Chapter 625
The Final Madness
Spring has come again (1997).
In March, Phase I of Haifu Center was completed.
"Ms. Guan, the transaction for your detached house in Jardine's Lookout has been completed, and the funds of 9850 million have been transferred to Jia Hui Investment's account!" The manager under her reported to Guan Jia Hui in the office.
Guan Jiahui's young female assistant clicked her tongue in amazement, thinking to herself—it's so easy for rich people to make money!
She knew that the villa was purchased by the boss in early 1995 for HK$4250 million. Now, in just over two years, it has more than doubled in value, yielding a profit of HK$5600 million.
Guan Jiahui was naturally quite pleased with herself, but she had seen it all before, after all, the people behind her were so powerful.
She feigned composure and asked, "What about the other properties for sale?"
The female manager said confidently, "Ms. Guan, please rest assured, the properties you invest in are all high-quality properties. Furthermore, the real estate market is currently extremely hot, with a constant stream of inquiries. As you know, at the beginning of the year, the luxury residential complex, Ka Man Garden, in Tsim Sha Tsui, went on sale, and one of the fourth buyers was resold for HK$243 million, which is about 20% of the property's value."
The "No. 4" designation is merely a "subscription qualification," not the property itself. However, this subscription qualification can fetch a sky-high price of HK$243 million, meaning that if you purchase the "No. 4" designation, you would need to spend an additional HK$1200 million to buy the actual residence.
At that time in Hong Kong, the average price of mid-to-low-end residential properties had climbed to HK$8500 per square foot, equivalent to HK$9 per square meter. This was in 1997; even at their peak in 2020, the average price in Shanghai and Beijing did not reach this figure.
Luxury homes in Hong Kong are generally priced around HK$15000 per square foot, while villas can reach HK$25000 per square foot.
For example, Kwan Ka-wai's investment in a detached house (villa) in Jardine's Lookout, with an actual area of 3700 square feet and an additional 3700 square feet of garden, has now sold for HK$98.5 million. In reality, selling it for over HK$100 million would not have been a problem; it's just that Kwan Ka-wai was eager to sell.
Guan Jiahui said, "If a deal can be reached as soon as possible, it should be done as soon as possible. Don't hold back on selling."
The female manager tensed. As someone who had worked for the boss for over ten years, she seemed to understand—Hong Kong's real estate market was about to crash. This was because the boss truly had a powerful patron backing him, allowing him to accurately predict the situation every time.
She already had a plan in mind, because she was also investing in real estate.
“I understand. A wealthy man has offered HK$26 per square foot for that shop on Paterson Street in Causeway Bay, totaling HK$2.3 million.”
Guan Jiahui said without hesitation, "Give it to him."
"it is good"
In early 1994, Hong Kong's shop rents were already the highest among 12 major cities worldwide.
In Causeway Bay, one shop commands a monthly rent of HK$3,929 per square foot. Another shop in Hong Kong Mansion in Causeway Bay received an offer of HK$230,000 per square foot, but the deal was shelved due to the owner's reluctance to sell.
Between 1994 and 1995, Hong Kong property prices fell by 30%, but rebounded by 40% to 50% in 1996; in the first quarter of this year, Hong Kong property prices continued to rise.
A shop at HK$26 per square foot isn't even in the best locations in Causeway Bay, like Russell Street. Prime shops on Russell Street can easily cost HK$30 per square foot.
A 100-square-meter shop costs around 3 million yuan.
This is Hong Kong!
"elder sister"
Before long, Li Jiaxin came to visit. Her investment company was also located in Phase 1 of the Haifu Center. The key point was that, in order to save face, she directly rented an entire floor of office space, which was over 10,000 square feet.
Of course, both Kwan Ka-wai and Lee Ka-yan have invested in many floors of office buildings in Central, including some of the same high-quality office buildings as the Admiralty Centre Phase 1. They just prefer to work in the Admiralty Centre Phase 1.
Guan Jiahui waved her hand, and her assistant poured the water and left the office.
"You're calling me so sweetly, you seem to be in a good mood!"
Li Jiaxin said with a smile, "Of course it's great! You don't know, I sold my sea-view villa in Stanley for HK$8000 million, and made HK$4800 million in two years!"
Guan Jiahui did some calculations on the calculator and even felt a little envious of Li Jiaxin. The rate of return over the past two years seemed to be higher than hers. This villa was purchased for HK$3250 million in early 1995.
Of course, she owns more properties than Li Jiaxin.
"I know, I made 5600 million from that villa in Jardine's Lookout, and it's already been sold!"
