2023-12-27 20:30:21
Sino Land has sufficient cash and has won multiple project bids in recent months. (Information picture)
During the Tung Chee Hwa era, the most outstanding real estate developer in Hong Kong was of course Li Ka-shing. Everyone knows this. When Donald Tsang becomes the Chief Executive, it will be the turn of Sun Hung Kai Properties (016).
To this day, SHKP is the largest real estate developer in Hong Kong, with 58 million square feet of rental properties. This does not include 67 million square feet of properties in the mainland. The two landmark buildings IFC and ICC, Separately located at both ends of Hong Kong and Kowloon, it has proven everything. As far as I know, but I am not 100% sure, it may be the largest real estate developer in the world.
Then came the Leung Chun-ying period. Although there were no outstanding developers, Cheng Jiachun, who had supported him during the election, stood behind him after he was elected and took congratulatory photos together, proving that he and Leung were watching the vote count together. Members of the campaign office.
When Leung was the Chief Executive, it was also the time when New World Development (017) was building the landmark K-11 and Rosewood Hotel in Kowloon. This huge complex of buildings with a current value of over 100 billion yuan includes shopping malls, commercial buildings, hotels, and service hotels. The combination of a residence and a house puts the neighboring Regent Hotel in a league of its own, which just happened to “avenge the shame” of the Zheng family when they sold the latter.
I remember that the opening ceremony of the Rosewood Hotel was crowded with people and it became a grand event at that time. Nowadays, dignitaries also choose this hotel as their first choice for wedding banquets, surpassing previous conventions and exhibitions: the hotel’s banquet hall may not be the most luxurious, but because it is large enough, it has the highest overall score.
When Carrie Lam was in power, Hong Kong was at its most chaotic, with violent violence and the COVID-19 epidemic, and real estate developers had no luck. However, “Henderson Properties” (012) first spent NT$23.2 billion to buy the commercial land on Murray Road in Central, and then spent NT$50.8 billion to buy the land at No. 3 Promenade Road in Central. Therefore, it can be regarded as the most important business in the Lam Cheng era. The developer is in the limelight.
From the above history, we can see that since the handover, there have been a total of 4 chief executives, and the four major developers/four major families have also taken turns in the spotlight. However, as the fifth Chief Executive, Li Jiachao, who is leading the charge in this generation?
Looking at the card, it seems to be “Sino Land” (083). This is because Singapore’s economy has led the world in recent years, and this cross-river dragon from Singapore also owns a large number of properties in the local area. Naturally, it has made a lot of money. Now it is in hand It also holds 42 billion yuan in net cash, so it has a lot of capital to “buy things.” Since October last year alone, it has spent nearly 10 billion yuan on “clearing goods.”
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