Guo Bingxiang’s children first opened a talk about the “joining” empire
Guo Bingxiang and Guo Jihao, the late founders of the Imperial Group, were interviewed by the media for the first time. In recent years, the two have successively taken over the company’s financial and real estate businesses. They expect the group’s property portfolio to remain in residential and rent-collecting. And intends to expand the Kingdom of Kai Tak.
Guo Bingxiang, the second generation of the Xindi (00016) family and the imperial group, passed away last year. However, when he was in the world, he has already set the framework for the development vision and operation of the group. The group has resumed all operations, and Guo Bingxiang’s children, Guo Yushan and Guo Jihao, have officially “taken the stick”. I was interviewed by this newspaper for the first time yesterday.
Separate financial real estate business
The two entered the Imperial Group in 2017 and 2018 respectively. They are currently holding directorships. Guo Xiaoshan is responsible for the company’s financial business, including stocks, bond investments and private company investments, while the younger brother Guo Jihao is responsible for the company’s real estate business. The first project to participate in was the Wuli Dun Ocean Park Hotel in Wong Chuk Hang.
The Empire Group currently has 10 real estate projects, two of which are joint ventures in the Kai Tak Runway area. Guo Jihao said that he learned a lot from the two Kai Tak project processes and learned how to “count” and describe it as a role for developers to invest in. “Don’t say it’s a fine road, but as New Comer, every experience is important.”
Developer cooperation, learning from each other’s advantages
As for the future development of the Group, Guo Jihao pointed out that there will be no good investment opportunities, and Guo Yushan also helped to add that it will develop in response to the company’s pace. “There are currently 10 Projects, 5 of which are residential, 5 non-residential projects, including 3 to become commercial, 2 to become a hotel, think half belong to Buy to sell, and half belong to long-term holding and rent, which is a healthy proportion, and future holdings will also be This ratio develops.
The Empire Group earlier won two joint ventures in the Kai Tak Runway area with the joint ventures of Wheelock Real Estate, New World (00017) and Henderson Land (00012), with a total land price of 20.9 billion yuan. Guo Jihao revealed that the cooperation with other local developers is in response to the large scale of the Kai Tak project and the relatively large silver code. As small and medium-sized developers, they may not participate. Seeing this opportunity, they can diversify their investment risks. Learn the strengths of different developers.
Guo Jihao pointed out that he is interested in continuing to bid for Kai Tak Land, but he has no target to win a lot of land. He thinks that depending on how aggressive other competitors are, he also has to “count his own number.” Guo Yushan added that the Kai Tak project was started after the death of his father, Guo Bingxiang, but she believed that “if the father is too tempted, she will definitely call us to go to bid.”
The cooperation between the Imperial Group and other local developers has already begun when Guo Bingxiang was alive, and was described as “opening up the second line of the governor.”
As for whether the group will cooperate with the new family of the Guo family in the future, Guo Yushan and Guo Jihao are not obliterated. Guo Yushan pointed out that his brother (Guo Jijun) is currently a non-executive director at Sun Hung Kai, responsible for the hotel business. At present, the two companies “have their own efforts”, but will not rule out opportunities for cooperation in the future.