Chapter 519: Chapter 478: Did It Fail to Sell?_1
 

Nine Ye’s real name is Chang Weimin, a good name. Because he was ninth among his cousins, they nicknamed him Chang Jiu. He used to be a substitute teacher in a rural area in Quanhai City. However, due to issues regarding inappropriate relations between male and female, Chang Jiu was dismissed.

After moving to Wanghai, he partnered with Lin Zhengxing by a stroke of luck. One could say that the current status and achievements of the Eastern Sea Group cannot be separated from Chang Jiu’s hard work.

Naturally, as his position rose, Chang Jiu transitioned from Jiu to Nine Ye. Listening to Lin Zhengxing’s words now, Jiu Ye furrowed his brows. Looking at Lin Zhengxing’s spirited appearance, he hesitated before giving voice to his doubt, “Brother Star, what are you implying? Are we going to compete with Jiasheng Real Estate for the land in Moon Lake Bay?”

Lin Zhengxing frowned, unhappy with Nine Ye’s questioning. For nearly a decade, the Eastern Sea Group dominated Wanghai, establishing relationships with and corrupting local officials through understanding networking techniques, thereby managing to court higher-ranking leaders. One could say that in Wanghai City, Eastern Sea Group was the sky. What did the Secretary to the City Party Committee amount to? When faced with Lin, they were always polite. Even the arrogant Shi Yiwu had to graciously express his gratitude, stating that Lin considered their welfare more than their own parents.

All of these factors combined, led Lin Zhengxing somewhat astray. Looking at Chang Jiu, Lin Zhengxing spoke firmly, “Ajie, did you not understand me? Moon Lake Bay is a good location. Anything that I, Lin Zhengxing, fancy can’t escape me. I don’t care who they are. In Wanghai, dragons curl up for me and tigers lie down for me. This time, I am determined to obtain the land in Moon Lake Bay. Ajie, go send someone to participate in that auction.”

Lin Zhengxing’s authoritative words seemed to sober up Chang Jiu. As second in command, he was aware of his position under the boss. Affectionately called “Fei Xing”, “Lord Star” by those who knew him, Lin Zhengxing was the top dog. Without the Boss’ support, he’d be nothing more than a rich man with no influence.

Besides, Chang Jiu knew Lin Zhengxing well. Years ago, a famous female singer was invited to spend the night with the boss for a million dollars. Subsequently, many scandals were used as blackmail. Lin Zhengxing was a man of action, unafraid to speak or act out his thoughts.

Taking this into account, Nine Ye realigned his mindset. After some thought, he said, “Brother Star, from the message relayed by Deputy District Chief Sun from the Wanghu District, Zheng Shaonan from Jiasheng Real Estate has been selected to participate in the auction. It was said that when Nie Zhenbang was still working in Liangxi City, he had a favorable impression of Zheng Jiawei, but they could not collaborate successfully at that time. This time, Nie Zhenbang seems to have high hopes for Jiasheng Real Estate. He has also organized a project leadership team in conjunction with the Wanghu District and Municipal Bureau of Land and Resources to specifically handle the matter.”

Upon hearing this, Lin Zhengxing visibly darkened. He muttered cynically, “Nie Zhenbang again? I thought he was some incorruptible and upright official. Who knew? In reality, he’s as dark and corrupt as any other. I wonder why he was always so hostile towards the Eastern Sea Group. It turns out he had other partners.”

Lin Zhengxing looked disdainful at this moment. After a brief pause, he made a decision, “Ajie, I don’t care about Jiasheng Real Estate or the fact that Nie Zhenbang favors them. This Moon Lake Bay, I must fight for it.”

Boss’s character, Chang Jiu understood, he was a man of his word, decisive, and promptly agreed, “Yes, Brother Star, since you’ve made the decision, I’ll get right to it. The current market value of the land at Moon Lake Bay is about 1.8 billion. Jiasheng Real Estate is keen on improving relations with Nie Zhenbang. I suspect they might fight for it at all costs. If we decide to compete, I estimate the cost will be between 3 to 5 billion.”

Chang Jiu was indeed a competent man. His estimate was exactly the same as Jiasheng Real Estate’s evaluation. Jiasheng Real Estate was a professional and supremely familiar with auction, bidding, and listing procedures. Eastern Sea Group’s main business was electronics. The real estate though, secondary, was managed excellently due to Chang Jiu’s proficiencies.

Hearing this estimated cost, Lin Zhengxing froze. Five billion was not a large sum for Lin Zhengxing at this stage in his career. However, Lin Zhengxing had come up from the grassroots. He was extremely frugal from his early days of delivering spare parts on his bicycle. His thrifty habits were not easy to break.

Lin Zhengxing was generous when it came to entertainment and bribery. But he would struggle to run a legitimate business.

The Eastern Sea Group’s real estate enterprises in Wanghai City owned almost six million square meters of land. Of this, around two hundred thousand square meters were allocated for warehouses and docks. Approximately three hundred and seventy thousand square meters were industrial land. The rest, over five million square meters, were commercial and residential lands. The Eastern Sea Group’s under-construction project, Yahai Building, was designed to be fifty-nine stories high. Upon completion, inclusive of the rooftop antenna, it would stand two hundred and twelve meters tall, symbolizing the supremacy and majesty of the “nine-five supreme”. It would later become a landmark building in Wanghai City.

