours. opponent."
After a while, Shi Jun said: "In this way, we seem to have overlooked many opponents! We have been the boss of real estate for more than ten years, and we are also used to calling ourselves the boss of real estate. 'Condescend' to cater to the subway company, I am afraid we are not the best bidder either!"
Wu Guangyao watched everyone finally calm down and finally let out a sigh of relief!
Too arrogant is often the root of failure!
Wu Guangyao said: "First of all, we have to analyze the true intention of the subway company for bidding?"
Be quiet again, everyone is lost in thinking, and the materials that have been consulted beforehand flashed through everyone's mind at this time.
Wu Guangyao analyzed: “The MTR is a public company directly under the Hong Kong government, but a public company in Hong Kong has a feature that the government does not participate in any other operations except for the government’s franchise and concessions.”
Shi Jun added: “In other words, the fund-raising, design and construction, operation and operation of the subway company are all equivalent to private companies and act according to the usual rules of shopping malls.”
Everyone put out their ideas one after another, no matter whether it is useful or not, let them discuss it together.
Li Xing said: "I asked the staff of the Hong Kong Government to inquire that the Works Bureau valued the original site of the Central Post Office (Central Station) at 250 million Hong Kong dollars and the Kowloon Bay Depot site at 350 million Hong Kong dollars. The original prices of the two pieces of land were approved. The subway company, the subway company develops high-altitude properties, and the profits are used for the lack of subway funds!
In order to pay the 600 million Hong Kong dollars, the MTR Corporation has repeatedly discussed with the Works Bureau, and some cash and MTR shares should be used to pay;
However, the Hong Kong government insists on paying in cash! "
After listening to Li Xing’s words, everyone’s eyes lit up!
"Lack of cash! The subway company is short of cash!" Xiu Yanbing raised his voice.
This is a good gap, as long as you think about the bidding around this point, you will definitely win the bid!
Wu Guangyao nodded, everyone finally has a bit of money!
"It's very simple. If anyone says that the high-altitude properties developed in these two places are used for leasing; then, he will definitely not win the bid! At this point, the land company may suffer a loss, and they have always liked to rent but not sell!" Wu Guangyao Said.
In fact, this is not true of Cheung Kong's commercial buildings!
However, the cash flow of Cheung Kong Holdings is obviously many times better than that of Land!
Li Xing went on to say: “At present, the subway company uses high-interest loans to pay for the land, so it is urgently needed to return cash to repay the loan, and hope to get more benefits!”
If you want to return cash immediately, but also want to obtain greater benefits, it is not good to meet the two points at the same time!
Everyone flips through the materials at hand, thinking about countermeasures with distraction!
After a while, Shi Jun said: "On the two sites, we can design and construct first-class commercial complexes; of course, bidders can think of and can achieve this. Therefore, we need to satisfy the subway company. An urgent need for cash.
First, Cheung Kong will use cash as construction costs;
Secondly, to break the previous half-and-half management, the subway company accounted for 52% and we accounted for 48%. "
Shi Jun finished speaking and looked at everyone!
Li Xing and Xiu Yanbing have echoed, agreeing with Shi Jun's point of view!
Although the construction fee is more expensive than the land fee, if the land is auctioned, it will be a large premium;
Therefore, half of the cooperative development projects on Hong Kong Island, and those with land are basically the bosses.
Wu Guangyao began to think, and slowly compared his biggest rival Li Chaoren in his mind, what might he do?
For a long time, Wu Guangyao shook his head, and said: "It's still not tenable!"
"No, boss! This kind of cooperation is already the first case on Hong Kong Island. We have to pay a lot of cash for construction costs; coupled with the concession of sharing, will the MTR hesitate?" Li Xing Said unbelievably.
Generally developing real estate projects, the use of loans is inevitable, and it is inevitable to generate more than 10% of interest every year;
This interest is the expense of the project, so the profits of both parties are naturally less!
Now, Cheung Kong takes all cash as construction costs, which is equivalent to saving a lot of expenses for this project;
Metro companies can also make greater profits!
The second point is about the sharing model. At present, for all real estate project cooperation, the land and construction costs are paid by both parties.
Even 51% and 49% divisions are extremely rare!
Regressed to this point, Wu Guangyao is still worried, and the real estate giants are a bit puzzled!
Wu Guangyao did not explain the reason, but was considering how to make a fuss about Li Chaoren’s bid!
It must have an advantage over Li Chaoren, but it shouldn’t let Cheung Kong Industrial suffer a loss!
What I want is a win-win situation, not a win-win situation!