"what"
Li Jiaxin immediately took Guan Jiahui's arm and said, "Now I can't surpass you anymore, because you have two sons!"
In recent years, Li Jiaxin has wanted to have another child, but Chen Guangliang naturally refuses, mainly because he is afraid that he will not live to see his child graduate from university.
Chen Guangliang's youngest child is Li Jiaxin, born in 1989, when he was 79 years old. At least until she graduates from university, Chen Guangliang will still know about it.
Guan Jiahui said bluntly, "You venomous woman, you're always trying to take my place, but you're all talk and no action."
"where"
After the two girls playfully bickered for a while, Li Jiaxin said, "Sister, Mr. Chen told us to cash out as much property as possible within six months, but he didn't mention whether we should cash out stocks. Do you want to?"
Guan Jiahui said directly, "I'll listen to Mr. Chen."
"Tch," Li Jiaxin said, releasing Kai Jiahui's arm. "I'll be obedient too."
Guan Jiahui smiled. She believed that Mr. Chen would not forget to remind them, because the 87-year-old man was still full of energy and could not be forgetful.
Today, Guan Jiahui has assets exceeding 100 billion, fulfilling the promises Chen Guangliang made to his lovers back then.
In addition, the IT company's market value had reached HK$20 billion by this time, with annual profits of around HK$1.5 million. Its business had also become diversified, transforming it into a conglomerate with businesses in apparel, real estate, and securities investment.
The 'Tranquility' superyacht.
“Dad, Zeqi is interested in investing in a real estate project near a Tokyo subway station, with a total investment of HK$80 billion!” Chen Wenming told his father.
Chen Guangliang, dressed casually, was sea fishing and enjoying life.
He asked about the postponement, then said with a smile, "What's wrong? A project worth only eight billion is making you so uneasy?"
Chen Wenming's net worth is easily over 2000 billion. In the real estate sector, Kowloon Group is the largest landlord in Hong Kong, owning 950 million square feet of prime properties including Harbour City, Times Square, and Hollywood Plaza. It is also a major shareholder of Singapore Land, Singapore's largest commercial real estate company, and the largest investor in mainland China's commercial real estate market. Furthermore, it has substantial investments in properties in Japan and the United States. In the shipping sector, Worldwide Shipping has a deadweight tonnage of 800 million tons, with container ships roughly equivalent to oil tankers. In the aviation sector, it is not only a major shareholder of Hong Kong Airlines but has also established an aircraft leasing company in Ireland, purchasing passenger aircraft and leasing them to airlines in various countries. Additionally, it has Global Trading.
Chen Wenming was taken aback, then quickly said, "I'm not upset! It's just that after you suggested I cash out my Southeast Asian properties and non-core properties in Hong Kong, I felt that investing in Japanese real estate wasn't a good option. Plus, with the information from Wenying and Wensheng, I thought I'd come here to learn from your experience and advise Zeqi!" Chen Guangliang waved his hand and said, "Let him lose money! It's rare for a grandson in our Chen family to be willing to start a business. Losing a little is a valuable asset and will help Zeqi's growth. Don't interfere! Just be prepared to clean up his mess later."
Chen Wenming gave a wry smile. He understood that this storm was sweeping across the entire Asia, not just Southeast Asia and Hong Kong, but also Japan and South Korea.
However, my father is right. How much can we lose on an 80 billion yen Tokyo subway station real estate project? Besides, what goes down must come up. It's just a long-term investment.
But the fact that his son Zechi suffered such a loss will at least help him grow.
In fact, Chen Wenming is very proud of his son Chen Zeqi in recent years. In 1993, he went to Singapore to acquire a listed company and quickly expanded it through capital operations. He has invested in many projects in Singapore, Hong Kong and mainland China. His business is thriving, and even his peers will praise him.
As for the storm to come, how many people have the foresight of a father? Even a top Hong Kong tycoon like him couldn't predict it at all.
It's just that entrepreneurs like them don't have too much debt and have sufficient resilience to withstand risks.
On the first trading day of June, the Hong Kong Stock Exchange index remained strong, rising to a high of 18990.90 points, less than 10 points away from the 19000-point mark.
With the colonial rule nearing its end and the Hong Kong Special Administrative Region government about to be established, the Hong Kong stock market and property market entered a final frenzy, stimulated by strong capital poised to enter the market and create momentum.
In the evening, a Nissan RV drove into the "Sky High" villa complex atop Mount Gefu.
The former HSBC 'CEO House' is now four detached villas. Last month, a shocking piece of news broke in the real estate industry – one of the villas, Block C, was sold to a Singaporean tycoon for HK$1.5 million.
