Bao Sheng 3 billion investment in Hong Kong British real estate Chen Shuqu eldest son Chen Yaoyi
The Baosheng Group, founded in the 1960s by the old family, the late education and philanthropic couple Chen Shuqu and the couple in the 1960s, although it has assets of RMB 20 billion, it is mainly due to the Group’s main holding of property and the low profile of the property. Less understanding. Since Chen Shuqu’s eldest son, Chen Yaochi, took control of the Group in 2007, his business has diversified. While looking at overseas markets, Hong Kong has also started to rank among the real estate developers. Early last month, he launched the sale of the first gun project in the To Kwa Wan apartment, which was not responded to by the market. Custom. At present, Baosheng Group has three real estate bases in Hong Kong, the United Kingdom, and Vancouver, Canada. This year, we expect to invest RMB 1 billion each, with a total investment of approximately RMB 3 billion.
Jinhui Boom Headshots Looks Towards Kowloon East
After the Baosheng Group became a developer, it tried to make a noise at the beginning of last month. Jinhui, which had provided 175 business partners for the first time, sold nearly half of the units in just 8 days. The price of individual units was high at RMB 26,600, creating a record in To Kwa Wan District. new highs. In an exclusive interview with the newspaper, Bao Yao Group Chairman Chen Yaoyi said that the investment in Jinhui Development Project is mainly optimistic about the potential of the Kowloon East market, and the government is keen to turn the district into a second commercial core area. There are still many developments in the region in the next 10 years. Space is believed to be better than West Kowloon, which was developed 7788.
Chan Yiu-chi added that after the sale of Tianjin Huihui, the group discovered that the open-plan and one-bedroom units were very popular among buyers. Therefore, 18 Hung Hom Alpine Road will also be developed into a project of the same type, with a total of more than 50 units, providing open-to-room accommodation. , tend to be sold in the form of existing buildings, expected to be launched in the second half of next year.
Another Lion Rock Project in Kowloon City is undergoing mergers and acquisitions. It is planned to expand the site area from approximately 7,000 square feet to approximately 10,000 square feet. It is not ruled out that it will be further strengthened and is expected to be developed into a single-family home. As for the wholly-owned Caroline Hill Road project in Causeway Bay, the land premium is being negotiated and no sale or retention of rent has been determined.
20 billion assets not listed companies
The Baosheng Group has a total asset value of 20 billion yuan, which is better than many listed companies. In terms of strength, it can develop even bigger projects. However, Chen Yaoxi bluntly stated: “You can place all your eggs in one place." With diversified investments, the current land price is high and it is not possible to concentrate funds on a certain project. The Group will do what it can. The future will focus on the development of smaller-scale projects such as Jinhui. Although the acquisition period is longer, it is more suitable for the development direction of the Group.
In addition, Baosheng holds a number of investment properties in the United Kingdom and Vancouver, Canada. It currently focuses on the development of these three “bases” and is expected to invest RMB 1 billion this year. The total investment in the three places will be approximately RMB 3 billion.
Property prices soared by 10% this year
In recent months, the stock market fluctuates. Chen Yaoxi believes that the recent global market fluctuations are mainly affected by the US punitive tariffs imposed on imports of steel and aluminum products. The economy has a good tone, and the stock market volatility will not impact the property market. The property market has fallen sharply. It is expected that property prices will increase by 5% to 10% in the coming year.
Regarding the current shortage of residential housing supply in Hong Kong, Chen Yaoyi, a major in economics at the university, bluntly stated that the government’s launch of “hot tricks" for many years was only in vain. Property prices were rising or falling depending on interest rates, high interest rates, low property prices, and low interest rates. Property prices have risen. The implementation of the linked exchange rate for many years in Hong Kong has caused the rise and fall of the interest rate to be often led by the United States. The government has difficulty controlling the rise and fall of interest rates. The interest rate has been low for many years and it cannot effectively curb property prices.