Events: Beijing has been coveted by Richard Li Pacific Century idea of regeneration cash
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"Little Superman" Richard Li, the only _set_ in properties in Mainland China - Beijing Pacific Century has become the meat and potatoes.
Burst in by the Hong Kong media, "Mr Li to sell a Pacific Century," the news, Richard Li, PCCW helm of Pacific Century Premium Developments Inc. (PCPD) has finally publicly admitted that some third parties have been recently expression of the will of the acquisition of Pacific Century, and the public
Related Pacific stock movements
Division is open to investment opportunities.
Sales program in 2008, "abortion" after Richard Li Pacific Century Center once again usher in "cash" opportunity.
Second cash
As a regional landmark, Pacific Century Place in Beijing's Sanlitun area that is known to the bar has been located for 10 years.
This is Richard Li, the first development in the Mainland, and is currently the only holder of a property project. The end of the century, Richard Li, the collection of office, residential, shopping, dining, leisure and entertainment as an integrated form of supporting the development of the property into Beijing. The whole project covers an area of 10,000 square meters, total construction area of about 22 million square meters, the entire building from the two grade A office space, two luxury service apartments and nearly 38,000 meters of the Pacific Department Store Shopping cottage form.
With its own advantages, Richard Li of Pacific Century Center is also equipped with high-tech communication facilities, combined with prime locations, built at the beginning of attracting a large number of tenants to stay. Including IBM, Boeing, Mitsubishi Electric and other internationally renowned companies once the center of the tenants.
Despite the low occupancy rate has not been, Mr Li is the second time in a decade came the news of the sale of property.
In April 2008, Pacific Century Premium Company's Web site issued a "consultation sale Beijing Pacific Century" proclamation "is negotiating with potential buyers to sell its interest in Beijing Pacific Century." Unsold part of the total integrated project floor area of 169,915.83 square meters and 861 parking spaces, according to February 29, 2008 for valuation, the market value of up to 4.103 billion Hong Kong dollars. "Although the sale price, time and other terms yet to be finalized, it is expected that Beijing Pacific Century's net purchase price will be 4.103 billion Hong Kong dollars plus or minus 5% of the float range."
But afterwards, Richard Li, Pacific Century Center will not sell. Widely speculated that the first time the industry cashed abortion is due to the financial crisis.
The latest rumors in the market, Richard Li Pacific Century opened to the price is still 40 billion yuan. However, this has not been a PCPD respond. Just admit, there are "certain third parties to acquire the rights and Beijing Pacific Century Group to contact."
"Now so many value investors in commercial real estate, it may not because of how good the situation, but a lot of spare cash and no place to go." Shanghai Zhongyuan, director of Real Estate Research Advisory Council Song Yong told reporters on times weekly, but the investment is successful, can not be separated return on investment for specific projects.
The choice of the length of the interests of
Pacific Century's operating performance is attractive to the investor?
"In the adjacent district of Sanlitun embassy district, Pacific Century there is little competition, because not many office buildings near the well. In addition to the vicinity of the Nexus Center Tuanjiehu outside, only not yet begun operations' WTO three workers'. "According to Beijing," floor area "network office manager, at present the price of Pacific Century Leasing office space per day to 8 yuan / sq m, or a monthly 240 yuan / square meters, provided in the report of DTZ Debenham Tie Leung Beijing Grade A office space in the fourth quarter, the average monthly rent 171.16 yuan / square meter high, and the office rental rate of over 90%.
Six months before the lease price of Pacific Century Center office building prices and the day just 7 yuan / square meter level. Research Center under the China office (CORC) statistics, in 2010 the Beijing office market supply capacity of 2,352,000 square meters, a decrease of 28.3% over 2009; while the annual rental market is the demand continues to rise, closing sharply amplified, the overall vacancy rate remained low situation, rental prices increased over 2009 by 29 percentage points.
DTZ Debenham Tie Leung's analysis also said the prospects for the future well-Beijing Grade A office market is expected by 2014, rents will continue at an annual growth rate of about 4%. Pacific Century's future seems bright.
