I Want To Be a Rich Man on Hong Kong Island

September 1976, Hong Kong Island.

As soon as Wu Guangyao came back from the United States, the media spread the news that the Hong Kong MTR Corporation will build high-altitude development rights on top of the station;

For a while, the press began to hype this matter.

The Hong Kong Mass Transit Railway Company was established in February 1975, and the first phase of construction began in June of the same year;

The entire subway project is the largest public project since the opening of Hong Kong. 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 underground railway project, from Kwun Tong, Kowloon, through the subsea tunnel to Central on Hong Kong Island, has a total length of 15.6 kilometers, a total of 15 stations, and an estimated cost of 5.5 billion Hong Kong dollars.

There are three sources of funding for the subway project:

First, the Hong Kong government provides guarantees to obtain various long-term loans from banks;

Second, the subway company goes public and raises funds through stock market sales;

Third, the profit from the joint development of the real estate on the station by the subway company and the real estate company.

After Wu Guangyao heard the news, his heart became hot.

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 starting point of the first section of the subway, located in the most prosperous banking district in Hong Kong, at the intersection of Pedder Street and Chater Street;

Lane Crawford Building of the Wu family and Chater Building of Landmark are on both sides of the road on the east side of this platform.

Admiralty Station is the first battle to pass through the subsea tunnel, and it is also a transit station for the East Branch Line of Hong Kong Island. There are famous buildings such as the Hong Kong Government Offices, Supreme Court, Navy Headquarters, Police Headquarters, Red Cross Society, and Museum of Art nearby. The administrative district is within easy reach.

Some people in Gu said that the two stations of Central and Admiralty are like the two thighs of a chicken, with high-altitude development rights on top of them, they will get the most lucrative profits.

And Wu Guangyao is naturally very 'pretending to be born', and even worse!

In the previous life, in the 21st century, Li Chaoren only sold 80% of the development rights of the Global Building on the top of Central, and made a profit of 40 billion Hong Kong dollars;

In other words, this building is 50 billion Hong Kong dollars!

This amount of money can buy dozens of Wanda Plazas......

Moreover, Wu Guangyao knew that in two or three years, he would be able to convince the Hong Kong government to build a pedestrian bridge in the heart of Central;

There is no hope for the buildings on Queen's Road, but there is definitely hope for the buildings at Central Station;

At that time, five buildings of Hongkong Land can be connected to the pedestrian bridge, and Wu Guangyao will have seven buildings that can be connected to the pedestrian bridge.

The "heart of nature" in Central is never the turn of Hongkong Land!

.........

In the dead of night, the cold wind is blowing!

Li Chaoren was walking in the garden of a villa in Deep Water Bay. He didn't care to watch the moonlight before the flowers, but paced back and forth, lost in thought;

The matter of development rights over the subway station has made Li Chaoren restless for days.

"Nowadays, building the development right on the subway is a major event that I must do! Otherwise, I will always be just a rural real estate developer in others' mouths, a real estate developer who can't stand on the stage!" Li Chaoren said to himself.

However, with the increasing land price in the Central District, it has exceeded 10,000 Hong Kong dollars per square foot, making it the most expensive place in the world;

A piece of official land can cost hundreds of millions of Hong Kong dollars, or even more than one billion Hong Kong dollars. It is not the financial resources of Huanghe Industrial that dare to participate in the bidding!

Not daring to participate does not mean not daring to expect. It is Li Chaoren's dream to acquire development rights in Central!

"There is no need to hesitate any longer. Competition is a fight for life, and it is a battle of wits and courage. If you don't even have this courage, how can you gain a foothold in the market, how can you surpass Landmark, let alone surpass Cheung Kong!"

After making up his mind, Li Chaoren strode home, sat in his study, and read the relevant subway materials he brought back.

Only by knowing yourself and the enemy can you be victorious in every battle!

 …

Cheung Kong Building

Wu Guangyao summoned the Big Three to discuss countermeasures. At this time, although the Big Three had separated,

But the boss is still one after all;

Therefore, when Wu Guangyao made any big moves in real estate, the first thing he thought of was to invite the three of them to his office to discuss.

Wu Guangyao said, "Who do you think our biggest opponent is?"

The answers of the three all point to Hongkong Land. Obviously, in their hearts, only Jardine Matheson can be called an opponent on Hong Kong Island.

At this time, Niu Bijian was a Taipan of Jardine and concurrently served as a Taipan of Landmark;

Niu Bijian has no background. He has been working for Jardine Matheson since he was 20 years old, and has gradually climbed to the position of chairman of the board of directors;

Therefore, a person like New Bijian has a comprehensive strength better than Henry Keswick!