As Hong Kong citizens know, the Sky High Villa was purchased from HSBC in 1990 by IT Group Chairman Kwan Ka-wai for HK$1 million. It was then redeveloped and put into use in 1996.
Based on the price of Block C, it's equivalent to Guan Jiahui's investment tripling in seven years, making her a very wealthy person.
Therefore, in Hong Kong, Kwan Ka-wai is not only a 'fashion queen' but also a 'property speculation queen'.
The RV drove into Building B, and Chen Guangliang, dressed in casual clothes, walked briskly into the villa, showing no signs of being 87 years old.
Li Jiaxin was already waiting with her 7-year-old son, and she even affectionately snuggled into Chen Guangliang's arms.
"Miss Wu and Jiaming are here too!"
"Yes, Mr. Chen."
Wu Guofang's face lit up with a natural expression.
As for Li Jiaming, she was wearing a tight-fitting women's yoga outfit, which accentuated her curves and made her look very natural. She was Li Jiaxin's older sister and also Li Jiaxin's dowry maid.
Chen Guangliang did not lose his composure in front of his son and openly enjoyed Li Jiaming's service of changing his slippers. After all, this status had been imprinted in the minds of these mistresses' children since childhood, and this father was supreme.
"Should we call Sister Guan and the others over?" Li Jiaxin rarely took the initiative to ask.
Chen Guangliang laughed and said, "One family a day, I'll stay here for two days."
"Um"
These four villas are actually the residences of Donatella, Monica, Guan Jiahui, Li Jiaxin, Li Zhi, and Zhang Min. Two of the villas are shared by two families, since they only visit occasionally.
Three days later, Donatella, Monica, Kwan Ka-wai, Lee Ka-yan, Li Chi, and Zhang Min gathered on the "Tranquility" superyacht to make connections.
Today, the assets of the 'small family office' are close to HK$10 billion. The six women also hold regular gatherings, and the children also get together during summer and winter vacations, thus becoming a small family.
In a conference room, Chen Guangliang held a meeting with the six women.
"All your securities investments in the Asian market must be liquidated within the next two months, leaving not a single share. This liquidation must be carried out systematically over these two months, without any backlog."
Donatella and Monica also have investments in Asia, albeit at a relatively small scale. The main purpose is to strengthen the connections between the six women. The other four women also have some investments in Europe and America, but these are also small.
"it is good"
The six women realized that a storm was about to break out in Asia, and they did not question it.
Chen Guangliang continued, "Jiahui, Jiaxin, Azhi, Amin, you've cashed out a large amount of cash this time. Most of it should be kept for buying up assets in the Asian market later. But you can also each take out HK$10 to HK$20 billion to invest in the European and American markets. For example, buy stocks of internet companies like Microsoft, Cisco, and Yahoo. We can start preparing to do this immediately. Donatella and Monica are very familiar with this, so they can guide you."
Donatella smiled and said, "Don't worry, even if you don't say it, we know we need to unite."
At this time, she was 42 years old. Normally, the prime of life for European and American women is short, but Donatella at this age was a fatal attraction, and countless men pursued her.
But Chen Guangliang has a special charm that makes her choose to remain loyal to this man, not to mention that the two have two children. Their eldest son is already 13 years old and is very loyal to his father, and does not allow his mother to have contact with other men.
Chen Guangliang nodded and said, "By the turn of the millennium, you will all have a net worth of $15 to $20 billion, and I will have fulfilled my promise. But for the sake of my 11 children, I will not let you stop there. My children can only be rich."
Chen Guangliang then spent a full ten days on the ship before disembarking. During this time, the four Asian women naturally disembarked to arrange their work.
On the contrary, Donatella and Monica stayed by Chen Guangliang's side the whole time.
“My dear, if you’re still with me when you’re a hundred, that would be a legend among legends,” Monica said with a smile.
"If not, would you find another man?" Chen Guangliang said casually.
"No, the children will kill me! But I won't either, we already belong to you!"
At 33, Monica possessed the dual charm of a young woman and a young girl. She was more youthful than when she filmed "Sicily" in her previous life, but her allure was undiminished.
"After I die, you can find other men, but I won't die so soon. I want to watch my children grow up."
"Believe me"
Whether he believes it or not is no longer important to Chen Guangliang, nor has he ever cared about it that much.
He hoped to live to at least 2010, to be 100 years old. That way, his youngest child would have graduated from university and could gradually inherit his parents' business and wealth. (End of Chapter)