"Yes!" Wu Guangyao patted the desk fiercely, frightening several people.
The three people also cheered up at the same time. They have been working for the boss for so many years, it is impossible not to worship!
Wu Guangyao said: "Do you think this year's bidding, when will the properties of these two projects be sold?"
Shi Jun quickly said: "The Hong Kong government has new regulations that the property sale period cannot exceed 9 months from the completion time. According to the construction progress of 28 months, it is expected that the two properties can be sold from May to August 1978! "
Wu Guangyao nodded, and said, “According to the subway company’s idea, it must be sold immediately and cash back!”
Everyone nodded, indicating that this is for sure!
"Then, if we add another condition to Shi Jun’s earlier conditions: after the building can be sold, the two buildings will be packaged and sold to Cheung Kong Real Estate at 110% of the market price."
Wu Guangyao finished speaking, and found that the three of them looked at Wu Guangyao, with weird expressions in their eyes!
"What's your opinion?"
Shi Jun said quietly: "Boss, since you just want to buy these two buildings, no matter who wins the bid, you will have to sell it in the end. Can you pack it and buy it?"
Wu Guangyao blushed, and quickly retorted: “Changjiang Industrial has won the bid, can’t it increase its reputation and gain a certain amount of income?”
This reason is indeed very right, but everyone seems to think that the boss should not take it so seriously!
Li Xing said: "110% of the market price is packaged, and you are at a disadvantage, boss! Instead of this, the subway company accounts for 55% of the profit, and our company accounts for 45% of the profit. This is absolutely 100% winning, and no real estate company dares to play like this. ! Moreover, it is better for the listed company Cheung Kong to bear some losses than the boss personally to bear the loss; besides, it was originally the business of Cheung Kong Holdings, and the boss should not be personally at a loss!"
Xiu Yanbing also persuaded: "That is, the boss has not paid the company's fee (salary) for a penny these years. I am afraid that it will cost more than tens of millions of Hong Kong dollars. Cheung Kong Holdings is a listed company. The interests of listed companies are in mind."
Well, although it's a bit awkward!
But everyone’s faces are sincere, let Wu Guangyao relieved!
In fact, Wu Guangyao has two ideas for this bid, so he must win:
First, continue to prevent Li Chaoren from becoming bigger, and control him under the control of Guo Desheng, Li Zhaoji, and Zheng Yutong; even the Hu family of Hehe and the Chen family of Henglong can hang him.
Secondly, Wu Guangyao intends to take down the two buildings on the subway station as the family's fixed assets.
As the saying goes, desire is too strong, so many things have been overlooked!
Fortunately, there is his own Big Three protector, so that it will not make a joke!
If these things are turned out for review in the future, you will definitely find that Wu Guangyao has done a stupid thing!
At the end of September, the Hong Kong MTR Corporation officially announced that it would openly accept the tender for the development right of the General Post Office on December 30.
Three months of preparation time. At one time, the bidding companies frequently contacted the subway company to spy on the subway company's intentions, prepare the bid documents and attachments, and submit them within the deadline.
Public bidding provides companies with a fair opportunity, and the content of the tender is confidential;
Bid winning rule: If you think too much about your own interests, you have little hope of winning the bid; if the conditions are too superior, you have no interest.
The specific grasp depends on whose method is high!
(End of this chapter)
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Chapter 589 【Almost done a stupid thing! 】
September 1976, Hong Kong Island.
As soon as Wu Guangyao returned from the United States, the media broke the news that the Hong Kong MTR Corporation would build a high-altitude development right over the station;
For a time, the press began to hype the matter.
The Hong Kong Mass Transit Railway Corporation was established in February 1975, and the first phase of the project started in June of the same year;
The entire subway project is the largest public project in Hong Kong since the opening of the port. The entire project is planned to be completed in 8 years and is expected to cost 21 billion Hong Kong dollars;
The first phase of the Mass Transit Railway project, from Kwun Tong, Kowloon, through the submarine tunnel to the Central Ring of Hong Kong Island, is 15.6 kilometers in length, has 15 stations, and is estimated to cost 5.5 billion Hong Kong dollars.
There are three sources of funds for the subway project:
First, the Hong Kong government provides guarantees to obtain various types of long-term loans from banks;
Secondly, the subway company goes public and raises funds by selling shares on the stock market;
Third, the subway company and the real estate company jointly develop the property on the station, and the profit obtained.
Wu Guangyao became hot after hearing the news.
Why?