Wu Guangyao didn't mention it, but in fact, Cheung Kong's opponent should be a businessman that you can't even think of;

Although Li Chaoren has been robbed of many opportunities by Wu Guangyao these years, it does not mean that he has no strength to get involved in this bidding;

It's very simple, he didn't do big projects, Li Chaoren did a lot of small projects, and his net worth is a few hundred million Hong Kong dollars;

The important thing is that Li Chaoren is good at pumping water from the stock market (raising funds). Huanghe Industrial is listed in London and Toronto, and can raise funds through fundraising;

What's more, Li Chaoren also cooperates with Canadian banks, and loans are not a problem.

In fact, it is not only Li Chaoren who is qualified to participate in this kind of bidding, there are at least ten Chinese companies that have the strength to bid;

After all, a real estate project can be started by relying on loans and fundraising;

The premise is that your reputation is good enough!

As for the property above Central Station and Admiralty Station, it is a business of "earning Geng" (earning a certain amount);

As long as you come up with enough conditions to impress the subway company, it will naturally be done for you!

Seeing that Wu Guangyao did not agree with everyone, Shi Jun said, "The boss has a different opinion?"

Wu Guangyao said: "Although Newbikin is the top class of the two major companies, it has to be restricted by the Keswick family; and the Keswick family focuses on overseas development. In this way, Newbikin is bound to be scattered in Hong Kong The spirit of choice. Therefore, this time, Hongkong Land may not be able to come up with the conditions to impress the subway company!"

When the three of them heard this, they fell into deep thought;

After a long time, Li Xing sighed: "The boss's strong insight makes us feel ashamed! Indeed, these are the weaknesses of Hongkong Land. People are often blinded by the "appearance of strength" of Hongkong Land, thinking that Hongkong Land is ours. opponent."

After a while, Shi Jun said again: "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 used to calling ourselves the boss of real estate. If we don't calmly study the partner this time, and don't 'Deigned' to cater to MTR Corporation, I'm afraid we are not the best bidder either!"

Seeing that everyone finally calmed down, Wu Guangyao breathed a sigh of relief!

Too much arrogance is often the root of failure!

Wu Guangyao said: "First of all, we need to analyze what is the real intention of the subway company to invite bids?"

After quieting down again, everyone was lost in thought, and the information they consulted beforehand flashed through everyone's minds one by one.

Wu Guangyao analyzed: "The MTR Corporation is a public company directly under the Hong Kong government, but a public company in Hong Kong has a characteristic, that is, the government does not participate in any other operations except for the government's franchise and preferential treatment."

Shi Jun added: "That is to say, the fund raising, design and construction, and operation and management of the subway company are all equivalent to private companies, acting in accordance with the usual laws of shopping malls."

Everyone expressed their thoughts one after another, no matter whether it was useful or not, they brought it out and discussed it together.

Li Xing said: "I asked the staff of the Hong Kong government to inquire. The Public Works Bureau valued the land at the original site of the Central Post Office (Central Station) at 250 million Hong Kong dollars, and the land at the Kowloon Bay depot at 350 million Hong Kong dollars. The subway company, the subway company develops high-altitude properties, and the profits are used for the shortage of subway funds!

In order to pay the 600 million Hong Kong dollars, the subway company has discussed with the Public Works Bureau many times that part of the cash and shares of the subway company 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 very good gap, as long as you think about the bid around this point, you will definitely win the bid!

Wu Guangyao nodded, everyone finally has some numbers!

"It's very simple. If anyone says that the high-rise properties developed in these two places are for lease, then he will definitely not win the bid! In this regard, Hongkong Land may suffer a loss. They always like to rent and not sell!" Wu Guangyao Said.

In fact, the commercial buildings of Cheung Kong Industrial Co., Ltd. are not like this!

However, Cheung Kong's cash flow is obviously many times better than Landmark!

Li Xing went on to say: "Currently, the subway company pays for the land with high-interest loans, so it urgently needs cash back to repay the loan, and hopes to obtain greater benefits!"

I want to get cash back immediately, but also want to obtain greater benefits. It is not easy to satisfy both points at the same time!

Everyone flipped through the materials in their hands, and their minds were distracted to think about countermeasures!

After a while, Shi Jun said: "On the two sites, we can design and build a first-class commercial complex; of course, the bidders can think of this and can do it. Therefore, we still need to satisfy the subway company An urgent need for cash.

First, Cheung Kong took out cash as the construction fee;

Second, break the previous management of half-and-half, with the subway company accounting for 52% and us accounting for 48%. "

After Shi Jun finished speaking, he looked at everyone!

Li Xing and Xiu Yanbing agreed one after another, agreeing with Shi Jun's point of view very much!

Although the construction fee is more expensive than the land fee, if the land is auctioned, there will be a huge premium;

Therefore, for half of the joint development projects on Hong Kong Island, the party with the land is basically the boss.

