Chapter 1215 Still a Rich Man

The reason why the sale of Ho Tung Gardens has caused a sensation in later generations is not only because of its extremely high and amazing selling price. It is also because it is an ancient building.

There are not many ancient buildings in Hong Kong, so any changes to each building will attract great attention. For example, in 1998, the Hu family sold Haw Par Villa to Li Chaoren.

In order to change the community, Li Chaoren decided to demolish the previous Haw Par Villa, which caused great dissatisfaction among Hong Kong citizens, making the Li family's reputation in Hong Kong not very good in recent years.

In the end, Li Chaoren had to compromise and only demolished half of it, leaving the core building of Haw Par Villa as a tourist attraction. The rest of the building was built into a community.

Ho Tung Garden actually has the same problem as Haw Par Villa. However, compared to the Hu family selling Haw Par Villa and Li Chaoren demolishing it.

The Ho family wanted to demolish Ho Tung Garden and turn it into a real estate project. This proposal was strongly opposed by the Hong Kong Historical Building Conservation Team.

The news report at the time was that the Hong Kong government also proposed a compensation plan of 3 billion in cash, but it was rejected by the Ho family. Because the price in the mind of the Ho family was 7 billion.

Later, one wanted to demolish it, and the other strongly opposed it, and the two sides were deadlocked for a while. In the end, the Ho family directly sold Hedong Garden at a high price of 5.1 billion, and the Hong Kong government immediately announced that it would strictly enforce the stamp duty for this transaction.

After the transaction was completed, the buyer had to pay as much as 1.1 billion yuan in various taxes and fees. But even so, it did not shake the buyer's determination, and finally this great deal was completed.

Then Hedong Garden was still demolished and turned into a real estate project where the developer could earn tens of billions. Of course, with the current price of Hong Kong real estate, this project will definitely not make so much money. In the end, even if the transaction was reached, it would not be as exaggerated as in later generations.

After all, in 2015, the Hong Kong housing market had fully recovered, and the price was even crazier than the housing price before the financial crisis. The houses in the rich area of ​​the Peak are as high as more than one million yuan per square meter.

However, even though Hong Kong real estate is still struggling in the quagmire, the transaction of Hedong Garden still attracts the attention of many people. After all, the entire Hedong Hedong Garden covers an area of ​​124,000 square feet, which is approximately equal to 11,160 square meters, of which the buildable floor area is more than 5,500 square meters. This piece of meat is absolutely fat and greasy.

Another important point is that Hong Kong people believe in Feng Shui, and the Feng Shui of the location of all historical buildings is beyond doubt. You must know that the He family was once the first family in Hong Kong, and even now the He family is still rich and powerful. The Hong Kong gambling king is from this family. So the sale of Hedong Garden is still a very hot topic even now, and there is no shortage of buyers.

"The He family wanted to demolish Hedong Garden to develop real estate a long time ago, but the government has never agreed. After the financial crisis, they didn't mention this matter again.

Now that the Hong Kong economy has begun to recover, the real estate market has also recovered. The government also needs some large real estate projects to stimulate the market, so the He family once again proposed to develop Hedong Garden, but the official still refused to agree to the demolition of Hedong Garden. So the He family said that they wanted to sell Hedong Garden." Uncle Six explained.

Yang Dongxu nodded. This sentence was probably released in a circle, and it was normal that he had not received the news for the time being. And it is very likely that the He family does not necessarily have to sell Hedong Garden, but just use this trick to put pressure on the government.

After all, due to the "one country, two systems" principle, the management of private property in Hong Kong is based on the principle that private property is sacred and inviolable.

And the Ho family is a big family in Hong Kong. It is deeply rooted in Hong Kong and has many connections. So the government disagrees, and the Ho family dare not force it.

But it is different if it is sold to others. As long as all the procedures are completed and the handover is completed. Whether the buyer of Hedong Garden demolishes Hedong Garden or preserves this ancient building depends on the buyer's mood, and the Hong Kong government is not easy to ask.

"The people who bought Hedong Garden are probably rushing to demolish the previous building and develop a top real estate project to make a profit. If the Ho family really makes a move, it is a bit uneconomical for me to buy it." Yang Dongxu thought about it and said helplessly.

The Ho family has too many connections in Hong Kong and cannot force it. Yang Dongxu has a lot of assets in Hong Kong. He has the nickname of Yang Bancheng.

Li Chaoren was scolded by people all over Hong Kong for demolishing half of the Tiger and Leopard Villa. If he dares to demolish the building after taking over Hedong Garden, his reputation is probably worse than that of Li Chaoren now.

But if the Hedong Garden is bought and not demolished, the profit margin of the real estate project development will be limited. After all, as the only building on that piece of land, the Hedong Garden occupies the most essential part. If it is not demolished, it will be a big obstacle to the design of other houses in the entire project.

So even if the He family really wants to sell the Hedong Garden, if he buys it. For the sake of reputation, the Hedong Garden is not demolished, and the community is built on other land. The profit margin is actually similar to the development of other real estate projects.

