Chapter 175： World Financial Center
Yan's Garden is located in the city center. In the 1920s and 1930s, the residences of former dignitaries were mostly in the Xuhui area, while the big businessmen lived in the area of Yuyuan Road and Huashan Road in Changning District. In Yuyuan Road, travel is very convenient.
After coming here, Chen William and Ivanta asked about the current inspection situation in Modu after being warm.
"I think it is indeed a good opportunity now, and the policies we have received are unexpectedly good. A few days ago, I attended a meeting on investment promotion held by the local government department in Modu City. Most of the people invited were foreign-funded enterprises. It is said to encourage investment in infrastructure - of course, within the scope of foreign capital. And as far as I know, if we invest in the construction of buildings, the funds for the construction hardly have to be paid by ourselves, and they can completely help through loans. to proceed."
"Oh? Is it that good?"
"Do you think it's good? But the current global situation is not optimistic, so many companies will have concerns, fearing that the economy will continue to decline, and they will face losses after construction is completed, so the financial pressure they will bear will be great."
Ivanta said with some concern.
"Didn't we have plans for a long time? Now the purpose of the local government in China is to promote employment and tax revenue through construction, so there will be some preferential policies. After all, under the circumstances of this subprime mortgage crisis, various countries All hope to attract capital to invest locally. And I have confidence in the future economic development of China and the development of the real estate industry, so I think now is the best time to invest.”
Now that the decision has been made, Ivanta has contacted Modu to determine the investment intention.
Chen William accompanied him to study the plot given by the other party. At present, if a new building is to be built, it will either be demolished or a reserved land will be obtained.
However, the location of the reserved land is not particularly ideal. After thinking about it, Chen William felt that since Troup-Chen Business Management Company entered China for the first time, it would be better to have a shining opening so that he could improve himself in China. company's brand.
Therefore, he put forward the hope to carry out two aspects of work on the magic capital, one is to acquire at least landmark buildings and transform them into the headquarters building of Troup-Chen in China, and the other is to choose a potential land and start the construction company The second building in the magic capital.
This indicates that Chen William's company will not invest too little in Modu, so the other party's response is also very positive, helping them find the information of all the buildings in Modu, many of which , all of which William Chen was famous for a long time in his previous life.
In the end, William Chen set his sights on a skyscraper just completed in August 2008 - the Magic Capital World Financial Center.
This building is located in Lujiazui, the capital of magic, with a height of 492 meters and 101 floors above the ground. It is currently the second tallest building in China, second only to Taipei 101 Building, and it is also the tallest flat-roofed building in the world.
This building was built in 1995 by Japan Mori Building Co., Ltd. At that time, they joined more than 40 companies from Japan and the United States to invest in this project, with a total investment of more than 105 billion yen (nearly 1 billion US dollars).
At that time, Mori Building Co., Ltd. hoped to build the world's tallest building in Modu. The original design of Modu Global Center was 460 meters high, with a project plot area of 30,000 square meters and a total construction area of 381,600 square meters. It is adjacent to Jinmao Building. .
However, after the start of construction in early 1997, the construction of the building was affected by the Asian financial crisis, and the project was temporarily suspended.
The project resumed work in February 2003, but competition was fierce in the field of the world's tallest building. At that time, Taipei and HK in Huaguo were already building 480-meter-high skyscrapers, exceeding the original design height of the World Financial Center.
Therefore, Mori Building Co., Ltd. revised the original design plan and increased the World Financial Center by 7 floors, that is, 101 floors above ground and 3 floors underground, with a total floor area of about 377,300 square meters and a building height of 492 meters.
However, the magic height is one foot and the road is ten feet high. Taipei is also a chicken thief. A tower top was added to the 101 Building, so that the overall height of the building reached 508 meters, making it the tallest building in the world.
But in terms of the main building, the World Financial Center is still 12 meters higher than the Taipei 101 Building, and it is also the tallest building in the world.
At present, the top two tallest skyscrapers in the world are in China, but this record will not last long. When the Burj Khalifa in Dubai is completed this year, the height of 828 meters will leave these two buildings far behind.
