I Want To Be a Rich Man on Hong Kong Island

Shiyock, the head of Swire Pacific, made an appointment to meet him, and Wu Guangyao raised the corners of his mouth to show a smile;

Because Wu Guangyao knew that good things came to him on his own initiative!

Old Shiyock made an appointment with himself during this time period, it must be for real estate matters;

Wu Guangyao guessed that there may be two things:

First, Swire Pacific sold the land to itself, and the funds raised were used to develop real estate projects;

Second, Taikoo Matheson intends to cooperate with Cheung Kong to develop the first few phases of Taikoo Shing.

Regardless of that matter, Cheung Kong will benefit a lot!

There is actually a reason why Swire Pacific is so conservative and distributes benefits to others;

This starts with Swire Pacific’s real estate development experience:

In the 1950s and 1960s, Swire Pacific never got involved in real estate, but instead sold a large amount of land;

For example: in the 1960s, Taikoo \u0026 Co. sold the Taikoo dormitory lot in Quarry Bay on the side of the island, which was later built by real estate developers into overcrowded pigeon cage-style residential buildings such as [Sea Mountain], [Sea View], and [Fu Chang];

For example, in 1967, Swire Pacific sold Blue Chimney to Cheung Kong Industries, and now it is being built into the New World Center;

For example, in the early 1970s, Swire \u0026 Co. sold the land on the east side of Hualan Road in Quarry Bay to Chinese real estate developers, and built Yanfu Industrial Building, Crown Motors, and Baofeng Garden.

Although Swire Pacific has sold a lot of land, Swire Pacific still has a lot of land in its hands;

This is the advantage of established foreign firms and established companies!

Therefore, Wu Guangyao is also keen to acquire these old British companies because of two advantages:

First, these companies have large land reserves, and these lands are very cheap and large.

Second, the business of these companies can bring them stable dividends.

In 1972, the Swire Group saw that the Hong Kong Island real estate industry was likely to prosper, while the world shipping industry began to decline, so Swire Properties was established;

Swire Pacific intends to close the Swire Dockyard and develop real estate on its 2.3 million square feet site.

However, the real estate industry needs professionals;

What's more, such a huge real estate plan can only be successfully developed if it has real estate background!

It is also for this reason that Wu Guangyao sold those lands that can develop large-scale housing estates to Cheung Kong;

Because Cheung Kong has a lot of experience in developing large-scale housing estates, and its own private real estate company, Cheung Kong Real Estate, can only be regarded as a real estate company (rent collection), with zero experience in developing residential projects.

At the beginning, in order to increase real estate experience and absorb real estate professionals, Swire Properties joined forces with a Chinese-owned real estate company, Dachang Properties, to form Swire Development (later it will acquire shares of Dachang);

Later, Swire Pacific acquired Jiancheng Real Estate, a small real estate company;

In this way, Swire Pacific finally has some strength to develop real estate!

It can only be said that Swire Pacific has gained some strength, but it is still not qualified to develop such a large project of Swire Dockyard, the two-year-old Swire Properties Company!

Therefore, Wu Guangyao decided that it must be a good thing for Shi York to find him!

 …

Wu Guangyao took Li Xing with him, and the two came to the headquarters of Swire Pacific.

After some greetings, everyone sat down in Shiyock's office.

"Mr. Wu, President Li, Cheung Kong has made a lot of moves recently?" Old Shiyock said tentatively. At this time, real estate and the stock market are brothers and sisters, so Shiyock intends to test Wu Guangyao's opinion.

Wu Guangyao said with a smile: "It's not a big move, it's all a plan made before!"

Seeing that Wu Guangyao put aside the topic easily, Shi York was not in a hurry, but planned to throw out the bait;

"Mr. Wu, Swire Pacific is planning to auction off the Saixi Lake lot and some land in the Swire Valley in the near future. I wonder if you are interested!"

Wu Guangyao frowned, Shiyock actually said that he wanted to auction it, not sell it to himself!

"Mr. Shiyock, the auction is time-consuming and labor-intensive. Why don't you set a price? My boss may be able to negotiate with you today!" Li Xing said with a smile.

Li Xing knew that Wu Guangyao not only wanted the land sold by Taikoo Matheson, but also wanted to further cooperate with Taikoo Matheson to develop the land of Taikoo Dockyard; therefore, it is necessary to take the initiative.

Wu Guangyao nodded and said, "Mr. Shiyock, since you have invited me, you definitely don't want to auction off the land! What's more, the auction takes time and effort, and at this point, it is easy to get a low price!"

Shiyock thought in his heart that he had won a game, and that he would kill this treacherous and cunning Chinese businessman today.

If Wu Guangyao knew Shiyock's thoughts, he would definitely snort in his heart;

You thought you killed me, but from the perspective of the future, you think I cheated you again!