It turned out that as far as Wu Guangyao knew, the station development rights for the first tender were Central Station and Admiralty Station;
Central Station is the end/start of the first section of the subway. It is located in the most prosperous banking district in Hong Kong, at the intersection of Pedder Street and Chater Street;
The Lane Crawford Building of the Wu family and the Chater Building of the Landmark are on both sides of the road on the east side of this platform.
Admiralty Station is the first battle through the Cross-Harbour Tunnel. It is also a transit station for the East Branch of Hong Kong Island. Nearby are the Hong Kong Government Offices, Supreme Court, Naval Headquarters, Police Headquarters, Red Cross, Heritage Museum and other famous buildings. The administrative area is close at hand.
Gu Some people say that the Central and Admiralty stations are like two thighs of a chicken, with high-altitude development rights above them, and they will get the most lucrative profits. Gu's real estate developers are all "desperately imaginative."
Naturally, Wu Guangyao is also very ‘full-fledged’, and even more!
In the past life, the Global Building on the Central Ring Road, in the 21st century, Li Chaoren only sold 80% of the development rights and made a profit of 40 billion Hong Kong dollars;
In other words, this building is worth 50 billion Hong Kong dollars!
This money can buy dozens of Wanda Plazas.
Furthermore, Wu Guangyao knew that in two or three years, he could persuade the Hong Kong government to erect a pedestrian bridge in the core area of Central;
There is no hope for the buildings on Queen’s Road, but the buildings at Central Station are definitely promising;
At that time, the five buildings of Hongkong Land will be connected to the pedestrian bridge, and Wu Guangyao will have seven buildings which can be connected.
Central’s ‘Natural Heart’, how can Land Land’s turn be no more!
It's quiet at night, and the cold wind is slowly!
Li Chaoren was walking in the garden of a villa in Deep Water Bay, unwilling to watch the moonlight before the flowers, but walking back and forth, lost in thought;
The development right over the subway station has caused Li Chaoren to sleep and eat for days.
"Nowadays, the right to develop the subway is a big thing I must do! Otherwise, I will always be just a country real estate developer in the eyes of others, and a real estate developer who can't be on the stage!" Li Chaoren said to himself.
However, as the land price in the central area is rising day by day, the land price per square foot has exceeded 10,000 Hong Kong dollars, which is the most expensive place in the world;
A lot of official land can cost hundreds of millions of Hong Kong dollars, or even more than one billion Hong Kong dollars. Non-Huanghe Industrial’s financial resources dare to participate in the bidding!
Don’t dare to participate, it doesn’t mean you don’t dare to expect. It is what Li Chaoren dreams of to build development rights in Zhonghuan!
“You don’t have to hesitate any more, competition is fighting for life, but also fighting for wits. If you don’t even have this courage, talk about how to establish a foothold in the market, talk about surpassing Land, let alone surpassing Cheung Kong!”
Make up his mind, Li Chaoren strode back home, sat in the study, and looked through the relevant subway materials he brought back.
Know yourself and the enemy before you can win every battle!
Changjiang Building
Wu Guangyao summoned the Big Three to discuss countermeasures. At this time, although the Big Three had separated, the boss was still one after all;
So, what big moves Wu Guangyao has in real estate, the first thing that comes to mind is to invite three people to his office to discuss.
Wu Guangyao said: "Who do you think is our biggest opponent?"
The answers of the three people all point to the Land Company. Obviously, in their minds, only Jardine International Co., Ltd. can be called a rival on Hong Kong Island.
At this time, New Bijian is the Jardine Matheson and also serves as the Landlord's Major;
New Bijian has no background. He has participated in the work of Jardine Matheson since he was 20 years old and climbed to the position of chairman of the board of directors step by step;
Therefore, a person like Newbiejian has a better overall strength than Henry Keswick!
Wu Guangyao did not mention it. In fact, Cheung Kong's opponent should be a businessman you never even thought of;
Although Li Chaoren has been robbed of a lot of opportunities by Wu Guangyao over the years, it does not mean that he has no strength to get involved in this tender;
It's very simple. Big projects have not been done, Li Chaoren has done a lot of small projects, and his net worth is several hundred million Hong Kong dollars;
Importantly, Li Chaoren is good at pumping water from the stock market (funding). Huanghe Industrial is listed in London and Toronto and can raise funds through fund-raising;
What's more, Li Chaoren also cooperates with Canadian banks, and loans are not a problem.
In fact, Li Chaoren is more than qualified to participate in this kind of bidding. At present, there are at least ten Chinese-funded companies that have the strength to bid;
After all, a real estate project can be started with loans and fund-raising;
The premise is that your reputation is good enough!