However, at this time, if the Magic Capital Global Financial Center can be bought, it will definitely make a sensation in China and even the world, so that the reputation of Troup-Chen Business Management Company will be extremely high.
The question now is, will the other party sell it? Now is the subprime mortgage crisis. As a real estate industry, Mori Building Co., Ltd. must not have a good time, and from the fact that they were affected by the last Asian financial crisis and even stopped work for a few years, it can be seen that their funds are not so abundant. , so it's worth trying.
Hearing that Chen William was going to buy the Magic Capital Global Financial Center, the staff of the Magic Capital were also shocked. They had expected that Chen William might just buy a general building as an excess, and the main funds would be put into the new building. Above, I didn't expect that he would directly buy the tallest building in the mainland. This is a big business, and at this time, being able to help complete this acquisition is also a very famous thing for Modu.
Therefore, after confirming that Chen William was not joking, the other party also began to treat it with caution, expressing that he could help contact the other party to see if there is any intention to sell.
After returning to Yan's garden, Ivanta finally couldn't help her doubts and began to ask:
"William, are we really going to buy that building? You know, that building alone costs as much as $1 billion. Even in the midst of a global economic crisis, we want to win it, no less than $1.2 billion, or even $1.2 billion. Possibly over $1.5 billion!"
"I know, my dear, but it is undeniable that if you buy this de facto tallest building in the world, the reputation of our Troupe-Chen Business Management Company will soar immediately, and it will be a huge help in the marketing of our brand. The growth in brand value from here is huge.”
"I understand, William, but you know, we only have $600 million in our accounts. If there's going to be an acquisition, you're going to need debt to leverage the building."
"That's not a problem, trust me dear, you'll be amazed by the future earnings of this building."
After all, it is located in the core area of Lujiazui. In the future, both the overall value of the building and the rental income will be very rich, and there is no need to worry about losses.
"Gosh, that's a big move, honey."
Ivanta couldn't help sighing.
"This is also a rare opportunity, isn't it? Magic is the center of China's economy. Once we gain a firm foothold here, our development towards other cities will be extremely smooth."
In fact, as Chen William expected, the shareholders of the Mori Global Financial Center include Mori Overseas Corporation, an overseas company of the Mori Consortium, and Mori Global Financial Center Investment Co., Ltd.
The former invested 12.8 billion yen and held 51.2% of the shares; the latter was jointly invested by 33 banks, insurance companies, trading companies and other companies in Japan and other countries with 12.2 billion yen and 48.8% of the shares.
In the construction of the building, more than $850 million came from bank loans. Therefore, during the subprime mortgage crisis at this time, their financial situation has been deteriorating.
The parent company of Fangsen Overseas Co., Ltd., Japan Mori Building Co., Ltd., is owned by a well-known Japanese entrepreneur, Mori Minoru. He was born in a rich family. His father used to be the richest man in the world, and his younger brother was Japan's richest man Mori Minoru has always been interested in building skyscrapers, but Mori Building Co., Ltd. is currently in the process of building these skyscrapers. The total debt has reached 8 billion US dollars. Therefore, when the subprime mortgage crisis came, they The situation is also very bad. Its assets continue to depreciate, and it is burdened with huge debts. During the economic crisis, the company's revenue has dropped sharply. It can be said that it is not easy now.
The shareholders on the other side include 33 financial institutions and companies. The reason why the number is much less than the original nearly 40 is because some of them have gone bankrupt during the Asian financial crisis...
But now facing the subprime mortgage crisis again, their situation is equally good, and many institutions and companies are in danger of going bankrupt.
Therefore, whether it is the Mori Consortium or other participants, they urgently need funds to survive, so they are also very interested in Chen William's intention to acquire the Magic Capital Global Financial Center, and did not make them wait too long. It has been decided to start negotiations on the acquisition of the Magic Capital Global Financial Center.
This kind of specific negotiation, Chen William will not participate in it. He just discussed with Ivanta and set a purchase range of 1.2-1.5 billion US dollars for the building. If the price exceeds this price, it will not be considered. Temporarily buy other buildings as a transition, and build new buildings at the same time. After all, new buildings will be more popular in the magic capital, and those can stimulate the local economy.