Shiyock took out a map of Hong Kong Island, clicked on the North Point Mid-Levels, and said: "The Saixi Lake site has a total of 865,000 square feet, and the price is 100 million Hong Kong dollars!"

Li Xing quickly retorted: "Mr. Shiyock, the area of ​​this land that can be built is less than one-tenth! Is your asking price of 100 million Hong Kong dollars a bit too much?"

Wu Guangyao didn't speak, but nodded his head in agreement with Li Xing's words.

Shiyock said with a smile: "It is precisely because of this that I only ask for 100 million Hong Kong dollars!"

Wu Guangyao still didn't speak, Li Xing took the initiative to bargain with Shi York;

According to Li Xing, 75 million Hong Kong dollars is not bad, but Shiyock insisted that 90 million Hong Kong dollars would not let go!

Finally, Wu Guangyao said: "Mr. Shiyock, 85 million Hong Kong dollars, the cash will arrive immediately!"

Shiyock hesitated for a moment, then nodded in agreement. Obviously, he was also considering that if he cooperates with Changjiang Industrial in the future, it is better not to make too much trouble now!

Then, the two sides discussed the price of Site No. 1 in Taikoo Valley;

The land is about 500,000 square feet, and because it is in the middle of the mountain, the final transaction price was 65 million Hong Kong dollars.

There are very few lands that can cover high-altitude development rights for the two lands, so the price is so low;

But Wu Guangyao knows that although these lands are not flat land, they are also controlled by Hong Kong Island's floor area ratio regulations;

But an amusement park can be developed!

Amusement parks can not only bring a lot of income, but also increase the property prices on the land;

It can be said to kill two birds with one stone!

Because of this, Wu Guangyao did not haggle over every detail with Shiyock, and the price was not cut too hard;

Of course, there is also the hope of cooperating with Taikoo Properties to develop Taikoo Shing.

Sure enough, after the two pieces of land were negotiated, the faces of Shiyock and the executives of Swire Pacific became solemn.

Shiyock first asked: "Mr. Wu, what do you think of the future development of the real estate industry on Hong Kong Island?"

Since he wanted to cooperate with Swire Pacific, Wu Guangyao decided to show his sincerity: "Of course it is very good!"

"Mr. Wu, President Li, Cheung Kong has accumulated a lot of real estate experience and has a lot of real estate professionals over the years, which makes us very envious! To tell you the truth, Swire Pacific will announce recently that it will develop Swire Dockyard."

Wu Guangyao pretended to be shocked and said, "This is a big project!"

Shiyock nodded and said: "This is not a secret, let me tell you two! We will build a large-scale housing project - Taikoo Shing on the 2.3 million square feet Taikoo Dockyard site. The entire project will build 50 buildings Residential buildings with 26 floors to 30 floors, a total of 10,000 residential units, can accommodate 70,000 people; at the same time, a large commercial shopping center - Taikoo Shing Center will be built. The entire plan is expected to take eight years, with a total investment of 1.3 billion to 1.5 billion Hong Kong dollars."

Wu Guangyao nodded, listening very seriously!

To be honest, such a big project, for Wu Guangyao, is extremely attractive!

And Wu Guangyao has only developed a large housing estate with 1900 residential units so far, how can he not be tempted!

The reason why Shiyock told Wu Guangyao and Li Xing was also because Swire Pacific had planned it and was going to announce it to the market in the near future.

Wu Guangyao gave Li Xing a look, and Li Xing understood immediately, and said sincerely to Shiyock: "Master Shiyock, I think you must consider cooperation between Hongkong Land and Cheung Kong Industrial! But let me explain here, when it comes to real estate Strength, there is no company on Hong Kong Island that can compete with us; at the same time, we are willing to form a joint venture company with Taikoo Chang, and the proportion of capital contribution of both parties is the same. Taikoo Chang holds 52% of the shares, and we only occupy 48%. Taikoo Dockyard site for development; while cooperating, we are willing to provide technical support and guidance free of charge."

It can be said to be a very big concession. Of course, Wu Guangyao communicated with Li Xing in advance.

At this time, it is obviously not suitable to discuss cooperation with the mind of taking advantage;

Otherwise, Swire Pacific will definitely turn to Hongkong Land;

After all, they are all British businessmen. If Wu Guangyao did not show his sincerity, Swire Pacific would not choose Cheung Kong.

On Hong Kong Island, land is the boss, and whoever has a beautiful land is guaranteed to have a long queue of companies who want to cooperate!

Shi York and the executives of Swire \u0026 Co. did not expect that Wu Guangyao and Li Xing had become 'humble', unlike the initial purchase of land.

But if you think about it, if Swire Pacific hadn't been confident and technical, it would never have taken out the previous projects to cooperate with others.

The entire Taikoo Shing project is divided into ten phases;

In the thinking of the senior executives of Taikoo Matheson, at most three phases of residential projects will be taken out and tuition fees will be paid!

The next six phases and Pacific Place must be developed by ourselves.

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