As for Central Station and Admiralty Station to build properties, it is a ‘earning for money’ business;
As long as you come up with enough conditions to impress the subway company, you can naturally do it for you!
Seeing that Wu Guangyao did not agree with everyone, Shi Jun said: "Does the boss have a different opinion?"
Wu Guangyao said: "Although Niubijian is also the big class of the two major companies, it is subject to the constraints of the Keswick family; and the Keswick family focuses on overseas development. This will inevitably disperse Niubijian from Hong Kong. This time, the Land Company may not be able to offer the conditions to impress the MTR Corporation!"
The three of them listened and thought about it;
For a long time, Li Xing sighed: "The boss’s insight ability makes us ashamed! Indeed, these are the weaknesses of Land. People are often blindfolded by Land’s “appearingly strong” and think Land is ours. opponent."
After a while, Shi Jun said: "In this way, we seem to have overlooked many opponents! We have been the boss of real estate for more than ten years, and we are also used to calling ourselves the boss of real estate. 'Condescend' to cater to the subway company, I am afraid we are not the best bidder either!"
Wu Guangyao watched everyone finally calm down and finally let out a sigh of relief!
Too arrogant is often the root of failure!
Wu Guangyao said: "First of all, we have to analyze the true intention of the subway company for bidding?"
Be quiet again, everyone is lost in thinking, and the materials that have been consulted beforehand flashed through everyone's mind at this time.
Wu Guangyao analyzed: “The MTR is a public company directly under the Hong Kong government, but a public company in Hong Kong has a feature that the government does not participate in any other operations except for the government’s franchise and concessions.”
Shi Jun added: “In other words, the fund-raising, design and construction, operation and operation of the subway company are all equivalent to private companies and act according to the usual rules of shopping malls.”
Everyone put out their ideas one after another, no matter whether it is useful or not, let them discuss it together.
Li Xing said: "I asked the staff of the Hong Kong Government to inquire that the Works Bureau valued the original site of the Central Post Office (Central Station) at 250 million Hong Kong dollars and the Kowloon Bay Depot site at 350 million Hong Kong dollars. The original prices of the two pieces of land were approved. The subway company, the subway company develops high-altitude properties, and the profits are used for the lack of subway funds!
In order to pay the 600 million Hong Kong dollars, the MTR Corporation has repeatedly discussed with the Works Bureau, and some cash and MTR shares should be used to pay;
However, the Hong Kong government insists on paying in cash! "
After listening to Li Xing’s words, everyone’s eyes lit up!
"Lack of cash! The subway company is short of cash!" Xiu Yanbing raised his voice.
This is a good gap, as long as you think about the bidding around this point, you will definitely win the bid!
Wu Guangyao nodded, everyone finally has a bit of money!
"It's very simple. If anyone says that the high-altitude properties developed in these two places are used for leasing; then, he will definitely not win the bid! At this point, the land company may suffer a loss, and they have always liked to rent but not sell!" Wu Guangyao Said.
In fact, this is not true of Cheung Kong's commercial buildings!
However, the cash flow of Cheung Kong Holdings is obviously many times better than that of Land!
Li Xing went on to say: “At present, the subway company uses high-interest loans to pay for the land, so it is urgently needed to return cash to repay the loan, and hope to get more benefits!”
If you want to return cash immediately, but also want to obtain greater benefits, it is not good to meet the two points at the same time!
Everyone flips through the materials at hand, thinking about countermeasures with distraction!
After a while, Shi Jun said: "On the two sites, we can design and construct first-class commercial complexes; of course, bidders can think of and can achieve this. Therefore, we need to satisfy the subway company. An urgent need for cash.
First, Cheung Kong will use cash as construction costs;
Secondly, to break the previous half-and-half management, the subway company accounted for 52% and we accounted for 48%. "
Shi Jun finished speaking and looked at everyone!
Li Xing and Xiu Yanbing have echoed, agreeing with Shi Jun's point of view!
Although the construction fee is more expensive than the land fee, if the land is auctioned, it will be a large premium;
Therefore, half of the cooperative development projects on Hong Kong Island, and those with land are basically the bosses.
Wu Guangyao began to think, and slowly compared his biggest rival Li Chaoren in his mind, what might he do?
For a long time, Wu Guangyao shook his head, and said: "It's still not tenable!"
"No, boss! This kind of cooperation is already the first case on Hong Kong Island. We have to pay a lot of cash for construction costs; coupled with the concession of sharing, will the MTR hesitate?" Li Xing Said unbelievably.