Wu Guangyao thought about it, and slowly compared what his biggest opponent, Li Chaoren, might do in his mind.

After a long time, Wu Guangyao shook his head and said, "It's still not sure!"

"No way, boss! This kind of cooperation is the first case in Hong Kong Island. If we pay cash for the construction fee, we need to pay a lot; plus the concession of sharing, the subway company will still hesitate?" Li Xing Said inconceivably.

Generally, it is inevitable to use loans to develop real estate projects, and it is also inevitable to generate interest of more than 10% per year;

This interest is the expenditure of the project, and the profits of both parties will naturally be less!

Today, Cheung Kong takes all cash for construction costs, which is equivalent to saving a lot of expenses for this project;

Subway companies can also get greater profits!

The second point is about the sharing model. At present, all real estate projects cooperate, and the land and construction fees are paid by both parties.

Even the division of 51% and 49% is extremely rare!

Regressed to this point, Wu Guangyao is still worried, the real estate giants are a little puzzled!

Wu Guangyao did not explain the reason, but was thinking about how to make a fuss about Li Chaoren's bid!

It must have an advantage over Li Chaoren, but it must not let Cheung Kong suffer!

What I want is a win-win situation, not one side's win!

"Yes!" Wu Guangyao slammed the desk, startling several people.

The three of them cheered up at the same time, they have worked for the boss for so many years, it is impossible not to worship them!

Wu Guangyao said: "When do you think the properties of these two projects will be available for sale this year?"

Shi Jun quickly said: "The Hong Kong government's new regulations stipulate that the property sales period cannot exceed 9 months from the completion time. According to the construction progress of 28 months, it is estimated that the two properties can be put on sale from May to August 1978!" "

Wu Guangyao nodded and said, "According to the idea of ​​the subway company, it must be sold immediately and the cash back!"

Everyone nodded, indicating that this is for sure!

"Then, if we add another condition to Shi Jun's condition just now: after the building can be sold, the two buildings will be packaged and sold to Changshi Real Estate at 110% of the market price."

After Wu Guangyao finished speaking, he found that the three of them looked at Wu Guangyao one after another, with strange eyes in their eyes!

"What's your opinion?"

Shi Jun said quietly: "Boss, since you only want to buy these two buildings, no matter who wins the bid, they will have to sell them in the end. Can you buy them as a package?"

Wu Guangyao blushed, and quickly retorted: "Cheung Kong won the bid, so wouldn't it be possible to increase fame and gain certain benefits?"

This reason is indeed correct, but everyone seems to think that the boss should not pay so much attention to it!

Li Xing said: "110% of the market price is packaged, boss, you are at a disadvantage! Instead of this, it is better that the subway company accounts for 55% of the profit, and our Changjiang Industrial Company accounts for 45%. This is absolutely 100% winning the bid. No real estate company dares to play like this ! Moreover, it is better for the listed company Changjiang Industrial to bear some losses than the boss himself; besides, it is the Changjiang Industrial Company's business in the first place, so the boss cannot suffer personally!"

Xiu Yanbing also persuaded: "That is, the boss has not taken a penny of the company's fee (salary) these years, I am afraid that it will be more than tens of millions of Hong Kong dollars; Cheung Kong is a listed company, so there is no need to use personal interests to make money. For the sake of the interests of listed companies.”

Well, it's a little embarrassing though!

But the sincerity on everyone's faces made Wu Guangyao feel relieved!

In fact, Wu Guangyao has two ideas about this bidding, so he must win it:

First, if Li Chaoren continues to grow bigger, he will be controlled by medium-sized real estate developers, under the control of Guo Desheng, Lee Shau Kee, and Zheng Yutong; even the Hu family of Hopewell and the Chen family of Hang Lung can hang him.

Second, Wu Guangyao intends to acquire the two buildings above the subway station as fixed assets of the family.

As the saying goes, the desire is too strong, so many things are ignored!

Fortunately, he has his own three giants to protect the law, so that no jokes will be made!

If these things are found out for review in the future, they will definitely find that Wu Guangyao has done something stupid!

.....

At the end of September, the Hong Kong MTR Corporation officially announced that it would openly accept bidding for the development right of the original site of the General Post Office, and the bidding time is December 30.

During the three-month preparation time, the bidding companies frequently contacted the subway company to spy on the subway company's intentions, prepare the bidding documents and attachments, and submit them within the deadline.

Open tenders provide companies with a fair chance, while tenders are kept confidential;

The law of winning the bid: If you think too much about your own interests, you will have little hope of winning the bid; if the conditions are too favorable, you will have nothing to gain.

The specific grasp depends on whose means are higher!

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