Chapter 376: All the colleagues will be plucked bald
As mentioned before, Fang Hexuan had arranged for Wanda’s property management company to collect properties door to door in Chongqing Building at the end of September.

Chongqing Building was built in 1961. As a 20-year-old building, the composition of its residents and landlords is very complex.

Today's residents are mainly new immigrants from the mainland, and the old residents or landlords have moved out long ago.

Some of these landlords have immigrated overseas, some have simply handed over their houses to real estate agencies for management, some have passed on their houses to the Hong Kong government's Housing Department after their death without anyone to inherit them, and some are caught up in disputes over inheritance among their children.

In a word, many real estate developers are particularly troubled by houses with a long history and unclear ownership and management rights.

Wanda’s property management company is no exception. They simply rented an office near Nathan Road to handle the Chongqing Building handover process nearby.

Not only the houses inside, but also the shops outside were all sold to private individuals by the building's development company a long time ago.

Think about it, if Wanda Properties wants to completely take over the entire Chongqing Building, it needs to negotiate with hundreds of owners one by one. In the past, it would take more than half a year to complete the negotiations.

However, not only is the overall environment bad now, but even the property market and the land market are collapsing, especially the panic caused by the Iron Lady's fall and the subsequent statement she made in Hong Kong, which has frightened many Hong Kong people who are ready to flee at any time like migratory birds.

At this time, Wanda appeared in time. Although the price it offered was much lower than when the market was booming, it could be paid in cash immediately, and in US dollars. This alone made it much more attractive than other peers.

As for those who really don't want to sell, Wanda did not use any underhanded tricks this time. Instead, it promised to exchange them for a new house of the same size in other places in Kowloon, and to subsidize a resettlement fee of 10% of the current total house price.

What made the property company laugh and cry was that after this condition was announced, many owners chose to sign replacement agreements with Wanda.

In fact, if you think about it a little, you can understand these people's thoughts. The reason is simple. The houses in Chongqing Building are not only old and cramped, but the public security is getting worse and worse. The owners can only choose to lower the rent in order to rent them out.

This is also why Chongqing Building later became a gathering place for low-end population from Southeast Asia, South Asia, the Middle East and Africa. There is no other reason but that the rent is cheap.

Not only can the owners buy a new house in other places, but they can also get resettlement allowance. Considering the current market conditions, it is not difficult to make a choice.

Of course, if he encounters a landlord who wants to blackmail people, Fang Hexuan doesn't mind using some drastic measures.

If Chongqing Building can be successfully taken over, it can be connected with the Golden Mile Holiday Inn and Imperial Hotel under the Mengxuan Hotel Group.

But Fang Hexuan was not satisfied. He planned to take advantage of the real estate collapse to buy all the other nearby properties such as Peninsula Building (completed in 1958), Burma Building (completed in 1957), Star Building (completed in 1970), International Telecommunication Building (completed in 1981) and the land of the future Far East Building.

In this way, his land can be connected into a complete "口" shape, with an area of ​​approximately 18000 square meters.

As he discussed the plan with Wanda executives, he even came up with a long-term plan for the entire piece of land.

The entire "mouth"-shaped land is located to the south of the Sheraton Hotel and the Peninsula Hotel, which can be said to be in an excellent location.

It has been mentioned before that the reason why there are many high-end hotels in the Greater Tsim Sha Tsui area along Salisbury Road is because this area is the golden area for tourism in Hong Kong.

Business elites who come to Hong Kong can stay in four- and five-star hotels on Hong Kong Island, but overseas tourists with a certain level of spending power will basically choose to stay in mid- to high-end hotels in Tsim Sha Tsui.

Therefore, precisely because of the large number of tourists, this area, including the southern part of Nathan Road, is particularly suitable for tourist economy. Although Harbour City is popular, the flow of people is too dense, and the supply is insufficient to meet the demand.

However, if the "mouth"-shaped land of 18000 square meters can be developed into a comprehensive commercial complex integrating accommodation, shopping, catering and entertainment, the prospects will be very promising.

After all, Nathan Road and Salisbury Road have long been prime locations in Hong Kong, with traffic comparable to that of Queen's Road opposite.

As the saying goes, when the boss opens his mouth, his subordinates are exhausted.

Although Fang Hexuan's plan is exciting, the specific implementation still needs to be arranged by Wanda's senior executives. It's really a mixture of pain and joy!

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Central, top floor office at Global Building.

Fang Hexuan sat in the boss's chair and looked at the investigation materials handed in by his subordinates, his brows sometimes furrowed and sometimes relaxed.

This is an analytical report on the operations of Hong Kong real estate companies in the past three months, which helps him to effectively grasp the latest developments of his Hong Kong peers.

For example, with the collapse of the real estate market starting from the end of September, real estate companies such as Hong Kong Land Development, Carmen Properties, Hang Lung Properties, Great Eagle Properties, Yida Investments and Guardian Properties have all encountered major problems such as broken capital chains or construction investment losses.

Fang Hexuan first used a pen to draw red circles on the names of the three companies: Hang Lung Properties, Great Eagle Properties, and Carina Properties. Then he put down the documents and picked up the phone.

"Hello, Brother Qi Zong, good morning. How about we go to Peninsula for tea at 3 pm? Okay, okay, see you there!"

After hanging up the phone, he leaned back in his chair and sighed heavily.

Hang Lung Properties, one of the five real estate tigers in Hong Kong in the original time and space, gradually fell behind the other four due to bad luck, and only slowly caught up after the 21st century.

In this time and space, there is no such thing as the Five Tiger Generals. Hang Lung's fortune was taken away by Fang Hok Xuan two years ago, and it lost a large piece of land in the "Taoda Industrial Village" in Ngau Tau Kok. The 2 square feet of land originally purchased can only be developed into a medium-sized housing estate. Without the scenery of the "Taoda Gardens" in the original time and space, it can only make a little money.

In addition, in 1981 in the original time and space, Hang Lung Properties would lead three consortiums to acquire the development rights of properties above nine subway stations along the Hong Kong Island subway line.

However, the development rights of one of the subway properties, Dongchang Building, was also acquired by Wanda in 1980.

Therefore, in 1981 in this time and space, Hang Lung and other three conglomerates only won the development rights of eight properties.

Wanda Real Estate originally planned to participate in the bidding, but was pushed back by Fang Hexuan.

Firstly, although the locations of these eight property development rights are good, they are not as compelling as the previous land in Exchange Square.

Secondly, Wanda can also wait patiently for more than a year or even several years to get the desired properties and land from Hang Lung and the Hong Kong government at low prices. This saves effort and money, so why not do it?

Now, Hang Lung is finally facing financial difficulties due to the collapse of the property market and has no money to pay the land price of Admiralty Section 2. The land will eventually have to be taken back by the Hong Kong government.

(End of this chapter)