American Road to Fame https://
After coming here, Chen William and Ivanta asked about the current inspection situation in Modu after being warm.
"I think it is indeed a good opportunity now, and the policies we have received are unexpectedly good. A few days ago, I attended a meeting on investment promotion held by the local government department in Modu City. Most of the people invited were foreign-funded enterprises. It is said to encourage investment in infrastructure - of course, within the scope of foreign capital. And as far as I know, if we invest in the construction of buildings, the funds for the construction hardly have to be paid by ourselves, and they can completely help through loans. to proceed."
"Oh? Is it that good?"
"Do you think it's good? But the current global situation is not optimistic, so many companies will have concerns, fearing that the economy will continue to decline, and they will face losses after construction is completed, so the financial pressure they will bear will be great."
Ivanta said with some concern.
"Didn't we have plans for a long time? Now the purpose of the local government in China is to promote employment and tax revenue through construction, so there will be some preferential policies. After all, under the circumstances of this subprime mortgage crisis, various countries All hope to attract capital to invest locally. And I have confidence in the future economic development of China and the development of the real estate industry, so I think now is the best time to invest.”
Now that the decision has been made, Ivanta has contacted Modu to determine the investment intention.
Chen William accompanied him to study the plot given by the other party. At present, if a new building is to be built, it will either be demolished or a reserved land will be obtained.
However, the location of the reserved land is not particularly ideal. After thinking about it, Chen William felt that since Troup-Chen Business Management Company entered China for the first time, it would be better to have a shining opening so that he could improve himself in China. company's brand.
Therefore, he put forward the hope to carry out two aspects of work on the magic capital, one is to acquire at least landmark buildings and transform them into the headquarters building of Troup-Chen in China, and the other is to choose a potential land and start the construction company The second building in the magic capital.
This indicates that Chen William's company will not invest too little in Modu, so the other party's response is also very positive, helping them find the information of all the buildings in Modu, many of which , all of which William Chen was famous for a long time in his previous life.
In the end, William Chen set his sights on a skyscraper just completed in August 2008 - the Magic Capital World Financial Center.
This building is located in Lujiazui, the capital of magic, with a height of 492 meters and 101 floors above the ground. It is currently the second tallest building in China, second only to Taipei 101 Building, and it is also the tallest flat-roofed building in the world.
This building was built in 1995 by Japan Mori Building Co., Ltd. At that time, they joined more than 40 companies from Japan and the United States to invest in this project, with a total investment of more than 105 billion yen (nearly 1 billion US dollars).
At that time, Mori Building Co., Ltd. hoped to build the world's tallest building in Modu. The original design of Modu Global Center was 460 meters high, with a project plot area of 30,000 square meters and a total construction area of 381,600 square meters. It is adjacent to Jinmao Building. .
However, after the start of construction in early 1997, the construction of the building was affected by the Asian financial crisis, and the project was temporarily suspended.
The project resumed work in February 2003, but competition was fierce in the field of the world's tallest building. At that time, Taipei and HK in Huaguo were already building 480-meter-high skyscrapers, exceeding the original design height of the World Financial Center.
Therefore, Mori Building Co., Ltd. revised the original design plan and increased the World Financial Center by 7 floors, that is, 101 floors above ground and 3 floors underground, with a total floor area of about 377,300 square meters and a building height of 492 meters.
However, the magic height is one foot and the road is ten feet high. Taipei is also a chicken thief. A tower top was added to the 101 Building, so that the overall height of the building reached 508 meters, making it the tallest building in the world.
But in terms of the main building, the World Financial Center is still 12 meters higher than the Taipei 101 Building, and it is also the tallest building in the world.
At present, the top two tallest skyscrapers in the world are in China, but this record will not last long. When the Burj Khalifa in Dubai is completed this year, the height of 828 meters will leave these two buildings far behind.
However, at this time, if the Magic Capital Global Financial Center can be bought, it will definitely make a sensation in China and even the world, so that the reputation of Troup-Chen Business Management Company will be extremely high.