In addition, after buying the Hedong Garden, whether it becomes a scenic spot like the current Tiger and Leopard Villa, or as the owner of the Hedong Garden, it is very troublesome to repair and protect the ancient buildings. And Yang Dongxu is undoubtedly the most afraid of trouble.

Of course, the limited profit is only relative to the current housing prices. If the Hedong Garden can be taken over in the next two years. Even if the previous buildings are not demolished, some villas can be built on other vacant land.

When Hong Kong real estate takes off, the profits earned there will still be huge. After all, the current housing prices in the wealthy areas on the top of the mountain are only between 100,000 and less than 200,000 per square meter. But within a decade or so, housing prices soared to one million per square meter.

There is at least a seven to eight times return on investment, and this return is a seven to eight times return on a huge investment base. For example, based on the current house price of 2 billion yuan as the base price, and almost 2.5 billion yuan as the ceiling price, it is not a big problem to acquire Hedong Garden.

While preserving the ancient buildings without demolishing them, we can save a lot of money by discussing the tax issue with the Hong Kong government. Including the cost of developing other real estate projects, the total investment of 3.5 billion can be used freely.

After more than ten years, an investment of 3.5 billion can earn at least 20 billion in profit after deducting the capital, and this is only a conservative estimate. By then, if done properly, the profit margins can be even greater.

Of course, if the garden can be demolished and the land is properly re-planned, the profit earned can be increased to at least 5 billion.

"So you're not going to take action?" Uncle Six couldn't help but feel a little disappointed. In fact, he told Yang Dongxu the news before he was sure whether the He family really wanted to sell Hedong Garden.

Uncle Six just wanted to see if Yang Dongxu could really take over Hedong Garden, and then make profits in other ways while preserving the ancient buildings.

This is undoubtedly the best of both worlds. As an old man from that era, he is still quite nostalgic. Especially since both the former owner of Haw Par Villa and the older generation of the He family are friends.

In fact, if the funds were not allowed, if the He family really sold Hedong Garden, he would take action to acquire it. At that time, aside from making money, he would be satisfied with building a few villas elsewhere as long as he could keep his capital.

"It's too early to tell whether to sell or not. The Ho family may just put a smoke bomb to put pressure on the Hong Kong government. Let's see, it will be too late when they actually want to sell." Yang Dongxu said with a smile.

It's not the transaction that's at stake, let alone such a large transaction. You certainly can't let your opponent grasp your own ideas. And there is really no need to rush this deal, it doesn’t matter if it takes a year or two.

"If you are willing to preserve the ancient building and not demolish it, no matter whether the He family set off smoke bombs this time, I will help you talk about it." Uncle Liu said.

Yang Dongxu glanced at Uncle Six in surprise, but seeing the look on Uncle Six's old face, he clearly understood. So he nodded and stopped looking for excuses: "Then ask, if the other party is not a lion, find a time to talk."

Since I came to Hong Kong to see Uncle Six, I would definitely not stay in a hotel at night, so I chatted with Uncle Six for a while after dinner. Yang Dongxu stayed overnight in his sixth uncle's old house.

"Are you interested in Hedong Garden?" Zhou Ya sat in front of the dressing table and applied some skin care cream. The little guy played too crazy in the yard in the afternoon and was already fast asleep.

Zhou Ya had spent a lot of time in Hong Kong before, so she was very familiar with the situation in Hedong Garden even if Yang Dongxu didn't say it.

"I am not interested in Hedong Garden, but I am optimistic about Hong Kong's future real estate projects. Chen Xin has a large sum of money with nowhere to spend it, so I am going to buy Hedong Garden with private investment and make a long-term investment. "Yang Donggu said.

“What do you expect Hong Kong real estate to become?”

"Looking at the mainland's housing prices will definitely skyrocket again after this regulation, and Hong Kong's geographical location is so special that housing prices here will definitely be higher than in the mainland.

Therefore, even if Hedong Garden cannot be demolished by then, the profit from the development of the buildable area on the land alone will be very considerable. Yang Dongxu said casually.

Zhou Ya nodded: "How are things going with the rich family?"

"Dade Real Estate filed for bankruptcy, and more than half of its previous assets were repossessed by banks and then divided up by other real estate companies. The industry in Hong Kong is also in shambles.

However, Fu Dehai bought a lot of houses with me in Hong Kong before, and he was able to get a sum of money even if he went bankrupt. In addition, Fu Chaming also has his own jewelry company. If he doesn't mess around, it will not be a problem for the family to be rich. "

A skinny camel is bigger than a horse, so this time the rich family suffered a huge setback. But even if the assets in hand are greatly reduced, they are still beyond the reach of ordinary people.

In particular, Fu Dehai currently holds at least hundreds of millions of funds in his hands. Although compared with Dade Real Estate's previous market value of tens of billions, Fu Dehai is worth tens of billions. Only one percent of the poor are left, but even one percent has 100 million, which is beyond the reach of many people.

Moreover, Fu Decai still has shares in Haina, and the jewelry store owned by Fu Chaming is now worth more than 2 billion. So rich people are still billionaires even if they go bankrupt.