Chapter 556 Auction
Wang Yuanchao nodded knowingly and said, "I am interested in several luxury residential plots in Taiping Peak and Deep Water Bay.
Of course, if there is an opportunity, it would be nice to acquire the land opposite Harbour City.”
Mr. Dong asked curiously:
"The company is very mature in the commercial real estate business.
Harbour City will definitely be one of the best commercial centers in Hong Kong in the future. What kind of business do you plan to do with the land opposite Harbour City? You should know that Harbour City is so large and has the first-mover advantage. If you plan to compete with Harbour City in the same way, the risk of losing money on this land is very high. "
How could Wang Yuanchao possibly tell you the business he wanted to run? So he lied:
"Mr. Dong, Hong Kong has a lot of people and little land, and this piece of land opposite Harbour City is in Tsim Sha Tsui after all.
I plan to acquire the land in Yau Tsim Mong, a wealthy area in Hong Kong, as a land reserve for my company. I don't plan to develop it now. I will develop it when my company has sufficient funds.
Then decide what kind of business to develop.”
"Oh, that's good too. It reflects that the land prices in Hong Kong have been rising and the land is getting more and more expensive. It's not bad to buy the land in Tsim Sha Tsui for land reserve."
Wang Yuanchao nodded, thinking that this was just the beginning. In the future, the land in Tsim Sha Tsui, Hong Kong, would be worth hundreds of times the price of land. How could there be a loss? Wang Yuanchao led Ouyang Yuanfang and her group to sit in the venue, chatting with Master Dong while waiting for the auction to begin.
"Is it because Mr. Huo's family didn't participate in the land auction this time?"
"No, you also know the Hong Kong government's attitude towards the Huo family. The Hong Kong government excludes the Huo family from any large-scale economic activities.
Moreover, the Chaoshan Chamber of Commerce and the four major comprador families acted as thugs to exclude the Huo family. The Huo family will not get any good results if they participate in such economic activities."
"Yes, the Hong Kong government is killing the chicken to scare the monkey."
"Yes, the auction has started.
Mr. Wang, you guys go ahead and do your work. I'm going to go and accompany my dad first."
"Okay, Mr. Dong, you go ahead and do your work. Let's find a chance to go out to sea together."
"Okay, call Master Huo, Master Zeng and the others when the time comes."
"good."
After the sale officially started, for every piece of land, the merchants in the venue began to bid loudly with red faces. Every bid was like a stone thrown into a calm lake, stirring up waves.
"Plot 67, North Point, HK$8 million, is there anyone else bidding?"
"Okay, Plot 67 North Point, Hang Seng Properties, offer HK$8.5 million. Is there anyone else bidding? 8.5 million for the first time, 8.5 million for the second time."
"Yangsheng Development 9 million."
When the host heard someone bidding, he immediately shouted excitedly:
"Okay, Ocean Rise Development is offering HK$9 million for Plot 67, North Point. Is there anyone else bidding?
9 million for the first time.”
"Hang Seng Properties offered HK$9.5 million."
"Okay, Plot 67 North Point, Hang Seng Properties, 9.5 million Hong Kong dollars. Is there anyone who can offer a higher price?"
"Yunji Real Estate offered HK$10 million."
"Yang Sheng Development offered 1,100 Hong Kong dollars."
“…”
"Hang Seng Properties offered HK$15 million."
When the host heard that Hang Seng Properties offered HK$15 million for Plot 67 North Point, he was so excited that he started shaking his head. The price he wrote was 20% higher than the price the Hong Kong government had in mind. He thought he had done something great this time, so he shouted, "Okay, Plot 67 North Point, Hang Seng Properties offers HK$15 million. Is there anyone who can offer a higher price?" 15 million for the first time, 15 million for the second time,
15 million for the third time,
Well, let's applaud and congratulate Hang Seng Properties for acquiring the land ownership of Plot 67 North Point in this auction."
After the host announced the ownership of Plot 67 North Point, thunderous applause broke out at the scene.
"Snap, snap. Snap, snap."
"Yuan Chao, didn't you say that the real estate businessmen from the Chaoshan Chamber of Commerce always band together to suppress other real estate developers at every land auction? Why didn't they bid for this piece of land?"
After Wang Yuanchao pondered for a while, he said to Liu Qianqian:
"North Point is where the Minnan people live in large numbers. Our company rented its earliest warehouse there.
It is now a slum in Hong Kong, with an underdeveloped economy and a messy environment. Therefore, in the eyes of these big developers,
The land there is not valuable, and they look down on it.
You have to know that real estate is a capital-intensive industry with high turnover of working capital and strong reliance on bank loans.
If the land is in a bad location and the properties are not sold quickly, it can easily cause the developer's capital chain to break and the company to go bankrupt.
Therefore, plots of land with good locations are the prey that these top real estate developers are eyeing.
The land in these economically underdeveloped areas has little value to companies that make profits from real estate development and sales.
Otherwise, everyone would go to the New Territories to buy land, where there is a lot of land and few people, and it is a rural area, so the land is very cheap.
Why are people still coming to land auctions to grab land in Kowloon, Causeway Bay, Hong Kong Island, and Central? "
“That’s right.”
As land was auctioned off piece by piece, large groups such as Cheung Kong, Land Development, Sun Hung Kai Properties, New World Development, Swire Properties, and Jardine Matheson all came out to bid.
The bidding sounds at the land auction were rapid and decisive, and the numbers soared like a rocket, representing the estimation and competition among different forces for the value of different pieces of land.
Some people raise their hands without hesitation, determined to win; others bid cautiously, looking for opportunities through weighing and strategizing.
As the price approached the high point, the atmosphere on the scene became more and more solemn. Every increase in price attracted everyone's attention. Until the final hammer fell and the dust settled, the winners were happy and the losers were unwilling to give up.
Together, they form a vivid picture of the land auction scene in Hong Kong's booming development era, and also foreshadow a new chapter of prosperity that is about to emerge on this land.
As the host loudly announced:
"The land below is located at 35 Barker Road, The Peak. It is a piece of land for luxury houses on the Peak. The lowest price is HK$500,000. Each bid must not be less than HK$10,000. Friends who are interested, please start bidding."
Wang Yuanchao finally got the piece of land he had set his eyes on, so he spoke loudly, determined to get it:
"One million Hong Kong dollars."
"Okay, Xiangjiang Group is asking for 1 million Hong Kong dollars.
Is there anyone else bidding?"
"1.1 million Hong Kong dollars."
"1.2 million Hong Kong dollars."
"1.25 million Hong Kong dollars."
Wang Yuanchao watched the others bid little by little, not bothering to care about bidding strategies, and just turned up the pressure and shouted loudly:
"Xiangjiang Group offered 2 million Hong Kong dollars."
"Okay, the land at 35 Barker Road, The Peak, the Xiangjiang Group is offering HK$2 million. Are there any other bidders? HK$2 million for the first time, HK$2 million for the second time."
"2.1 million."
Wang Yuanchao was most annoyed by people who kept bidding. He was so annoyed that he spoke directly:
"Xiangjiang Group offered 3 million."
Although the land at 35 Barker Road, The Peak, is a rare luxury residential land, it is only used for building houses for enjoyment and its economic value is not high.
Wang Yuanchao's price directly struck a chord with the masses who were pursuing him.
"3 million for the first time, 3 million for the second time,
3 million for the third time,
Well, let our company Xiangjiang Group successfully win the luxury residential land at 35 Barker Road, The Peak . Let's give a round of applause to Xiangjiang Group."
"Pah, pah, pah."
"Pa pa"
(End of this chapter)
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