The question now is, will the other party sell it? Now is the subprime mortgage crisis. As a real estate industry, Mori Building Co., Ltd. must not have a good time, and from the fact that they were affected by the last Asian financial crisis and even stopped work for a few years, it can be seen that their funds are not so abundant. , so it's worth trying.
Hearing that Chen William was going to buy the Magic Capital Global Financial Center, the staff of the Magic Capital were also shocked. They had expected that Chen William might just buy a general building as an excess, and the main funds would be put into the new building. Above, I didn't expect that he would directly buy the tallest building in the mainland. This is a big business, and at this time, being able to help complete this acquisition is also a very famous thing for Modu.
Therefore, after confirming that Chen William was not joking, the other party also began to treat it with caution, expressing that he could help contact the other party to see if there is any intention to sell.
After returning to Yan's garden, Ivanta finally couldn't help her doubts and began to ask:
"William, are we really going to buy that building? You know, that building alone costs as much as $1 billion. Even in the midst of a global economic crisis, we want to win it, no less than $1.2 billion, or even $1.2 billion. Possibly over $1.5 billion!"
"I know, my dear, but it is undeniable that if you buy this de facto tallest building in the world, the reputation of our Troupe-Chen Business Management Company will soar immediately, and it will be a huge help in the marketing of our brand. The growth in brand value from here is huge.”
"I understand, William, but you know, we only have $600 million in our accounts. If there's going to be an acquisition, you're going to need debt to leverage the building."
"That's not a problem, trust me dear, you'll be amazed by the future earnings of this building."
After all, it is located in the core area of Lujiazui. In the future, both the overall value of the building and the rental income will be very rich, and there is no need to worry about losses.
"Gosh, that's a big move, honey."
Ivanta couldn't help sighing.
"This is also a rare opportunity, isn't it? Magic is the center of China's economy. Once we gain a firm foothold here, our development towards other cities will be extremely smooth."
In fact, as Chen William expected, the shareholders of the Mori Global Financial Center include Mori Overseas Corporation, an overseas company of the Mori Consortium, and Mori Global Financial Center Investment Co., Ltd.
The former invested 12.8 billion yen and held 51.2% of the shares; the latter was jointly invested by 33 banks, insurance companies, trading companies and other companies in Japan and other countries with 12.2 billion yen and 48.8% of the shares.
In the construction of the building, more than $850 million came from bank loans. Therefore, during the subprime mortgage crisis at this time, their financial situation has been deteriorating.
The parent company of Fangsen Overseas Co., Ltd., Japan Mori Building Co., Ltd., is owned by a well-known Japanese entrepreneur, Mori Minoru. He was born in a rich family. His father used to be the richest man in the world, and his younger brother was Japan's richest man Mori Minoru has always been interested in building skyscrapers, but Mori Building Co., Ltd. is currently in the process of building these skyscrapers. The total debt has reached 8 billion US dollars. Therefore, when the subprime mortgage crisis came, they The situation is also very bad. Its assets continue to depreciate, and it is burdened with huge debts. During the economic crisis, the company's revenue has dropped sharply. It can be said that it is not easy now.
The shareholders on the other side include 33 financial institutions and companies. The reason why the number is much less than the original nearly 40 is because some of them have gone bankrupt during the Asian financial crisis...
But now facing the subprime mortgage crisis again, their situation is equally good, and many institutions and companies are in danger of going bankrupt.
Therefore, whether it is the Mori Consortium or other participants, they urgently need funds to survive, so they are also very interested in Chen William's intention to acquire the Magic Capital Global Financial Center, and did not make them wait too long. It has been decided to start negotiations on the acquisition of the Magic Capital Global Financial Center.
This kind of specific negotiation, Chen William will not participate in it. He just discussed with Ivanta and set a purchase range of 1.2-1.5 billion US dollars for the building. If the price exceeds this price, it will not be considered. Temporarily buy other buildings as a transition, and build new buildings at the same time. After all, new buildings will be more popular in the magic capital, and those can stimulate the local economy.
American Road to Fame https://
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