Rebirth 1983: Building My Business Empire

Chapter 476 - 476 464 Real Estate Promotion

?Chapter 476: Chapter 464: Real Estate Promotion Chapter 476: Chapter 464: Real Estate Promotion Wansheng Real Estate’s new development in Causeway Bay was set to launch in July. Property prices are rising, with housing prices different every month, all climbing. However, Nie Zhan did not raise the price for this project; it was still sold at the price it was three months ago.

By mid-August, when the project in Mong Kok launched, they lowered the price by 20 Hong Kong Dollars per square foot for bottom-floor and less desirable units. Not only that, but there were also raffles to give away gifts, and anyone who bought a flat could get a souvenir when they left.

This news spread quickly, and many people thought Nie Zhan had gone mad. Some speculated that Wansheng Real Estate might be having cash flow issues because, otherwise, why would they reduce prices in a booming property market? When reporters interviewed Nie Zhan, he said the company had a relatively high debt ratio and wanted to recoup some funds earlier to pay off part of the debt.

As Wansheng Real Estate had incurred a great deal of debt through aggressive land purchasing, its debt ratio had soared to 68%, far above the normal level. Such an explanation from him seemed plausible to the public.

Hu Zhifeng had long advised him against such a high debt ratio and felt that his advice had taken effect when he saw Nie Zhan raising funds to pay debt. Tao Yong simply asked for two sets of flats in Mong Kok for his girlfriend Shi Xinyu at an internal price from Nie Zhan.

After buying the flats, Shi Xinyu immediately called Lu Jiaxin, “Jiaxin, do you know what I won? I got a gold necklace.”

The prizes prepared by Wansheng Real Estate were varied, including electric fans, rice cookers, gold necklaces, and the grand prize was an air conditioner.

Lu Jiaxin said with a smile, “You’re that lucky?”

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