Chapter 595 - 578: Massive Property Sale
The two buildings of DLG Mansion, with over 150 luxury units, 120 high-end apartments in Sham Shui Po, and 160 high-end residences in Causeway Bay, she plans to sell them all.
General Manager Chen Ming was taken aback: "Boss, DLG Mansion is prime property, once you sell, you can’t buy it back."
Selling the apartments in Sham Shui Po and Causeway Bay is acceptable, as they can be replaced with properties in better locations with better facilities. But the luxury units in DLG Mansion have tenants of status, bring high rental income, and have appreciated significantly in the past six months. With the real estate market booming in Hong Kong, the prices at DLG Mansion are certainly on the rise; selling now would be too much of a loss.
Lu Jiaxin said, "I have a major project in hand and currently lack funds, so I need to recoup some of it. Selling the two buildings of DLG Mansion, but not the land; I’ll build a third building in a few days."
Xinxin Real Estate is Lu Jiaxin’s private asset, and selling it is just a matter of her word. Chen Ming fulfilled his duty by analyzing the pros and cons for her, and seeing her determination, he no longer objected.
The next day, Xinxin Real Estate released news that they intended to sell the high-end apartments and residences in DLG Mansion, Sham Shui Po, and Causeway Bay.
The Hong Kong people love to speculate on everything; with the real estate market booming, many are speculating on properties. Seven out of ten property buyers are speculators, which is not an exaggeration in Hong Kong. Upon hearing that Xinxin Real Estate was releasing so many premium properties, an agent immediately rushed over to reserve ten units. He would reserve more if he had more money.
Upon receiving the news, people rushed to Xinxin Real Estate, and for a while, the reception hall was packed with people unwilling to leave even after closing time.