Red Star Capital Bureau reported on May 21 that a luxury house in Hong Kong once held by Xu Jiayin, founder of Evergrande, or a related person, was sold at a price of about 470 million Hong Kong dollars. Compared with the market valuation more than a year ago, the price was reduced by 410 million Hong Kong dollars, nearly half of which was impaired.
The above property is House B, No. 10, Bulijing, which has been taken over by CCB Asia for a long time and was put on sale about a year ago. According to the China Securities Journal, for the successful sale, some insiders who did not want to be named said that the information was true.
According to public data, the above Hong Kong luxury houses were purchased by Xu Jiayin in 2010. They are three villas at No. 10, Brilliant Path, Peak. They are divided into Block B, Block C and Block E. The total market value of the houses purchased at that time was about HK $2.5 billion. In order to ease the financial dilemma, Xu Jiayin has mortgaged these three luxury houses successively.
The practical area of Block B, No. 10, Bulijing, Peak, is about 5171 square feet. After being taken over by CCB Asia in 2022, it will be sold to the public. It is said that dozens of buyers have received inquiries, but the deal has been delayed. The identity of the new buyer is not yet clear.
In 2009, the first year of Evergrande's landing in Hong Kong shares, Xu Jiayin bought three villas at the top of the mountain, namely Block B, Block C and Block E at No. 10 Bulijing. The market rumor was that at that time, the market value of each mansion was about 400 million to 500 million Hong Kong dollars.
After the explosion of Evergrande, Xu Jiayin mortgaged these three luxury houses successively to ease the financial dilemma.
In 2021, Block C and Block E villas will be mortgaged by Xu Jiayin to a lending company called Oulishi for financing. In October 2022, Xu Jiayin mortgaged Block B villa to China Construction Bank (Asia) as a grace for overdue outstanding bonds, which was formally taken over by China Construction Bank (Asia) in March 2023. After taking over, China Construction Bank (Asia) immediately sold the villa in the market by bidding. Although many buyers have consulted the property, they finally took it back because the intention (price) received did not meet the requirements.
In November 2023, Block C and Block E villas were also applied for takeover by creditors, and the market value of these two luxury houses once exceeded HK $1.5 billion.
Editor Yang Cheng Comprehensive from China Securities News and China Fund News