Generally developing real estate projects, the use of loans is inevitable, and it is inevitable to generate more than 10% of interest every year;
This interest is the expense of the project, so the profits of both parties are naturally less!
Now, Cheung Kong takes all cash as construction costs, which is equivalent to saving a lot of expenses for this project;
Metro companies can also make greater profits!
The second point is about the sharing model. At present, for all real estate project cooperation, the land and construction costs are paid by both parties.
Even 51% and 49% divisions are extremely rare!
Regressed to this point, Wu Guangyao is still worried, and the real estate giants are a bit puzzled!
Wu Guangyao did not explain the reason, but was considering how to make a fuss about Li Chaoren’s bid!
It must have an advantage over Li Chaoren, but it shouldn’t let Cheung Kong Industrial suffer a loss!
What I want is a win-win situation, not a win-win situation!
"Yes!" Wu Guangyao patted the desk fiercely, frightening several people.
The three people also cheered up at the same time. They have been working for the boss for so many years, it is impossible not to worship!
Wu Guangyao said: "Do you think this year's bidding, when will the properties of these two projects be sold?"
Shi Jun quickly said: "The Hong Kong government has new regulations that the property sale period cannot exceed 9 months from the completion time. According to the construction progress of 28 months, it is expected that the two properties can be sold from May to August 1978! "
Wu Guangyao nodded, and said, “According to the subway company’s idea, it must be sold immediately and cash back!”
Everyone nodded, indicating that this is for sure!
"Then, if we add another condition to Shi Jun’s earlier conditions: after the building can be sold, the two buildings will be packaged and sold to Cheung Kong Real Estate at 110% of the market price."
Wu Guangyao finished speaking, and found that the three of them looked at Wu Guangyao, with weird expressions in their eyes!
"What's your opinion?"
Shi Jun said quietly: "Boss, since you just want to buy these two buildings, no matter who wins the bid, you will have to sell it in the end. Can you pack it and buy it?"
Wu Guangyao blushed, and quickly retorted: “Changjiang Industrial has won the bid, can’t it increase its reputation and gain a certain amount of income?”
This reason is indeed very right, but everyone seems to think that the boss should not take it so seriously!
Li Xing said: "110% of the market price is packaged, and you are at a disadvantage, boss! Instead of this, the subway company accounts for 55% of the profit, and our company accounts for 45% of the profit. This is absolutely 100% winning, and no real estate company dares to play like this. ! Moreover, it is better for the listed company Cheung Kong to bear some losses than the boss personally to bear the loss; besides, it was originally the business of Cheung Kong Holdings, and the boss should not be personally at a loss!"
Xiu Yanbing also persuaded: "That is, the boss has not paid the company's fee (salary) for a penny these years. I am afraid that it will cost more than tens of millions of Hong Kong dollars. Cheung Kong Holdings is a listed company. The interests of listed companies are in mind."
Well, although it's a bit awkward!
But everyone’s faces are sincere, let Wu Guangyao relieved!
In fact, Wu Guangyao has two ideas for this bid, so he must win:
First, continue to prevent Li Chaoren from becoming bigger, and control him under the control of Guo Desheng, Li Zhaoji, and Zheng Yutong; even the Hu family of Hehe and the Chen family of Henglong can hang him.
Secondly, Wu Guangyao intends to take down the two buildings on the subway station as the family's fixed assets.
As the saying goes, desire is too strong, so many things have been overlooked!
Fortunately, there is his own Big Three protector, so that it will not make a joke!
If these things are turned out for review in the future, you will definitely find that Wu Guangyao has done a stupid thing!
At the end of September, the Hong Kong MTR Corporation officially announced that it would openly accept the tender for the development right of the General Post Office on December 30.
Three months of preparation time. At one time, the bidding companies frequently contacted the subway company to spy on the subway company's intentions, prepare the bid documents and attachments, and submit them within the deadline.
Public bidding provides companies with a fair opportunity, and the content of the tender is confidential;
Bid winning rule: If you think too much about your own interests, you have little hope of winning the bid; if the conditions are too superior, you have no interest.
The specific grasp depends on whose method is high!
