Rebirth 1983: Building My Business Empire Chapter 595: 578: Massive Property Sale

Chapter 595: Chapter 578: Massive Property Sale

The two buildings of DLG Mansion, with over 150 luxury units, 120 high-end apartnts in Sham Shui Po, and 160 high-end residences in Causeway Bay, she plans to sell them all.

General Manager Chen Ming was taken aback: “Boss, DLG Mansion is pri property, once you sell, you can’t buy it back.”

Selling the apartnts in Sham Shui Po and Causeway Bay is acceptable, as they can be replaced with properties in better locations with better facilities. But the luxury units in DLG Mansion have tenants of status, bring high rental inco, and have appreciated significantly in the past six months. With the real estate market booming in Hong Kong, the prices at DLG Mansion are certainly on the rise; selling now would be too much of a loss.

Lu Jiaxin said, “I have a major project in hand and currently lack funds, so I need to recoup so of it. Selling the two buildings of DLG Mansion, but not the land; I’ll build a third building in a few days.”

Xinxin Real Estate is Lu Jiaxin’s private asset, and selling it is just a matter of her word. Chen Ming fulfilled his duty by analyzing the pros and cons for her, and seeing her determination, he no longer objected.

The next day, Xinxin Real Estate released news that they intended to sell the high-end apartnts and residences in DLG Mansion, Sham Shui Po, and Causeway Bay.

The Hong Kong people love to speculate on everything; with the real estate market booming, many are speculating on properties. Seven out of ten property buyers are speculators, which is not an exaggeration in Hong Kong. Upon hearing that Xinxin Real Estate was releasing so many premium properties, an agent imdiately rushed over to reserve ten units. He would reserve more if he had more money.

Upon receiving the news, people rushed to Xinxin Real Estate, and for a while, the reception hall was packed with people unwilling to leave even after closing ti.

anwhile, stockbrokers Sun Shuangcheng and Wu Ziyue received a notice from Jiang Wen, instructing them to sell off all the stocks under Lu Jiaxin’s na.

Wu Ziyue, recalling Lu Jiaxin’s previous stock trading actions, asked, “The stock market is doing so well now, why sell off all the stocks? Did Miss Lu receive so insider information?”

Jiang Wen smiled and said, “The boss and Mr. Su are planning to invest in a major project and don’t have enough funds.”

Wu Ziyue thought this was just an excuse. Rembering Lu Jiaxin’s moves from two years ago, he thought it over and decided to sell the stocks he and his family owned, and after consulting with several major clients, he reduced their stocks too.

With such a large move by Xinxin Real Estate, it naturally garnered a lot of attention.

Zong Shing called directly to ask, “Jiaxin, why are you suddenly selling such pri property like DLG Mansion?”

Lu Jiaxin responded with the previous reasoning: “Nie Zhan has a big project in view, but lacks funds, so we can only sell so property to recoup funds. The building won’t be sold, only the DLG Mansion will be. Ah, I actually can’t bear to part with it.”

Zong Shing said, “Then save one for .”

Lu Jiaxin agreed imdiately and then asked, “Sister Shing, I rember your due date is next month, right?”

Being busy lately, she had forgotten that Zong Shing was nearing childbirth. For this new baby, friends and family need to prepare gifts. With the child soon to be born, she had to prepare a gift. No need to overthink, just get a zodiac-thed gold piece from her own company.

Zong Shing laughed, confirming she was not mistaken, and then hinted, “The due date is May 26, but it’s not definite; so babies co early and so late. Jiaxin, children are very adorable; you’ll understand when you beco a mother yourself.”

This indirect nudging toward marriage was both amusing and exasperating. Lu Jiaxin said, “Sister Shing, I’m not even engaged yet, so having a child is far off!”

The engagent date has already been set for the sixteenth day of the ninth lunar month. Lu Jiaxin hasn’t yet inford anyone from the Lu Family, planning to bring Lu Hongjun and Lu Shan over before the engagent. In truth, she most wishes for Lu Jiaguang to co, but as a public official, given the current situation, he can’t co. As for others, their arrival would only provoke laughter and perhaps stir up greed.

“Ti flies, you may think it’s early, but it will co in the blink of an eye,” Zong Shing said. Sotis she reminisced, feeling like she had just started dating her husband, and now the fourth child was about to arrive.

After chatting for a while, Lu Jiaxin had things to attend to and ended the call. As she put down the phone, a hint of a smile appeared on her face. Sister Shing’s light-hearted words showed she was adjusting well. And rightly so, being able to navigate under the scrutiny of her mother-in-law and grandmother-in-law for so many years was no small feat.

A week later, a new building from Wansheng Real Estate comnced sales. Those in the know imdiately sensed sothing was amiss as Lu Jiaxin sold so many properties just before, and now the launch was coming ahead of schedule. Even if they lacked funds, the funds recouped by Lu Jiaxin amounted to over 2 billion; Nie Zhan had no need to launch a month early.

Nie Jingwen called Nie Zhan to ask, “Third brother, why are you suddenly launching a month early? Did you receive so bad news?”

Although they were brothers, Nie Zhan didn’t plan to share the real reason with him. Lu Jiaxin trusting Su Heyuan with the situation was one thing, but Nie Zhan didn’t trust his older brother.

Nie Zhan said, “Brother, the current real estate situation is very similar to just before last year’s stock market crash, with everyone rushing madly to buy properties. I’m worried that the real estate market will experience turbulence like before, so I launched early to use the recouped funds to pay off a portion of the bank debt.”

Since he suffered heavy losses from not listening to Nie Zhan’s advice last ti, Nie Jingwen had to take it seriously this ti: “Do you think the property market will crash?”

Last ti, Nie Zhan had a hunch about the stock market crash, though he wasn’t sure when it would happen, but this ti it was entirely driven by Lu Jiaxin’s push.

Nie Zhan didn’t want to provide incorrect information and avoid being blad for any losses: “Brother, you studied economics and should know nothing is unchangeable. The stock market fluctuates, and so does the real estate market.”

“I’m doing this as a precaution, considering that the company’s debt ratio is too high, and even slight turbulence would cause the banks to demand repaynt.”

Last year, before the stock market crash, he brought the debt ratio down to 50%. However, after the crash, he accumulated too much land, and now the debt ratio is at 72%. Before last year’s crash, a 68% debt ratio worried many executives, with many outsiders being pessimistic, but now people believe Xinxin Real Estate can cover the risks and are not worried at all.

Nie Jingwen understood, realizing that Nie Zhan expected market turbulence, but believed the extent wouldn’t be significant or would be short-term: “I get it. Ah Zhan, thank you!”

After hanging up, Nie Zhan called his stockbroker, instructing him to sell all the stocks under his na. If Jiaxin’s prediction was inaccurate, he’d buy them back later with minimal loss; if she was correct, holding the stocks would result in significant losses.

As for the company-held stocks, Nie Zhan didn’t plan to sell them. First, the proportion is small, making it unnecessary to sell; second, selling company stocks would draw more speculation.