Hong Kong 1980: The Savage Era

Chapter 41【Big Company Effect】

Friday, October 1

According to the news reports of major newspapers, the Hong Kong MTR Corporation received bids from 12 companies for the property development rights project above the Sai Ying Pun MTR station. The consortium led by Hang Lung Corporation won the project. The proposal in the bid was to pay the MTR Corporation 2.1 million yuan for the land purchase fee and each party would share 50% of the profits generated by the entire project.
The project covers an area of ​​approximately 5.7 square feet and can be built into a commercial building with a floor area of ​​86 square feet.

The high-priced bidding for the development rights of the property above the Sai Ying Pun MTR station immediately caused a big stir in Hong Kong.

Many real estate developers believe that there will not be much competition from consortiums for the Sai Ying Pun MTR station project, so they are not optimistic about land development in the Sai Ying Pun area. In addition, warehouse development in the Sheung Wan area has not been very successful, so there is not much reserve of land nearby.

At this time, a consortium led by Hang Lung Group entered Sai Wan. It was foreseeable that the prices of nearby land would rise sharply and property prices would not be as low as before. Therefore, those real estate developers rushed to mobilize manpower to search for land in nearby areas, and the asking price would naturally not be low in order to quickly acquire it.

Early that morning, employees from a real estate company came to the door, seeking to purchase the warehouse from Luo Qihong.

"Mr. Luo, the warehouse in your hands was acquired for 60 yuan. Henglong Real Estate Company is willing to purchase the warehouse for 80 yuan, which is a premium of more than 3%. It is already a very lucrative profit." Li Jianmin, the department manager of Henglong Real Estate Company, who was dressed in a suit and had shiny hair, smiled and fooled Luo Qihong.

Luo Qihong shook his head and said, "Mr. Li, I am also in the real estate business. I have heard about the development rights of the property above the Sai Ying Pun subway station. Under normal circumstances, a premium of more than 3% would be very generous. Unfortunately, now that Sai Ying Pun is about to develop, this price is not generous at all."

Li Jianmin wanted to refute, but Luo Qihong continued, "If Mr. Li doesn't have better conditions, I will contact you after comparing prices and if I think you are suitable."

Li Jianmin knew that once he left this door, it would be impossible to acquire this warehouse again, so he said to Luo Qihong, "Mr. Luo, can you lend me your phone? I need to discuss something with the company."

Luo Qihong pointed at the phone and said, "Mr. Li, please feel free to come."

A few minutes later, Li Jianmin hung up the phone and sat back down. "Mr. Luo, the company has raised the purchase price and is willing to buy it for 100 million yuan. What do you think?"

"Mr. Li, to be honest, I am not satisfied with this price. If your company can't afford it, you can wait until other companies come to us." Luo Qihong would certainly not sell the baby at a low price.

"How about 120 million yuan?" Li Jianmin said gritting his teeth.

Guan Jiahui, who was not far away, couldn't help but gurgle in her throat. In the blink of an eye, she earned 60 yuan. Isn't this much more than robbing a bank?
"Mr. Li, it's boring to keep raising the price by 20 and 20. Just give me a highest price and I'll see if there is any gap with the price I have in mind." Luo Qihong said with a forced smile.

Li Jianmin glanced at Luo Qihong and thought to himself, "This guy is quite impressive." "The highest price offered by the company is 180 million. Luo Sheng can make a 200% profit, which is already very considerable."

Luo Qihong suddenly remembered the tenement building in Yuen Long that covers an area of ​​12000 square feet. The price on the document was 210 million yuan. He smiled and said, "230 million! This is my reserve price, which is a bit different from your company's reserve price."

"Luo Sheng, Sai Ying Pun is indeed going to develop soon, but it will take a year for the land price to really rise. It's just a temporary craze now. If the craze dies down, the price of the warehouse will fall again."

Luo Qihong smiled and said, "Mr. Li's words may be successful in deceiving the owners. I don't believe that real estate companies will do business at a loss. I still say the same thing. If your company offers a price, stay. If you can't afford it, leave."