In addition to offices, the Pacific Century also owns apartments and shopping centers, and other formats, PCCW first half of 2010 Annual Report, as of June 30 last year, Pacific Century Place in Beijing six months, the average occupancy rate of 75%.
"The low rate of return on commercial property generally the case, the occupancy rate of 75% is not bad results." Soong Yung Reviews Road.
But including all real estate developers, including Mr Li will face a choice - to bring a lot of money holding properties of precipitation pressure, rental income can only be steady, but the long term to stabilize the cash flow, and has the potential for capital appreciation; If hold property is sold can be lucrative in the short term.
According to PCCW's annual report, 2009, Pacific Century Place Beijing recorded a total gross rental income of about 212 million Hong Kong dollars, while the 2008 is about 2.3 million. Relative PCPD obtained in these two years were 4,222 million and a turnover of 9.943 billion yuan, the Beijing Pacific Century's share of rental income is not large.
However, if according to the rumors of the sale price of 40 billion yuan, Mr Li could be achieved overnight turnover for the year 2009.
Pacific Century Real Estate, Corporate Communications reporters in response to Die Zeit and the company announcement, said the project has not yet made any decision whether to sell, but "in the country has been and will continue to actively seek investment opportunities in real estate and other long-term." Richard Li, obviously this is open to investment opportunities, PCPD is also worth considering that it would study any proposals, and carefully analyze the pros and cons.
"Little Superman" and "cash in career"
Choose to sell, or hold, with Richard Li's acting style has always been closely related. Ye Tan known financial commentators have said, "Richard Li is not the industrialist capitalist, his wealth comes from capital appreciation after the transfer for resale profits."
So far, the "Little Superman" business career, was called the capital of many industry players who "cash in his career."
Toronto, Canada, Gordon has experienced investment banking adviser Richard Li, Hutchison Whampoa in the first major action, which is founded in 1991, satellite TV, TV stake sale in 1993, turn to the media tycoon Rupert Murdoch, successful 5.3 billion Hong Kong dollars cash.
The incident shocked the industry capital operation to Richard Li, the "financial expertise" can be fully demonstrated, but also for his own company in 1993, provided funds to create the Pacific Century.
End of 1995, Richard Li purchased from Inchcape Pacific Crown Motors Building, Quarry Bay, valued 675 million; and after just 8 months and home sales, the net profit of 135 million Hong Kong dollars. The real estate investment, so that Richard Li, the sweetness of taste great.
Since then, Richard Li in real estate follow up the victory. In 1997, he was in Japan a total investment of 8.0 billion, acquired a connection in Tokyo Chiyoda-ku, Tokyo Metro train station site, an area of over 50,000 square feet, the construction of Pacific Century, a 10-year single foreign investor in Japan The maximum investment. Japan's economy continues to decline but not materials, the rapid devaluation of land. Li Ka-shing was shot in a timely manner, and Wong's Pacific Century Group bought the land four into semi-Tokyo shares, let temporarily tide over the crisis.
But afterwards, Mr Li was still in August 2009, this project transferred to Shui On Construction and Materials, "to allow the Group to cash in funds to invest resources to focus on the Japanese island of Hokkaido and the southern Thailand province of Phang Nga with the development of landmark projects at the same time that Group's financial flexibility. "
Despite the delay in the start of the land, so that was monitoring unit PCPD penalties land department, and temporarily lost to Richard Li, in Beijing, the eligibility of land transactions, but a rough calculation, this time the project assignment, in order to bring Richard Li pre-tax income of about 235 million Hong Kong dollars. It is also because of the sale, to Pacific Century Premium consolidated net profit in 2009 reached 594 million Hong Kong dollars, compared with 5.13 million in 2008 increased by 16%.
Worrying that, according to the current layout of the PCPD that if sold in Pacific Century, the company will only Hong Kong, Japan and Thailand's property, in mainland China will become a "zero-project", the mainland property developers Way more full of variables.
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