Hong Kong 1980: The Savage Era

Chapter 120 [Wei Ji Building Century Building]

"You should spread the news immediately, saying that there are many real estate developers willing to pay a 2% premium to purchase the 5th floor of the AXA Center. We are also interested in selling it." Luo Qihong ordered, "Manager Kang, you should start contacting those real estate developers and speculators who are willing to pay a 2% premium, and try to sell all the AXA Center buildings within a few days."

Su Qishan and Kang Wenyi both had dilated pupils and looked a little surprised. They had just paid a down payment of 3150 million yuan to Cheung Kong Holdings and Guangsheng Hong Company a few days ago, so why were they selling off so soon?
Luo Qihong would not explain anything to them. It was totally unnecessary. They were not decision makers, but executors. They did not need to know the reasons.

Seeing that their boss had no intention of explaining, the two did not dare to ask. Although Luo Qihong was young, his style was extremely overbearing. Although he did not swear, what he did was even more cruel than swearing.

Su Qishan glanced at Luo Qihong, then handed him a document and said, "Boss, this is the information of Wei Kee Building at 18 On Lan Street, Central. The owner of the building is Baiqi Real Estate Co., Ltd. Their boss Zhu Baiqi has publicly said that he wants to sell Wei Kee Building. The asking price is not yet clear, but the Information Integration Department has calculated based on market conditions and estimates that the asking price for this building is 1.4 million yuan."

Luo Qihong opened the document and saw the basic information. It seemed that it was a Central Building that was more suitable for Paramount Company.

Wei Kee Building is 16 stories high, covers an area of ​​0.85 square feet, and has a floor area of ​​only 9.28 square feet. It is a small commercial building, but the building was built in 1977 and is very new, which is also one of the reasons why it can be sold at a high price.

The asking price for this Central building will not be very high. After all, its geographical location is not very good, and its land area is too small, so it is no longer very suitable for current market requirements.

If the Wei Kee Building is acquired, the pressure on Paramount Company will be greatly reduced, and the budget will be reduced by nearly 1 million yuan compared to Luo Qihong's.

Based on the current selling price of the AXA Center, Paramount can make a profit of at least 2 million yuan (interest needs to be paid). Combined with the funds recovered from the Lifa Building and Southeast Building, Paramount has already raised half of the funds.

This situation made Luo Qihong feel relieved. After closing the file, he looked up and said to Kang Wenyi, "Manager Kang, you can try to contact Baiqi Real Estate Company and tell them that we are interested in acquiring Wei Kee Building. You can offer them 1.3 million yuan."

"Yes, Boss Luo!" Kang Wenyi followed Su Qishan and changed his words.

Luo Qihong glanced at Kang Wenyi for a moment longer and wanted to tell him that Paramount was about to be sold, but when the words came to his lips, he didn't want to create any complications. In fact, by then, he didn't need to say anything, as all the employees would know.

Kang Wenyi left the office, but Su Qishan was still sitting in his seat, as if he had something to say to Luo Qihong alone.

Luo Qihong opened the file again and wanted to read it again. "Manager Su, do you have anything else to say?"

"Boss, I have another project on hand, but this project requires a lot of funds." Su Qishan said, his eyes flickering. He felt that this news was somewhat useless.

"Tell me about it!" Luo Qihong asked with interest.

"The Hong Kong Land Development has announced that it is interested in selling Century Building at 1A Tirigenda in Mid-Levels and the 3.5 square feet of land next to it. The reserve price is HK$3.8 million." Seeing that Luo Qihong was interested, Su Qishan handed over the information he had collected.

Century Tower 1 was built by Hong Kong Land Development Co., Ltd. and was occupied in 70. It is now 12 years old. The building is cylindrical in shape, 35 stories high, and can provide 58 stratified units, 2 duplex units, and more than 50 parking spaces.

Each apartment in Century Building is equipped with a super large terrace with open views and extremely broad views of Victoria Harbour. It only takes a 10-minute drive to Central.

