Every reporter Liu Songhui Every editor Wei Wenyi
On the afternoon of May 23, Cheung Kong Group (HK01113, stock price 34roshmegaways. 55 Hong Kong dollars, with a market value of HK$121.3 billion) held the 2024 annual shareholders 'meeting. Group Chairman and Managing Director Li Zeju said that as a listed company, Cheung Kong GrouproshmegawaysThe responsibility of the Group is to strive for returns for shareholders. The most important considerations for every investment made by the Group are the quality, robustness and return of the project, and the most important is "counting". "We do not choose investment locations, but choose investment projects, as long as there are high-quality assets with ideal returns, whether in Hong Kong, the mainland or other places.roshmegawaysHe will consider everything."
After Hong Kong's property market was completely "lifted"(that is, on February 28, Hong Kong abolished the 14-year-old "hot measures" in the property market), many local developers promoted properties at lower prices. For example, the Huangzhukeng Blue Coast (South Bank of Hong Kong Island) project under Changshi Group has experienced a situation of "buying properties at a discount". Compared with the surrounding second-hand housing prices, the project is equivalent to a 30% discount and a 22% discount to cost prices. In addition, the selling price of Cheung Kong Group's residential project "#LYOS" on sale in Hongshuiqiao, Northwest New Territories has once again been discounted by 25% from the initial price.
In this regard, Li Zeju said,"The pricing of real estate cannot be generalized. The pricing is determined according to the different conditions of each property, including location, transportation, surrounding environment, and the market environment at that time." He believes that Hong Kong's local property market has always had rigid demand and its long-term development is still supported. After the "elimination of hot food", the local property market will continue to be dominated by housing policies and interest rates.
"Economic Daily News" noted that on May 21, the Hong Kong Buildings Department approved 15 building plans. Among them, Cheung Kong Group was approved to build a 38-story (including a 33-story upstairs and a 5-story platform basement) commercial and residential building with a total floor area of approximately 12roshmegaways.90,000 square feet (1 square foot ≈0.09290304 square meters).
The project land was acquired by Cheung Kong Group in December 2022 for HK$1.161 billion. It has a total floor area of approximately 121,000 square feet, and the residential portion accounts for more than 100,000 square feet. It is estimated that it can provide approximately 200 suites with a floor price of approximately HK$9554/square foot.
At the shareholders 'meeting, in response to the question "Why is the return on investment in infrastructure better than real estate?" Li Zeju admitted that it is difficult to make a direct comparison between two different industries. For the natural gas network companies and environmentally friendly energy projects recently acquired by the company, the return rates are both in double digits. "Today, the land prices and construction costs of real estate projects are high, and interest rates have always remained high. It is not easy to obtain double-digit annual returns from the real estate business."