(End of this chapter)
Chapter 589 Almost done a stupid thing! September 1976, Hong Kong Island.As soon as Wu Guangyao returned from the United States, the media broke the news that the Hong Kong MTR Corporation would build a high-altitude development right over the station;For a time, the press began to hype the matter.The Hong Kong Mass Transit Railway Corporation was established in February 1975, and the first phase of the project started in June of the same year;The entire subway project is the largest public project in Hong Kong since the opening of the port. The entire project is planned to be completed in 8 years and is expected to cost 21 billion Hong Kong dollars;The first phase of the Mass Transit Railway project, from Kwun Tong, Kowloon, through the submarine tunnel to the Central Ring of Hong Kong Island, is 15.6 kilometers in length, has 15 stations, and is estimated to cost 5.5 billion Hong Kong dollars.There are three sources of funds for the subway project:First, the Hong Kong government provides guarantees to obtain various types of long-term loans from banks;Secondly, the subway company goes public and raises funds by selling shares on the stock market;Third, the subway company and the real estate company jointly develop the property on the station, and the profit obtained.Wu Guangyao became hot after hearing the news.Why?It turned out that as far as Wu Guangyao knew, the station development rights for the first tender were Central Station and Admiralty Station;Central Station is the end/start of the first section of the subway. It is located in the most prosperous banking district in Hong Kong, at the intersection of Pedder Street and Chater Street;The Lane Crawford Building of the Wu family and the Chater Building of the Landmark are on both sides of the road on the east side of this platform.Admiralty Station is the first battle through the Cross-Harbour Tunnel. It is also a transit station for the East Branch of Hong Kong Island. Nearby are the Hong Kong Government Offices, Supreme Court, Naval Headquarters, Police Headquarters, Red Cross, Heritage Museum and other famous buildings. The administrative area is close at hand.Gu Some people say that the Central and Admiralty stations are like two thighs of a chicken, with high-altitude development rights above them, and they will get the most lucrative profits. Gu's real estate developers are all "desperately imaginative."Naturally, Wu Guangyao is also very full-fledged', and even more!In the past life, the Global Building on the Central Ring Road, in the 21st century, Li Chaoren only sold 80% of the development rights and made a profit of 40 billion Hong Kong dollars;In other words, this building is worth 50 billion Hong Kong dollars!This money can buy dozens of Wanda Plazas.Furthermore, Wu Guangyao knew that in two or three years, he could persuade the Hong Kong government to erect a pedestrian bridge in the core area of Central;There is no hope for the buildings on Queen's Road, but the buildings at Central Station are definitely promising;At that time, the five buildings of Hongkong Land will be connected to the pedestrian bridge, and Wu Guangyao will have seven buildings which can be connected.Central's Natural Heart', how can Land Land's turn be no more!It's quiet at night, and the cold wind is slowly!Li Chaoren was walking in the garden of a villa in Deep Water Bay, unwilling to watch the moonlight before the flowers, but walking back and forth, lost in thought;The development right over the subway station has caused Li Chaoren to sleep and eat for days."Nowadays, the right to develop the subway is a big thing I must do! Otherwise, I will always be just a country real estate developer in the eyes of others, and a real estate developer who can't be on the stage!" Li Chaoren said to himself.However, as the land price in the central area is rising day by day, the land price per square foot has exceeded 10,000 Hong Kong dollars, which is the most expensive place in the world;A lot of official land can cost hundreds of millions of Hong Kong dollars, or even more than one billion Hong Kong dollars. Non-Huanghe Industrial's financial resources dare to participate in the bidding!Don't dare to participate, it doesn't mean you don't dare to expect. It is what Li Chaoren dreams of to build development rights in Zhonghuan!You don't have to hesitate any more, competition is fighting for life, but also fighting for wits. If you don't even have this courage, talk about how to establish a foothold in the market, talk about surpassing Land, let alone surpassing Cheung Kong!Make up his mind, Li Chaoren strode back home, sat in the study, and looked through the relevant subway materials he brought back.Know yourself and the enemy before you can win every battle!Changjiang BuildingWu Guangyao summoned the Big Three to discuss countermeasures. At this time, although the Big Three had separated, the boss was still one after all;So, what big moves Wu Guangyao has in real estate, the first thing that comes to mind is to invite three people to his office to discuss.Wu Guangyao said: "Who do you think is our biggest opponent?"The answers of the three people all point to the Land Company. Obviously, in their minds, only Jardine International Co., Ltd. can be called a rival on Hong Kong Island.At this time, New Bijian is the Jardine Matheson and also serves as the Landlord's Major;New Bijian has no background. He has participated in the work of Jardine Matheson since he was 20 years old and climbed to the position of chairman of the board of