This is the most central high-end residential building distribution area in the Mid-Levels. Whether in terms of educational resources or environment, it is one of the best in Hong Kong, and it is also a residential building that the wealthy class is competing for.

Century Building has been mainly rented out since the 70s, and the control of the 60 units is still in the hands of the Hong Kong Land Development.

Century Building is a rare and high-quality property, and there is also an undeveloped 3.5 square feet of land, which is really attractive. Luo Qihong knows that as long as he hypes it up a little, earning tens of millions is nothing, but it is not easy to get this property.

He could no longer remember which company had acquired the property, but as long as Paramount Holdings made some effort, it could fulfill the requirements of the Chinese Estates Holdings and acquire the Wei Kee Building in full.

"I'm afraid the competition will be fierce?" Luo Qihong asked with a frown.

"It's very intense. I heard that some big companies such as Sun Hung Kai Properties and Sino Land want to acquire this property." Su Qishan said nervously.

Compared with companies like Sun Hung Kai Properties, the Paramount Restaurant Company with a market value of 5 million was indeed not impressive enough. However, the market value of Cheung Kong Holdings at the time was only 6 to 7 million yuan. It also defeated the Land Development Company with a market value of nearly billion yuan in the property development rights project above the Central MTR Station and Admiralty MTR Station, and became famous for this.

Thinking of this classic case, Luo Qihong suddenly gained a lot of confidence. If Paramount Company defeated Sun Hung Kai Properties and Sino Land, the whole Hong Kong would be shaken. The market value of Paramount Company might exceed 10 billion yuan.

Wouldn’t Luo Qihong be making a fortune then?

"Is the Land Development Company planning to hold a bidding conference?" Luo Qihong asked. If it weren't for the bidding conference, Paramount Company's chances of winning the project would be even slimmer.

"Yes, it is planned to be held in mid-September, and registration will start in a few days." Su Qishan replied.

"Okay, you go and sign up for the company." Luo Qihong felt that there was still a month left, so he could prepare well.

After Su Qishan left, Luo Qihong held on to the information about Century Building for a long time and was reluctant to let go. Such a good project was simply a godsend, and he had to get it.

Even with the base price of 3.8 million yuan, Paramount might not be able to afford it, so Luo Qihong was considering finding a partner to form an alliance.

Finally, Luo Qihong took into account that his allies might not be willing to let go of Century Building in a short period of time, and his goal was to make a quick buck and sell it, so he decided to invest privately in conjunction with Paramount Company, which would be much more convenient.

A restaurant in the shopping mall of On Lok Yuen Building in Central
Wong Yuk-long met with Luo Qihong here to discuss the matters of Shenzhen Bao Printing Company.

"Mr. Luo, what exactly does Shengyun Printing Company mean? Why do you want to snatch the Shenzhen Bao Printing Company that Yulang International has its eyes on?" Huang Yulang stared at Luo Qihong angrily and questioned.

Luo Qihong sneered, "What? Is Yulang International the emperor? They don't allow other competitors to appear for the things they like. Are they trying to do a 'one-size-fits-all deal'?"

"Mr. Luo knows what I mean, so why change the subject?" said Wong Yuk-lang.

"I'm not changing the subject. Your Yulang International is coming up with these 'new acquisition plans' that have caused chaos in the printing industry. The boss of Shenzhen Bao Printing Company has approached Shengyun Printing Company for help and is willing to sell Shenzhen Bao Printing Company to Shengyun Printing at a low price. Does Mr. Huang want me to refuse this benefit that has been delivered to my door?" Luo Qihong would not talk about morality with Huang Yulang, and this guy would not talk about morality either.

"Does Mr. Luo know that Shenzhen Bao Printing and Yulang International have a business dispute?" Huang Yulang asked.

"I have some understanding. I was thinking of talking to Mr. Huang after I take over Shenzhen Bao Printing Company." Luo Qihong smiled.

(End of this chapter)