Chapter 1497 - Super High
Chapter 1497: Super High
Translator: EndlessFantasy Translation Editor: EndlessFantasy Translation
Tianheng Holdings had always been a magical corporation in the hearts of many businessmen. It appeared out of nowhere and flourished everywhere. All of a sudden, it dominated the world by becoming the top household name in the field of department stores.
Today, would they be getting involved in the real estate industry?
“Hello, everyone. Welcome to the auction for the S-D plot of the South City Economic Development Zone. There are many well-known companies here today, and I believe you all know each other very well already. Allow me to introduce a new company today. With a comprehensive A-class qualification, this new company finally joins our auction today. Whether as a company or a person, I believe everyone is familiar with this name. This company is none other than Tianheng Holdings. At the same time, I’d like to thank the chairman of Tianheng Holdings, Ms. Nangong Nuannuan, for participating in this bid.”
Then, the auctioneer led the applause.
Everyone clapped along with him while still dazed by the surprising announcement.
Tianheng Holdings was a foreign business with extremely powerful funds. Previously, it had always been the CEO, Aiden, who was in charge of everything. Anyone from any major family planned to find out Aiden’s identity. However, this person built great defenses from getting scouted. Add to that Tianheng’s deep financial support, many people could not help but wonder who the boss behind Tianheng Holdings was.
Now that it had finally been revealed, everyone was completely stunned.
It was Nangong Nuannuan!
The granddaughter whom the Nangong family had acknowledged not long ago!
Five years ago, she should still be a child, right?
How did she manage to establish Tianheng Holdings and build it into what it was today?
Without giving everyone time to be shocked, the auctioneer continued, “Now, let’s get back to the main event of the day. South City Economic Development Zone, S-D plot is a dual-purpose plot of land for commercial and residential use. It has a total of xx hectares, with a capacity of xx%, and the largest building area is xxx hundred thousand square meters. This is the first time in five years that South City is able to auction off such a large plot of land. This is the time for the rapid development of real estate. Our population is gradually increasing, but the number of available lands is decreasing. I’m sure I don’t need to elaborate more on the commercial and residential utility of this plot of land. Based on the current land prices, the Licensing Department in the executive hall will offer a minimum price of 67000 per square meter, which is a total of 31.8 billion yuan. The specific details have been released before the auction. According to our rules, we will allow everyone 15 minutes to bid on this piece of land. Please write the amount you are offering on the iPad given to you and we will announce the highest bidder immediately. This plot of land will go to the highest bidder.”
The price of the building alone was 67000 bucks per square meter. After bidding for the land, the cost for manpower, construction fees, materials fees, and various administrative fees would have to be accounted for. There would definitely be an additional hundred thousand to be added to the cost. In addition, the developer would want to earn a little bit more from the sales margin. Based on the starting price, even if it was not being put forward in an auction, the building would be offered at 130000 bucks per square meter to sell.
Although 130000 bucks per square meter were not considered expensive in Emperor District, South City Economic Development Area was quite far from the city center. The public facilities were not considered complete, and it would take some time for this area to develop. Thus, 130000 bucks per square meter were considered expensive.
However, this was not the price offered at the auction.
Looking at the surrounding buildings, their sales prices were basically around a hundred thousand. This building complex would become a landmark after it was built, it would be normal for the average price to have an increment of twenty or thirty thousand bucks. However, if the price went up too high, it might ruin the building instead.
Initially, everyone thought that 30 billion would be enough to buy this plot of land. Now, the starting price was 31..8 billion, which directly exceeded the limit of many third-tier and second-tier wealthy corporations.