directors step by step;Therefore, a person like Newbiejian has a better overall strength than Henry Keswick!Wu Guangyao did not mention it. In fact, Cheung Kong's opponent should be a businessman you never even thought of;Although Li Chaoren has been robbed of a lot of opportunities by Wu Guangyao over the years, it does not mean that he has no strength to get involved in this tender;It's very simple. Big projects have not been done, Li Chaoren has done a lot of small projects, and his net worth is several hundred million Hong Kong dollars;Importantly, Li Chaoren is good at pumping water from the stock market funding. Huanghe Industrial is listed in London and Toronto and can raise funds through fund-raising;What's more, Li Chaoren also cooperates with Canadian banks, and loans are not a problem.In fact, Li Chaoren is more than qualified to participate in this kind of bidding. At present, there are at least ten Chinese-funded companies that have the strength to bid;After all, a real estate project can be started with loans and fund-raising;The premise is that your reputation is good enough!As for Central Station and Admiralty Station to build properties, it is a earning for money' business;As long as you come up with enough conditions to impress the subway company, you can naturally do it for you!Seeing that Wu Guangyao did not agree with everyone, Shi Jun said: "Does the boss have a different opinion?"Wu Guangyao said: "Although Niubijian is also the big class of the two major companies, it is subject to the constraints of the Keswick family; and the Keswick family focuses on overseas development. This will inevitably disperse Niubijian from Hong Kong. This time, the Land Company may not be able to offer the conditions to impress the MTR Corporation!"The three of them listened and thought about it;For a long time, Li Xing sighed: "The boss's insight ability makes us ashamed! Indeed, these are the weaknesses of Land. People are often blindfolded by Land's appearingly strong and think Land is ours. opponent."After a while, Shi Jun said: "In this way, we seem to have overlooked many opponents! We have been the boss of real estate for more than ten years, and we are also used to calling ourselves the boss of real estate. 'Condescend' to cater to the subway company, I am afraid we are not the best bidder either!"Wu Guangyao watched everyone finally calm down and finally let out a sigh of relief!Too arrogant is often the root of failure!Wu Guangyao said: "First of all, we have to analyze the true intention of the subway company for bidding?"Be quiet again, everyone is lost in thinking, and the materials that have been consulted beforehand flashed through everyone's mind at this time.Wu Guangyao analyzed: The MTR is a public company directly under the Hong Kong government, but a public company in Hong Kong has a feature that the government does not participate in any other operations except for the government's franchise and concessions.Shi Jun added: In other words, the fund-raising, design and construction, operation and operation of the subway company are all equivalent to private companies and act according to the usual rules of shopping malls.Everyone put out their ideas one after another, no matter whether it is useful or not, let them discuss it together.Li Xing said: "I asked the staff of the Hong Kong Government to inquire that the Works Bureau valued the original site of the Central Post Office Central Station at 250 million Hong Kong dollars and the Kowloon Bay Depot site at 350 million Hong Kong dollars. The original prices of the two pieces of land were approved. The subway company, the subway company develops high-altitude properties, and the profits are used for the lack of subway funds!In order to pay the 600 million Hong Kong dollars, the MTR Corporation has repeatedly discussed with the Works Bureau, and some cash and MTR shares should be used to pay;However, the Hong Kong government insists on paying in cash! "After listening to Li Xing's words, everyone's eyes lit up!"Lack of cash! The subway company is short of cash!" Xiu Yanbing raised his voice.This is a good gap, as long as you think about the bidding around this point, you will definitely win the bid!Wu Guangyao nodded, everyone finally has a bit of money!"It's very simple. If anyone says that the high-altitude properties developed in these two places are used for leasing; then, he will definitely not win the bid! At this point, the land company may suffer a loss, and they have always liked to rent but not sell!" Wu Guangyao Said.In fact, this is not true of Cheung Kong's commercial buildings!However, the cash flow of Cheung Kong Holdings is obviously many times better than that of Land!Li Xing went on to say: At present, the subway company uses high-interest loans to pay for the land, so it is urgently needed to return cash to repay the loan, and hope to get more benefits!If you want to return cash immediately, but also want to obtain greater benefits, it is not good to meet the two points at the same time!Everyone flips through the materials at hand, thinking about countermeasures with distraction!After a while, Shi Jun said: "On the two sites, we can design and construct first-class commercial complexes; of course, bidders can think of and can achieve this. Therefore, we need to satisfy the subway company. An urgent need for cash.First, Cheung Kong will use cash as construction costs;Secondly, to break the previous half-and-half management, the subway company accounted for 52% and we accounted for 48%. "Shi Jun finished