“Chongqing Li Ka-Shing” 10.1 billion to buy London’s skyscrapers have been clearing land on the Mainland

[Summary] on the CC results in 2016 will, Vice Chairman and Managing Director Lin Xiaowen said CC land beginning in the mid-2015 plan property for sale in the Mainland have been completed, currently of the has no land reserves. “One inch without leaving, all sold out. ”

Since 2014, Britain’s largest individual transactions on the real estate market was in Chongqing “Li Ka-shing,” Zhang Songqiao to 10.1 billion yuan in cash to win.

The evening of May 1, CC (01224. HK) said in a statement, the company’s indirect wholly-owned subsidiary to 1.135 billion pounds (about 10.1 billion) cash to buy equity in the Supreme loulide of the city of London, he’s building. The deal will include a liability, estimated to cost about £ 12.7 million. March 31, the building valued at about 1.15 billion pounds (about 10.2 billion yuan).

ZS bridge information

Told the financial times earlier reported that if the deal is completed, China will become the corporate real estate industry one of the largest takeovers in the UK. It will highlight China’s capital flows into real estate trends around the world.

ZS bridge, now 52, known as “Chongqing Li Ka-shing,” said, is who actually control the CC, now holds 60.47% shares in the company. In addition to CC land, he also was Chongqing-Hong Kong International (00613. HK), Chongqing is too real estate, HK (00032. HK) Chairman of several companies, such as, and silver grant (00171. HK), the Executive Directors of listed companies.

Bid lied he 46-storey building, offices and a retail floor area of approximately 610000 square feet (about 56,600 square meters), the current building’s annual rental income of approximately £ 402 million. This building because, like Westerners commonly used cheese plane, also called the cheese plane skyscraper (the Cheesegrater), by British Land and the Canadian real estate company Oxford Properties and common development, 224 metres high, on December 22, 2010, under construction, was formally completed in 2014, the building construction cost of £ 286 million.

CC land acquired two investment properties in 2016 as a whole, One Kingdom Street, London, United Kingdom respectively and Leadbeater he building.

One Kingdom Street spent about 290 million pounds takeover by the CC and rental yields of about 5% per year.

At present, the CC has been successful in overseas investment in acquisition of London One Kingdom Street he building, and Leadbeater (cheese plane skyscraper), in addition, the company also invested HK $122 million, owns 34.55% shares of an Office project in Australia.

CC to spend a lot on overseas acquisitions, show the capital strength of the company at the same time, its financial data company in 2016 are not satisfactory.

By the end of 2016, CC land asset value of approximately HK $14.636 billion, income of HK $1.129 billion, down about 83%. The reasons for the collapse in revenue, because CC land in 2016 only have three items can be recorded. Total liabilities of approximately HK $1.368 billion, net loss of approximately HK $356 million, an increase of approximately 73%, current liabilities amounted to HK $1.343 billion, the company held cash of HK $7.51 billion.

It is worth mentioning that, the surging News (www.thepaper.CN) cc land the 2016 annual report see current CC land in mainland China have no land reserves. Meanwhile, the company will also almost all the items sold on the Mainland. CC wrote in the annual report: as the Group about two years ago has predicted China’s second-tier cities property market uncertainties and risks, as well as the trend of weakness in China, has decided to restructure its business strategy, and led the company’s development across China, spread to other countries. Reduction of the Group’s success in almost all property projects in Western China, liquidate a considerable sum of money, the Group has sufficient financial resources to achieve its goals, investing in major cities around the world.

CC land results in 2016 at the meeting, Vice Chairman and Managing Director Lin Xiaowen said CC land beginning in the mid-2015 plan property for sale in the Mainland have been completed, currently of the has no land reserves. “One inch without leaving, all sold out. ”

Once the richest man in Chongqing, Zhang Songqiao always follow in the footsteps of Li Ka-shing, is going even further. In 2015 and 2016, continuous emptying company project in Southwest China.

CC land can be found in the annual report, in June 2015, the company began selling items, 2015 sold a total of 7 projects, HK $14.4 billion in cash. Since then, the CC continued to sell holdings in mainland projects.

In November 2016, CC land sold at a total cost of about HK $621 million from Xian Yuan industry limited all rights. February 2017 CC land and HK $207 million to sell the better all Tao International Limited, all rights.

After the retreat from the mainland market, said Lin Xiaowen, CC land to a developer in Western China to the internationalization of enterprise transformation.

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