Xu Rongmao: The Richest And Richest In Shanghai

Xu Rongmao: Fortune: 6 billion yuan age: 51 years old: birthplace of Fujian: Shishi education background: MBA main company: the headquarters of Shimao Group: Hongkong, Shanghai, Beijing, the first securities market financing: Shanghai (October 2001): main industries: Hongkong, Shanghai, Beijing, Fujian real estate, Xu Rongmao, from textile trade, and entered the real estate development in the late 80s.

Now Shimao Group is one of the largest real estate developers in China. They have important real estate projects in Fujian, Beijing, Shanghai and Hongkong.

Shimao Group's largest project now is to invest 6 billion yuan in the development of Shimao Binjiang garden in Shanghai, which will be the highest residential area in the country.

Xu Rongmao's entrepreneurial experience has gone through the process of going to Hongkong and investing in Fujian hometown to Beijing gold mining in the real estate market.

This process enabled Xu Rongmao to complete the accumulation of huge wealth, and let Xu Rongmao complete the pformation from "wage earners" to "Billionaires".

Some people say that career is not easy at the beginning, but once you accumulate potential at the beginning, your career will probably catch up with its rapid development.

Xu Rongmao, who is nearly 30 years old, arrived in Hongkong at the end of 70s. At that time, he was no more than an ordinary "wage earner".

Years of diligence have begun to save him, but he has not found his own gold mine in these general industries. He is still just an ordinary dreamer, and mythical success has not happened to him.

Later, he intervened in the securities market, which had never been touched before. In an accidental opportunity, he found that he had sharp judgement and talent in investing in this area, so he decided that the industry would be the world of his own talent.

Xu Rongmao began to write his history.

It is like a bucket full of thread, and only a thread is drawn out, the whole thread will come out one after another.

Since then, Xu Rongmao's small savings have been on the fast track of rapid doubling. In recent years, "buy and sell" has earned him the first pot of gold that laid the foundation for his later career.

According to later projections, the pot of gold should be at least 500 million yuan.

When personal funds reach a specific quantity, they often hope that it will generate more benefits and play a greater role.

For Xu Rongmao, it may take a lifetime to keep such a pot of gold, but he is considering how to further increase his wealth.

He realized that the money in the stock market was quick and easy to go, so he decided to get away from business and solidify the money in a more secure way.

I want to do that.

Around 1988, he invested in the establishment of a textile mill in Hongkong.

Later, considering the low cost of the mainland, he built more than 5 factories to the mainland. The locations were selected in Shenzhen and Lanzhou. They all made textiles and garments, and the products were mainly exported to the United States.

Xu Rongmao's career map has since been extended to the mainland.

When Xu Rongmao returned to his hometown, he did not make any more textile and clothing. He decided to invest in real estate.

This is a major strategic decision, because when Xu Rongmao stepped into the same high risk area as the stock market, he found he was no longer able to get out of it. There were projects to bother, planning to consider, capital to run, and risk to prevent.

At the end of the 80s, in Shishi, Xu Rongmao launched a series of development plans. In the process, due to the uncertainty of the domestic situation and the safety of her own investment, Xu Rongmao once slowed down these projects in the mainland, and in 1991 he brought her wife to Australia.

Xu Rongmao has been unable to concentrate on real estate.

In Australia, he continued to prove his understanding of real estate and invested a lot of money in real estate in Sydney and Darwin.

This time he succeeded again, and he was awarded the honorary title of "gentleman of peace" because of the influence of the Chinese society in Australia and his outstanding contribution to the local society.

However, his complex is still in the country. Once the policy is clear, it will soon come back again.

In 1993, in Wuyishan, Fujian, which has just won the "world natural and cultural heritage", Xu Rongmao purchased 500 acres of land by tender and invested 200 million yuan to develop tourist resort areas.

It is said that the investment return rate of the development zone is over 50%.

The name of Xu Rongmao is quite strange to the average person.

Because for the media and the public, Xu Rongmao has always been low-key. He thinks what he has to do is to do what he should do and decide what to do in silence.

However, as an entrepreneur, he is deeply aware of the importance of policy to an enterprise and the importance of communication between government and enterprises.

Therefore, people who know something about Xu Rongmao say that he has the best relationship with local officials when they listen to government officials.

Is this Xu Rongmao's way to make a fortune?

Xu Rongmao, who was quietly trapped in the Beijing market in the 1995 when the real estate market was in an extremely low period, was now worried about many real estate developers in Beijing.

And Xu Rongmao made an extraordinary effort to get the 100 thousand square meters of land that many people dreamed of.

In 1997, the "Beijing Australia center", which was once again triggered by the real estate industry in Beijing, opened up 200 thousand square meters. At that time, it was a risky business. But the quality of Xu Rongmao's real estate has really opened up a vision for the people of Hong Kong.

When the real estate industry ends in winter, it seems that it is still in the air, but Xu Rongmao's investment is still no sign of braking.

Then, 160 thousand square meters of Zizhu garden and 200 thousand square meters of imperial garden have been launched. The cumulative investment of several projects has exceeded 4 billion yuan.

Xu Rongmao at this time has gradually formed a mature investment concept. What he does in Beijing is all high-end export apartment.

According to the current calculation, Xu Rongmao accounted for more than 1/3 of Beijing's high-end residential market.

He invested 3 billion yuan to build a 333 meter high 60 storey high-rise building with shopping malls, offices and hotels. The plan of Wanxiang International Plaza in Shanghai is being implemented.