However, all these lands were obtained at the lowest possible prices. There wasn’t a single piece of land that had been bought under full compliance with the law.

“Ajie, never mind the auction. Send a few men to register some companies. Give each of them one million as a deposit. There’s only one task for them: disrupt the auction. I’ll figure out what to do afterward,” Lin Zhengxing paused for a moment before making his decision.

Hearing Lin Zhengxing’s words, Chang Jiu let out a bitter smile. It appeared that the boss had plans to manipulate the situation again in his favor. No one in the Wanghu District expected that someone would be willing to pay one million to disrupt the auction.

No surprise, this was the first instance of land auction in Wanghai City. When they set the deposit amount, no one anticipated disruptive behaviors. In fact, following the proper auction procedures for the land valued at 1.8 billion would require at least ten million or more in deposits. Had that been the case, Lin Zhengxing would not have been so receptive.

…

Time flies by.

It’s the 8th of December. The end of the year 1998 is just around the corner. In a few short weeks, it will be 1999. At this moment, inside the third-floor conference room of the Wanghai Municipal Bureau of Land and Resources’s Land Resource Trading Center,

Quite a few people have already gathered. Leaders from the Municipal Land Bureau, the Municipal Finance Bureau, the Municipal Planning Bureau, and the Municipal Construction Bureau, along with some leaders from the Wanghu District Party Committee and District Government, are all present. This is the first public land auction in the history of Wanghai City. For this occasion, Carlsberg Auction’s top auctioneer from Donggang was even specially invited to lead the auction.

At nine in the morning, representatives from Jiasheng Real Estate and several other companies attending the land auction were all seated. By this time, Nie Zhenbang has also walked in. Considering his first significant project in Wanghai City, Nie Zhenbang took it very seriously.

This auction is crucial and representative because, apart from being a public auction, Jiasheng Real Estate will introduce a new mode of operation in the field of real estate construction and development. In the past, the Eastern Sea Group had developed real estate in Wanghai City without considerations for affordable housing and house demolition. They typically took the money and walked away. But now, Nie Zhenbang’s approach allocates a certain amount of affordable housing based on the lot’s area size. This new model was very successful in Liangxi City. Remembering the soaring housing prices in the future, Nie Zhenbang hopes to curtail this trend from now on. With affordable housing, the housing needs of low-income people can be better protected.

Upon seeing Nie Zhenbang walk in, a group of officials greeted him. But Nie Zhenbang simply smiled and said, “Everyone, please sit. I’m here as an observer. The auction is the main event.”

After Nie Zhenbang had situated himself, the auctioneer from Donggang took the stage. After a comprehensive presentation on the Moon Lake Bay plot and its geographical advantages, the auctioneer, speaking in a Hong Kong-style Mandarin, asked, “The total estimated price for the Moon Lake Bay plot is 180 million. The method of auction is an increased bid competition. Each bid increase must not be less than one million. The starting price is 150 million. Is there anyone who will offer 150 million?”

“Good, the gentleman at table number 8 has bid 150 million…one, five, zero, eight. Mr. Eight is indeed generous…”

“Excellent, the lady at table number 2 has bid 160 million! 160 million for the first time…”

“The gentleman at table number 9 has bid 180 million.”

The early rounds of bidding saw these large increases. The land of Moon Lake Bay is valuable in itself, but in Wanghu District, which is being heavily developed, Moon Lake Bay has the potential to become a golden area of Wanghai City, an area with significant possibilities for advancement. It’s natural for people to bid so exuberantly.

“270 million is the latest bid. Mr. One, your bid is 270 million. 270 million for the first time, 270 million for the second time… 270 million!”

Just as the auctioneer was about to bring down the hammer, and Zheng Jiawei was about to secure Moon Lake Bay for 270 million, a profit in his eyes,

A sudden voice rang out, “350 million!”

Zheng Jiawei’s brow furrowed at the new offer of 350 million, which was rapidly approaching his limit. According to evaluations by his company’s professionals, including potential increases in value, the land was worth, at most, 430 million. This was the limit. After thinking for a moment, he raised his hand and said, “430 million.”

This was Zheng Jiawei’s strategy, he increased his bid by 80 million at once, hoping to scare off his opponent.

However, as soon as he finished speaking, the contestant in the 4th seat calmly said, “500 million!”

At this point, all Zheng Jiawei could do was shake his head. While 500 million was worth it, turning a profit would take at least five years. This was a wait that Jiasheng Real Estate could not afford.

In the end, the land was sold for 500 million. The man at table 4 stood up, gave Zheng Jiawei a smug glance, and followed the staff out. According to the regulations, he would now pay 50% of the final price.

However, about ten minutes later, as Nie Zhenbang was preparing to leave, a worried-looking Lin Chunnan, Secretary of the Wanghu District Party Committee, came out and quietly said, “Mayor Nie, the bidder has broken the agreement.” (To be continued. If you enjoy this work, please vote for it at qidian.com. Your support is greatly appreciated!)