Li Jianmin was not embarrassed at all. This kind of person has trained his skin to be as thick as cowhide. He was just a little embarrassed at this time because he had to weigh the interests of the company and himself.

Li Jianmin continued to make calls to ask for opinions from Henglong Real Estate Company. Luo Qihong only heard a short sentence "get it as soon as possible". Obviously, the price was not expensive.

Luo Qihong felt a little regretful. Perhaps he could have asked for another 20 yuan, but since he had already revealed his bottom price, it seemed difficult to go back on his word.

"Mr. Li, if your company still needs to consider it, please go back first. We still have some urgent matters to take care of." Luo Qihong glanced at Li Jianmin who still wanted to protect the interests of the company.

"Mr. Luo." As soon as Li Jianmin opened his mouth, Luo Qihong interrupted him and said, "Mr. Li, there is no way I can give in. Why don't you come back tomorrow? If I haven't reached an agreement with others, we will sign the contract. How about that?" Today's price is today's price. As long as the person is sent away, it will be easy to ask for an extra 20 tomorrow.

Who knew that when Li Jianmin walked to the door, he turned back and said, "Mr. Luo, 230 million is 230 million, but we want to sign the contract today."

Luo Qihong naturally made up various excuses to shirk responsibility. After all, it was a profit of 20 yuan.

Li Jianmin had no choice but to decisively buy the warehouse for 250 million yuan.

At the same time, many real estate developers conquered the area near Sai Ying Pun MTR station and a large number of properties were acquired. It can be expected that in half a year, this area will be full of buildings, forming a relatively prosperous Sai Wan business district.

Luo Qihong received the check that day and went to the bank to cash it, issuing a check for 60 yuan and another check for 100 million yuan.

Yiren Real Estate Company
Luo Qihong had called Lin Luoqi before coming, so Luo Qihong entered Lin Luoqi's office smoothly. The person who led the way was a beautiful secretary, who was average looking with an S-shaped figure. He admired her all the way from behind.

Lin Luoqi's office is not big, with an estimated area of ​​more than 100 square feet. The supplies are arranged randomly, without much sense of hierarchy, and even feel a bit messy.

"Why did you think of coming to the company to see me today?" Lin Luoqi laughed and joked, then turned to the secretary and ordered, "Make a cup of coffee, no, make a cup of tea."

The secretary replied with a "yes" and took one more look at Luo Qihong before leaving the office.

"How about my secretary? She has a good figure, right?" Seeing that the door was closed, Lin Luoqi said to Luo Qihong with a smile.

"It's interesting!" Luo Qihong said with a smile, "Is the secretary a new one?"

"Yes, he was just recruited." Lin Luoqi nodded.

Luo Qihong thought it was okay to admire it, but thinking about it seemed a bit too much, so he changed the subject and said, "I came here today to pay for the warehouse. Here is a check for 60."

"If you don't have enough money, you can give it to me later." Lin Luoqi no longer cared about hundreds of thousands of dollars.

Luo Qihong smiled and said, "It's not difficult to borrow again if you have borrowed and repaid. I want to buy the tenement building in Yuen Long from Yiren Real Estate Company, but I can only pay 100 million yuan. The remaining 110 million yuan will be paid after the tenement building is sold."

The secretary brought in tea at this time, glanced at the check on the coffee table, saw the amount, and said, "Tea, please!"

"Ah Hong, although the area of ​​the tenement building is not small, its location is not good. I am not worried about your payment problem, but I just want to remind you that you may lose money." Lin Luoqi said seriously.

Luo Qihong nodded and said, "I know there are risks, but I still want to give it a try. I can afford to lose hundreds of thousands of dollars."

He has already thought it through. If he is going to lose money, he will just hold on to it. After a while, he will definitely make money. It's just that it's a bit uncomfortable to be stuck with more than 200 million yuan. Now is a good time to make money.

"Okay! Since you insist, I won't persuade you anymore. Let's go to a nearby law firm to sign the contract later." Lin Luoqi felt that Luo Qihong was a little evil. He wanted to try a project that others thought was not profitable, but Luo Qihong seemed to have never failed. Could it be that there was really money to be made in the tenement buildings in Yuen Long?

(End of this chapter)