The implementation of this plan is "Shimao investment", and "Shimao investment" is Xu Rongmao.

In August 2000, Shanghai Vientiane group, a listed company whose performance declined all the way, suddenly announced that it had officially changed its largest shareholder: Shanghai Shimao Investment Development Co., Ltd. took over 26.43% of the total share capital of Vientiane.

In February of this year, Vientiane group changed its name to "Shimao shares". It was known as Heng Yuan Xiang, and the old commercial stocks in Shanghai changed from Shimao shares to commercial real estate.

With the development of events, "Shimao investment" has become more and more clear to the people of Shanghai.

The registered capital of 300 million yuan, established in March last year, Shanghai Shimao investment company, seems to be running in a mess, but it is actually a treasure land to Wanxiang. It is located in the most prosperous section of Nanjing Road, and a block of 140 thousand square meters opposite the 100th store in Shanghai.

Here, Vientiane and Shanghai DHK voted to build a Puxi second high building with a 55% and 45% investment.

As Shimao took over the investment ratio of Vientiane and later Shimao to invest in Shanghai, the project was unknowingly changed hands.

In the middle of this year, when a pre-sale of the "Shimao Binjiang garden" next to Lujiazui attracted the queuing hot scenes, people realized that the investment of Shimao is a real estate predator who sneaked into Shanghai.

The project, which covers an area of 220 thousand square meters, is expected to invest more than 6 billion yuan, and the demolition fee will cost 1 billion 800 million yuan.

Now, the industry in Shanghai is talking about "high-grade residential". It must be called "Shimao Binjiang". The 6 high-rise apartment buildings and 1 60 story hotels and 70% apartment buildings have fully demonstrated the investment concept of Xu Rongmao. This is the most luxurious building in Shanghai.

According to the valuation of Shanghai Price Bureau, the total cost of construction and cost of decoration and indoor gift equipment in Shimao Binjiang garden is 10037 yuan per square meter, and the average price per square metre is 1600 dollars at the time of sale.

Facing the bright lights of the Bund and facing the Oriental Pearl Tower, the Jinmao Tower and the Shanghai International Conference Center, the Shimao Binjiang garden is an excellent location. For a time, Xu Rongmao's vision and unique spirit became the focus of discussion.

Everyone knows that it is not easy to get a municipal renewal project in such a district.

This is far from the end of Xu Rongmao's investment in Shanghai. In Jinqiao, he delineated 200 thousand square meters of land and plans to invest nearly 2 billion yuan to create "Lakeside Garden".

Xu Rongmao is a big family. He can invest several times in a relatively short time.

So where did so much money come from?

Xu Rongmao's son Xu Shi Tan said that most of these funds were "self raised funds", and a small proportion was bank loans.

However, Xu Rongmao also has a long front line in Beijing and Shanghai. The 4 most recent projects of the Olympic Garden, Shanghai Vientiane International Plaza, Shimao Binjiang garden and lakeside garden need more than 10 billion yuan. How can we ensure the source of funds?

Do not you need a loan?

There are market participants who believe that the Shanghai Wanxiang International Plaza, which has invested about 1 billion 100 million yuan, has completed the construction of underground three storey construction after 4 years, is basically in a state of shutdown at present. As the project is basically developed through bank loans, the balance of interest capitalization has accumulated over 300 million yuan under construction projects.

Therefore, once the project is pferred to fixed assets and pause, the loan interest and huge depreciation each year around 60 million will probably shatter the illusion of profit growth.

Xu Rongmao has to play his strong point once again, and he has returned to Hongkong's stock market, but this time he is no longer a single individual investor.

In September 18th of this year, Hong Kong listed companies Dongfang Science and Technology Holdings Limited announced that 52.04% of its shares were purchased by a trust fund company and the pferable price was HK $58 million.

It is understood that the beneficiary of the trust fund is Xu Rongmao and his wife and children.

Shimao Shimao Group is discussing with another Hong Kong listed companies recently that the takeover agreement is about to be signed.

It can be imagined that this is nothing more than backdoor listing. By injecting Shimao Group's high quality real estate projects in the mainland into Hong Kong listed companies, the fund will be consolidated to promote the smooth implementation of the project.

Xu Rongmao wants to borrow the capital market for the project "hematopoiesis".

The thriving Shimao Group is a "family business": Xu Tian Tan, the son of Xu Rongmao, born in 1977, is now the sales director of Shanghai Shimao Real Estate Co., Ltd.

Xu Shiyong, the cousin of Xu Shi Tan, is one of the largest directors of Shimao investment, which invested 280 million yuan.

Xu Rongmao and his wife and two children controlled WMHui Family Trust trust fund have all the shares of overseas investment group, and overseas investment group is actually the predecessor of Shimao Group.

Because of the family business in China, Xu Shi believes that the Shimao Group is not a family business. It has many listed companies and many projects. Besides, he did not sit in this position because he was Xu Rongmao's son.

In addition, the chief engineer and so on are all hired from high salaries in Hongkong. Anyone who wants to vote will have to vote by the board of directors, and everyone will be able to get the right position by his ability.

Shimao Group has broken away from the family business, though it may be a form of family business on the surface.

No matter how to understand family business, it seems that Xu Rongmao has successfully broken through some bottlenecks of family businesses and made his enterprises in a normal, orderly and efficient operation.

Xu Rongmao, as the helmsman of Shimao Group in real estate development, wrote a successful history of his career with a rigorous attitude and a great deal of handwriting.