The rise of Hong Kong's wealthy families

July 6

On this day, an auction of official land was held, among which the Mong Kok Land King attracted the most attention.

In a previous life, the land king in Mong Kok was auctioned in 1979. A consortium led by Hang Lung successfully bid and reached an agreement with the MTR to build a 22-story commercial building - Mong Kok Centre.

Two years later, in 1981, when real estate was at its peak, the building and some shops were sold, and the joint company made a profit of 400 million, which can be said to be a huge profit.

During this period, land prices in Hong Kong have skyrocketed. The Hong Kong government decided to auction this piece of land to stimulate land prices and allow the real estate industry to return to its peak level in 1973 as soon as possible. By selling other land at high prices, a large amount of income can be obtained, which will relieve the Hong Kong government funds are tight.

This auction gathered most of the real estate companies in Hong Kong. In addition to the Chinese-owned Five Tigers and some second-rate real estate companies, British-owned Land, Swire Properties, Wheelock, etc. also participated.

After entering the venue, Ho took a quick look and saw that there were about 40 real estate companies participating. In fact, a total of 13 lots were auctioned in this auction, 8 of which were owned by the MTR Corporation.

According to the order in which real estate developers registered, each company received a brand. The company formed by Manulife Development and Huamei Real Estate registered late, and the number plate was No. 36.

There are still ten minutes left before the auction starts, and various small groups are whispering. Sitting here are not only local real estate developers in Xiangjiang, but also some consortiums from Southeast Asia and RB. After all, the real estate development is really good.

Sitting next to He Jiahao are naturally Zheng Yutong, Li Zhaoji, Guo Desheng and others. They also have brands belonging to their subsidiaries, while Guo Desheng controls the brand of the United Company.

“Our main rivals are still companies composed of Yellow River Holdings, Hang Lung and Hopewell Holdings. Land companies generally only participate in land auctions in the Central District. Swire Properties is developing the old dock site, and Wheelock is committed to shipping. British capital should not invest. Try your best." Guo Desheng analyzed with sharp eyes.

"Well, there are also those consortiums in Southeast Asia and RB. Their investment focus is still in their own country, and they will not spend a lot of money on auctions." Zheng Yutong also added.

He Jiahao said nothing, just silently weighing the value of the 13 pieces of land to see which one could be higher than the reserve price.

Everyone stopped talking and the auction was about to begin.

The auctioneer introduced on the stage, "The first auction is located next to Fanling MTR Station in North District. The land area is 87,000 square feet. The starting price is NT$40 million, and each increase in price must not be less than NT$1 million."

As soon as the words were spoken, several small companies took the lead in bidding, and within a few minutes the bidding reached 50 million.

The subway station is just about to be built to Fanling, and the nearby commercial facilities are very imperfect. Even if a shopping mall is built, the cost cannot be recovered in a short time, and Fanling has a small population.

"On the 23rd, 54 million! Is there anything higher?"

"No. 28, 57 million."

At this price, the bidding range suddenly dropped, and the real estate developers shook their heads, saying that the price had reached the upper limit.

"60 million!" He Jiahao held up the No. 36 sign.

He knew that this piece of land was definitely a leak. With the development of Kowloon, there would be no loss-making land in Xiangjiang, but these real estate developers were not so bold.

"60 million for the first time, is there any higher price?" The auctioneer looked around for a week and found no one raising a placard, so he reminded Stimulus that the commission was from him. Although it was tens of thousands of yuan, it was rich enough. .

Zheng Yutong glanced at He Jiahao and reminded him in a deep voice, "Haozi, Fanling is not a very good place. There are only some villages around it. Shopping malls or buildings will have a high vacancy rate. It's hard to say how it will develop in the future."

He Jiahao nodded, "This is the last price. If someone offers a higher price, I won't follow it."

Hearing this, Zheng Yutong couldn't say anything else. After all, good words must be measured. He Jiahao is not a child anymore, so there is no need to arouse others' resentment.

In the end, Ho Ka-ho won the Fanling land at a price of 60 million, which also meant that Ho Ka-ho would not sell it again, because he would leave some for others to share.

The price of the first piece of land was tens of millions higher, which somewhat stimulated the psychology of real estate developers, and they started bidding more actively. Everyone knew that 60 million was the starting point for this auction.

It can also be said that He Jiahao "picked up a hot fried dumpling with cold hands" (cheap).

"Next, the land next to the Mong Kok MTR Station will be auctioned. The area is 76,000 square feet! The starting price is 140 million, and each bid will be no less than 1 million." The auctioneer almost shouted.

140 million. As soon as this price came out, the faces of many small and medium-sized real estate company owners changed slightly. Although they could get loans, 140 million was close to half of their company's market value. It was impossible to throw half of their wealth into it just for a piece of land.

Naturally, big companies like United Company and Land are not afraid. They are here just for this piece of land in the bustling area. According to the direction of development, the prime location of Mong Kok business district must be near Mong Kok MTR station. If you bid at a high price now, it will not be possible in the future. Will lose money.

What Ho did not expect was that Wheelock and Swire Properties would bid.

"160 million!" Wheelock shouted the number directly.

Swire Properties was not far behind. The second one shouted 170 million, which made many real estate developers take a breath of cold air.

Chen Zengxi of Hang Lung Properties held up the No. 13 sign with an expressionless expression, "180 million."

Guo Desheng held up a sign and shouted "190 million!"

Land Company's Bao Fuda smiled and held up the sign "200 million!"

He Jiahao is a little excited. If he had money, he would definitely buy this piece of land for 300 million. It's a pity.

"Brother Sheng, you can't give up the land to Land." Li Zhaoji said coldly.

Land's strength is already very strong, and we cannot allow it to become stronger, otherwise it will be difficult for everyone to develop.

Guo Desheng nodded and raised the sign again, "210 million!"

"First time in 210 million!"

"210 million for the second time!"

After waiting for a long time, the auctioneer finally dropped the hammer and said, "210 million, the third time, the deal is done!"

Guo Desheng and the others breathed a sigh of relief. Although it was a bit expensive, it was still acceptable.

There are still four plots of land behind, and Zheng Yutong has acquired a 72,000-square-foot plot next to Tai Po Market subway station for a price of 90 million.

After the auction, Chen Zengxi, Li Jiacheng and others came over and congratulated Guo Desheng and the others, "Congratulations, you won the auction's land king."

Guo Desheng smiled bitterly and said, "Thank you for your mercy."

"It's not that we are lenient, it's that 210 million is already beyond our budget." Chen Zengxi laughed.

In fact, their joint company took away 2 of the remaining 4 pieces of land. It was not considered empty-handed. The profit was not as good as that of the Mong Kok land, but it was similar.

"Is this Mr. He Jiahao, the chairman of Huamei Real Estate Company?" Li Jiacheng looked at He Jiahao and asked with a humble smile. His elegant look prevented people from thinking that he was very fierce.

"Hello, Li Sheng, I am He Jiahao. I am very lucky to meet Li Sheng, Chen Sheng, and Hu Sheng today!" He Jiahao bowed his head towards the three and said hello with the etiquette of a junior.

Chen Zengxi and Hu Yingxiang also replied.

The two parties exchanged greetings for a few words and then left.

He Jiahao thought that Li Jiacheng was going to say something about cooperation, but in the end he just said a few words.