Far-reaching: the future will be biased towards overseas market development
Far East Development (035) Managing Director Kong Xiangda said yesterday that Gao Yin Finance (530) had abandoned the Kai Tak Land earlier, which was only an individual incident, and investment in real estate never took into account the political atmosphere. I believe that the impact of the incident is “the atmosphere is more than the essence.”
Will increase the British land reserve
Kong Xiangda pointed out that although the company’s assets are still concentrated in Hong Kong and there is still room for development, it is expected that Hong Kong property prices will not increase much, so it will remain cautious in Hong Kong in the future. He continued, pointing to overseas markets with double-digit returns in the future, investing in densely populated areas such as London and Manchester in the UK.
Regarding the issue of “Brexit” in the UK, Kong Xiangda said that its strategy is to purchase land at a low market level. Due to the above problems, it has been brewing for some time, and the recent depreciation of the British pound will benefit the local hotel business and will increase the land reserve in the future. In addition to the UK, Kong Xiangda said that he would also buy land in Singapore, involving more than 3 billion yuan in capital.
In terms of overall sales, Kong Xiangda said that in the next three to four years, the company’s property pre-sale amount will be 14.6 billion yuan, and this year, the project can be sold, two of which are located in Hong Kong, one in Perth, Australia, and another in Guangzhou. Item tail.
The hotel’s net worth is about 20 billion
The dividend payout ratio of the Far East Development fell from 36% in 2017 to around 30% today. Kong Xiangda said that the future dividend payout ratio will remain at 30% to 40%, and the share repurchase target for this fiscal year is 200 million yuan.
Regarding how to dispose of its hotel assets, Chief Financial Officer Chen Jiabang pointed out that it does not rule out any possibility; at present, the net asset value of the hotel is about 20 billion yuan. If it is split by the above value, it will record a record of 16 billion yuan. Profits; and hope to invest in new real estate projects by adjusting the capital structure.