Chapter 596 - 579: Recouping a Large Amount of Funds
Lu Jiaxin originally thought that selling over four hundred units would take at least a month or two, but unexpectedly, they sold out in just over half a month, with more than 150 units at DLG Towers selling out first.
Lu Jiaxin gained a deeper understanding of the Hong Kong property speculation team.
Chen Ming reported the sales situation to her, mentioning that the DLG Mansion was sold for 3.2 billion. The initial purchase was made with a 30% down payment, with the remaining 70% financed by a bank loan. Since there was still a piece of land left unsold, Xinxin Real Estate repaid the bank 1.3 billion, leaving 400 million unpaid, meaning that the DLG Mansion project recovered 1.9 billion in funds. The high-end apartments and residences in Sham Shui Po and Causeway Bay together sold for 2 billion, repaid bank loans of 880 million, and recovered 1.12 billion in funds.
Lu Jiaxin calculated in her heart that the properties sold this time recovered a total of 3.02 billion.
Chen Ming nodded and said, "Yes, 3.02 billion recovered, with 190 million originally in the account, so the company now has a total of 3.21 billion on the books."
They are a property rental company, so leaving several tens of millions for operating expenses on the books is sufficient. Thus, these funds will be transferred out before long.
Lu Jiaxin asked, "What were the costs, and how much was earned?"
Chen Ming smiled and said, "For the DLG Mansion project, after deducting subsequent taxes and the like, we made a net profit of 1.02 billion from these two luxury buildings."