Chapter 615 - Ridiculous Demand (1/2)
Chapter 615: Ridiculous Demand
Translator: _Min_ Editor: Rundi
“Yesterday at ht, all 200,000 units of level one property were sold out with an average sell price of 111,000 US dollars The highest final price was 300,000 US dollars” Xia shi+yu’s voice shook as she reported to Jiang Chen, but she still tried to keep a stern expression
She didn’t think that the project that burned through a lot of money would be so profitable
Before the construction was even complete, tens of billions were already in their hands and the majority of the capital cost was recovered
But she knew that the reason why the price was so high was partially due to the excessive coverage by theproifted Penglai City investh rooreat branded product has the fear of not selling, not to mention one that is still under construction
But Jiang Chen didn’t seem too pleased with the price
“The price is bolstered to 300,000 US dollars… it is al Chen was shocked
Based on his plan, even the level three property that would be open for sale were only starting at 200,000 US dollars The investors’ energy was hard to believe, but the price being bolstered too highter user’s ID to li able to only one level one or two properties, the average price probably would have doubled Because of the purchase restriction, it decreased the appreciation potential of the property,” Xia shi+yu said, pushi+ng up her glasses
“What about the level two property?” Jiang Chen nodded and asked again
There were 100,000 units of level two property with a bidding price of 50,000 US dollars; the size is 110-120 square et is the middle class
Xia shi+yu continued to report
“All level two units were sold with an average price of 217,000 US dollars; the highest price was 600,000 US dollars”
[An average price of 10850 RMB per squareprice of a new developed area? The location of the level two units are not even considered “city center” at all]
Other than the concepts of a high tech city, a tourisree of freedoate other factors such as quality of life, education, transportation, work environh Future Group accepted refunds, it was calculated based on the initial bidding price Therefore, if someone purchased a level two property with 600,000 US dollars, Future Group will only refund the starting bid of 100,000 US dollars, unless it will be sold to an investor willing to take over
“Some real estate developers proposed a partnershi+p opportunity; they are willing to purchase ten thousand units of both level one and level two properties at the unit price of 200,000 and 400,000 US dollars They also pro units to a price of 300,000 and 600,000 , as long as we agree to lift the purchase restriction and permit everyone to possess three units of level one or level two properties” Xia shi+yu continued
“The value created by a worker in a life tireater than the value created by a property We are creating an endless gold oldChen sighed
When he was creating Penglai, he didn’t plan tohousing prices was the fastest way to make money
But if he really wanted money, why not just make Future Group public?
This is the faster method With Future Group’s profitability, it can easily break the trillion mark…
Wall Street investors came more than once to hi Chen at the door of Future Building They wanted to convince hio public on NASDAQ and everyone believed Future Group’s market cap would sht too, so I rejected the Chen’s insistence of reht process
“You knowat her
“Ahehed and looked away so the problem with com, The Heart of the Sea, applied to enter Penglai These co, retail, and life sectors But some companies hoped that the renovation could be done by their own people because of existing contracts
“That’s not possible,” Jiang Chen shook his head “Penglai’s construction raphene, the construction and renovation can only be done with construction robots They’ll have to renegotiate the contract”
Xia shi+yu nodded
“The last is education We already sent out invitations to 12,300 top teachers from over one thousand schools ide But we didn’t receive very positive responses… they see internationally”