Why has Huo Yingdong’s 30,000 acres of land in Nansha not been developed? What are the Huo family waiting for?

In the past few years, Li Ka-shing has caused huge controversy because he relied on slow development and hoarded land on the sidelines in Beijing, Shanghai, Wuhan, Chengdu and other places. Li Ka-shing enriched his wallet, but greatly affected the development of the city. The city introduced Li Ka-shing in the hope that Li Ka-shing would become a leading figure and attract more consortiums to invest in the city. However, the result was the opposite. Li Ka-shing took a lot of land and it took 20 years to develop it.

In fact, this kind of controversy also exists among the Fok Ying-tung family, another wealthy family in Hong Kong. Huo Yingdong served the country and the people throughout his life, and he was naturally impeccable. His contribution in the Korean War and his subsequent contribution to China's sports, education, and economic development were also huge. But Huo Yingdong’s biggest controversy is in Nansha. Why do you say that?

Nansha’s achievements today are naturally inseparable from Huo Yingdong. It's just that Huo Yingdong's 30,000-acre piece of land in Nansha has not been developed, but it has caused huge controversy. Some Nansha people say: The Huo Yingdong family has not developed this land, but it has greatly slowed down the development of Nansha.

Nansha covers an area of ??780 square kilometers, and Huo Yingdong holds 22 square kilometers. Although the proportion is not high, less than one-third, Huo Yingdong’s 22 square kilometers are the essence of Nansha. , all concentrated in Nansha Bay, and has 7 kilometers of golden coastline.

These lands are in the hands of the Huo family, and the Huo family has been reluctant to develop them. Guangzhou has no choice but to quickly make unified plans for Nansha, and even many plans have to avoid this huge piece of land. So why hasn’t the Huo family developed it? What is Huo Yingdong's original intention?

In 1993, Huo Yingdong cooperated with Panyu locals to develop this 22 square kilometers of land, equivalent to 30,000 acres, with Huo Yingdong's family company holding 51% of the shares. How much did Huo Yingdong spend on buying land? Some people say that it is only 600 yuan per mu, but there is another source that says 60,000 yuan per mu. From a rational analysis, 60,000 yuan per mu should be more likely. In other words, Huo Yingdong spent a total of 1.8 billion to buy these lands. Accounting for 51% of the shares, this means that Huo Yingdong’s investment should be about 900 million.

However, from 1993 to now, these lands have not been moved. Huo Yingdong’s original intention of acquiring these lands was definitely not to raise the price. Because Huo Yingdong invested billions of yuan in the early stages of Nansha's development regardless of returns. Most of the more than 20 investment projects were aimed at increasing the popularity of Nansha, with almost no financial returns.

In 1997, Huo Yingdong decided to transfer all the interests in Nansha held by the family company to the Huo Yingdong Charitable Foundation at a price of 1 yuan. This further made people see that Huo Yingdong was not developing Nansha for selfish reasons, but for real support. development of the country.

The reason why Huo Yingdong did not develop this prime land in the early stage is probably because the overall development of Nansha has not yet taken off, so the value of this land has not been truly reflected, so it has not been moved. Huo Yingdong's initial focus in Nansha was to develop infrastructure, including building roads, bridges, etc. In this regard, Huo Yingdong invested huge funds. The second step was to attract more people to Nansha for development, so Huo Yingdong invested in Nansha University. Hotel, Yingtung Middle School, World Trade Center Tower, etc.

That is to say, before 2003, the value of the entire Nansha was not highlighted, so whether to develop this land was not a problem. After 2004, Huo Yingdong suffered from cancer for the second time. From 2004 to 2006, Huo Yingdong continued to receive treatment and was in a coma for a long time. Huo Zhenting later recalled: Every time Huo Yingdong woke up, he would always talk to people around him about Nansha. Huo Yingdong's last public appearance before his death was also at a high-level meeting of the company to discuss the future development of Nansha.

Huo Yingdong talked alone for more than an hour, not paying attention to his body at all. There is no doubt that Huo Yingdong is determined to develop Nansha Quanquan. Huo Yingdong passed away in 2006, and then the development of Nansha was delayed again. Since 2011, the Huo Yingdong family has been involved in internal fighting. The 10 sons have been fighting over Huo Yingdong's family property. Who has the heart to develop projects in Nansha?

After Huo Yingdong’s death, the Huo family’s investment in Nansha began to stagnate. After Huo Yingdong's death, the Huo family's investment in Nansha was far less than what it was during Huo Yingdong's lifetime. The money Huo Yingdong earned from other businesses during his lifetime continued to hit Nansha.

Nowadays, most of the projects in Nansha are still unprofitable, and the Huo family's other businesses are not as good as before. Naturally, they cannot continue to provide blood transfusions to Nansha.

During the infighting of the Huo family in 2013, one thing was also exposed, that is, when Huo Yingdong transferred the Nansha rights and interests to the Huo Yingdong Charity Foundation in 1997, he also left a foreshadowing, that is, in 2007 Previously, Fok Ying-tung’s family company had the right to repurchase at the same value.

However, after Huo Yingdong’s death, the executor of his estate did not repurchase it before 2007. In 2013, Huo Zhenyu said that his second brother Huo Zhenhuan had concealed the buyback, questioned the legality of the buyback, and filed a lawsuit. This lawsuit has been dragged on by the Hong Kong courts and has not yet been heard.

Because of ownership issues, this 30,000 acres of land has been delayed. It was previously reported that the Huo family was planning to develop the project together with the subway line, but the result was that the project fell through. In fact, you will know when you look at the investment ratio. The Huo Yingdong family's total investment in Nansha does not exceed 8 billion, but they occupy the best part of the land. Today, tens of billions of dollars are needed to build a subway. Xu Jiayin invested 150 billion in the new energy vehicle factory in Nansha. The investment in these projects far exceeds the investment of the Huo Yingdong family in Nansha.

But in the end, no matter what investment is made in Nansha, the biggest beneficiary is the Huo Yingdong family, because they own the core land, and it is a land area of ??22 square kilometers. What is the concept of 22 square kilometers of land? The entire area of ??Macau is only 32 square kilometers.

In fact, the Huo Yingdong family has obviously been leaderless in the past few years. The eldest son Huo Zhenting is not involved in business and is only responsible for sports. The second eldest son Huo Zhenhuan and the third eldest son Huo Zhenyu are not fuel-efficient. They all work on their own and no one obeys the other. The second and third bedrooms were not allowed to participate in the business, which resulted in a talent gap in the Huo family.

Although Huo Yingdong has great talents and plans to carry forward the past and open up the future, his sons may not have his talents and mind. In fact, it may be a bit overwhelming to develop such a large area with the strength of the Huo family. Mainland real estate consortiums are now developing very rapidly. The strength of leading companies such as Evergrande, Wanda and Country Garden far exceeds that of Hong Kong. As a real estate leader, in fact, if the Huo family really wants to actively support the development of Nansha, they should have an open mind. However, whether this land belongs to the Huo Yingdong Charitable Foundation or the Huo Yingdong family, it should be opened to other powerful consortiums and everyone can develop it together. That is the best support for Nansha.