speaking and looked at everyone!Li Xing and Xiu Yanbing have echoed, agreeing with Shi Jun's point of view!Although the construction fee is more expensive than the land fee, if the land is auctioned, it will be a large premium;Therefore, half of the cooperative development projects on Hong Kong Island, and those with land are basically the bosses.Wu Guangyao began to think, and slowly compared his biggest rival Li Chaoren in his mind, what might he do?For a long time, Wu Guangyao shook his head, and said: "It's still not tenable!""No, boss! This kind of cooperation is already the first case on Hong Kong Island. We have to pay a lot of cash for construction costs; coupled with the concession of sharing, will the MTR hesitate?" Li Xing Said unbelievably.Generally developing real estate projects, the use of loans is inevitable, and it is inevitable to generate more than 10% of interest every year;This interest is the expense of the project, so the profits of both parties are naturally less!Now, Cheung Kong takes all cash as construction costs, which is equivalent to saving a lot of expenses for this project;Metro companies can also make greater profits!The second point is about the sharing model. At present, for all real estate project cooperation, the land and construction costs are paid by both parties.Even 51% and 49% divisions are extremely rare!Regressed to this point, Wu Guangyao is still worried, and the real estate giants are a bit puzzled!Wu Guangyao did not explain the reason, but was considering how to make a fuss about Li Chaoren's bid!It must have an advantage over Li Chaoren, but it shouldn't let Cheung Kong Industrial suffer a loss!What I want is a win-win situation, not a win-win situation!"Yes!" Wu Guangyao patted the desk fiercely, frightening several people.The three people also cheered up at the same time. They have been working for the boss for so many years, it is impossible not to worship!Wu Guangyao said: "Do you think this year's bidding, when will the properties of these two projects be sold?"Shi Jun quickly said: "The Hong Kong government has new regulations that the property sale period cannot exceed 9 months from the completion time. According to the construction progress of 28 months, it is expected that the two properties can be sold from May to August 1978! "Wu Guangyao nodded, and said, According to the subway company's idea, it must be sold immediately and cash back!Everyone nodded, indicating that this is for sure!"Then, if we add another condition to Shi Jun's earlier conditions: after the building can be sold, the two buildings will be packaged and sold to Cheung Kong Real Estate at 110% of the market price."Wu Guangyao finished speaking, and found that the three of them looked at Wu Guangyao, with weird expressions in their eyes!"What's your opinion?"Shi Jun said quietly: "Boss, since you just want to buy these two buildings, no matter who wins the bid, you will have to sell it in the end. Can you pack it and buy it?"Wu Guangyao blushed, and quickly retorted: Changjiang Industrial has won the bid, can't it increase its reputation and gain a certain amount of income?This reason is indeed very right, but everyone seems to think that the boss should not take it so seriously!Li Xing said: "110% of the market price is packaged, and you are at a disadvantage, boss! Instead of this, the subway company accounts for 55% of the profit, and our company accounts for 45% of the profit. This is absolutely 100% winning, and no real estate company dares to play like this. ! Moreover, it is better for the listed company Cheung Kong to bear some losses than the boss personally to bear the loss; besides, it was originally the business of Cheung Kong Holdings, and the boss should not be personally at a loss!"Xiu Yanbing also persuaded: "That is, the boss has not paid the company's fee salary for a penny these years. I am afraid that it will cost more than tens of millions of Hong Kong dollars. Cheung Kong Holdings is a listed company. The interests of listed companies are in mind."Well, although it's a bit awkward!But everyone's faces are sincere, let Wu Guangyao relieved!In fact, Wu Guangyao has two ideas for this bid, so he must win:First, continue to prevent Li Chaoren from becoming bigger, and control him under the control of Guo Desheng, Li Zhaoji, and Zheng Yutong; even the Hu family of Hehe and the Chen family of Henglong can hang him.Secondly, Wu Guangyao intends to take down the two buildings on the subway station as the family's fixed assets.As the saying goes, desire is too strong, so many things have been overlooked!Fortunately, there is his own Big Three protector, so that it will not make a joke!If these things are turned out for review in the future, you will definitely find that Wu Guangyao has done a stupid thing!At the end of September, the Hong Kong MTR Corporation officially announced that it would openly accept the tender for the development right of the General Post Office on December 30.Three months of preparation time. At one time, the bidding companies frequently contacted the subway company to spy on the subway company's intentions, prepare the bid documents and attachments, and submit them within the deadline.Public bidding provides companies with a fair opportunity, and the content of the tender is confidential;Bid winning rule: If you think too much about your own interests, you have little hope of winning the bid; if the conditions are too superior, you have no interest.The specific grasp depends on whose method is high!End of this chapter
