City’s Best Divine Doctor
Chapter 1007: Auction of Unfinished Buildings

Chapter 1007: Chapter 1007: Auction of Unfinished Buildings

When Ye Qiu woke up and opened his eyes, it was already past eight in the morning.

They had stayed up late last night admiring the moon; after his parents went down first, Ye Xue and Liu Lingxiu went to take a bath, and Ye Qiu brought the remaining mooncakes and fruits to the first floor. Then he returned to his room to play some games with Li Shen and the others, waiting until Ye Xue and Liu Lingxiu finished bathing before he went to take a shower himself, with his pajamas.

He didn’t continue with his cultivation afterward. Upon waking, he washed up, went downstairs, and did not see his parents or sister. He went to his sister’s room and knocked on the door, then pushed it open directly, entering the room where he smelled two girlish fragrances—one from his sister, the other from Liu Lingxiu.

At the moment, Liu Lingxiu was still sleeping in, having gone to bed very late last night. However, she didn’t know when Ye Xue got up.

When Ye Qiu came in, Liu Lingxiu appeared especially lazy, hugging the quilt with a somewhat shy blush on her face.

"Ye Qiu, you’re up?"

"Are you going to help your parents with the supermarket today, or are you coming out with me to have fun?"

"Let’s go out and play. I haven’t gone out during the entire holiday, and there are only two days left before I have to go back to school."

Liu Lingxiu got up to wash, wearing the dress Ye Qiu bought her from Paris, a fall outfit.

Putting on this dress further enhanced Liu Lingxiu’s demeanor.

Coming downstairs and having breakfast, Ye Qiu and Liu Lingxiu got into the car and drove away from Peach Blossom Spring Villa, heading toward a scenic area in the suburbs.

With the holiday nearing its end, outside attractions didn’t have as many people as before; tourists from outside were preparing to head back.

Thus, Ye Qiu and Liu Lingxiu arrived at General Mountain in the suburbs and found that there were indeed few tourists.

...

Yet, while there weren’t many people at the suburban attractions, the largest auction house in Jinling was bustling with crowd.

The abandoned buildings in Jiangnan’s suburbs, which had been neglected, had now become coveted among Jinling’s major real estate firms.

In recent years, Jinling’s development has primarily focused on Jiangnan districts, whereas Jiangbei, inherently small in size, along with areas north of the Yangtze River, has yet to see much development.

Meanwhile, urban development in Jiangnan has almost reached capacity, leaving the government with few plots to auction, and the renovation of old districts virtually complete.

For real estate firms, hunger for developmental land continues to grow.

As one of the country’s major cities, Jinling’s real estate growth has been rapid over the years.

Consequently, local Jinling real estate companies, including state-owned and large private enterprises, set their sights on areas outside the Jiangnan suburbs.

The aforementioned area of over 100,000 square meters of abandoned buildings in the suburbs was originally designated for villas.

Back in the day, even the most expensive villas couldn’t be sold for more than ten thousand.

Now, prices have risen roughly tenfold.

Thus, the area, whose original developer went bankrupt and insolvent, reverted to the government and several banks.

It’s now being auctioned to repay the defunct real estate company’s assets and interest.

Back then, the real estate company secured the land for just a few billion. Over the course of more than a decade, its value surged about tenfold, and is now likely worth several dozen billion to acquire.

Nevertheless, for these firms, purchasing at several dozen billion still guarantees significant profits, through constructing high-rise elevators and villas and incorporating corresponding amenities such as pools, sports fields, large malls, etc.

So on this day, Jinling’s major auction, including representatives from the municipal government—a deputy mayor—as well as representatives from several banks and local real estate firms and state-owned enterprises.

Local real estate firms were predominantly represented by the four families, including the Zhao Family, Su Family, Ning Family, and Yun Family, alongside principal figures from respective real estate subsidiaries, Jinling’s state-owned enterprises, and smaller real estate firms interested in observing or hoping to partake in the successful bids.

This time, the Su Family’s representative was the Su Group’s chairman, Su Wen, along with Su Luoluo’s local figure Li Yu, and several real estate executives from the Su Group, including Steward Su.

Prior to the auction of the abandoned buildings, Su Wen had received advance notice. According to advice from municipal and various bank sources, the total price of the land is expected to exceed fifty billion, with a per square meter estimate roughly at three thousand.

Since the land is evaluated over a seventy-year span, if elevator apartments constructed thereafter sold at ten thousand per square meter, profit remains assured, and villa prices may reach even higher.

Of course, phased construction sales mean phase one holds this price, while subsequent phases—two and three—are likely to see higher prices.

Therefore, Su Wen and Su Group executives know this stretch of abandoned buildings is imperative to acquire. Securing it within eighty billion still yields profit.

Acquiring at one hundred billion could qualify it as this year’s top-notch real estate, permitting further elevated sales without incurring loss.

"Director Su, a lot of enterprises are eyeing this abandoned site, but most set their psychological price around sixty billion."

A thirty-something male commented beside Steward Su.

This was Su Wen’s secretary, Lin Dong.

Based on information he recently accessed, other real estate firms place similar bids, with few willing to go much higher.

However, they overheard rumors circulating quietly.

The abandoned site bears ill-fate whispers; the former real estate company once being Jinling’s strongest, yet after acquiring the land the project endured relentless troubles and ultimately halted construction.

But it didn’t take long for that company to go bankrupt and insolvency became apparent.

This narrative is widely known among Jinling’s inhabitants.

Should Su Wen and Su Group resolve to acquire the property, any constructed homes risk going unsold, which could prove problematic later.

More importantly, the fear remains that history might repeat itself, reminiscent of the previous company’s fate, implicating one’s own enterprise.

"Director Su, we fear this scandal," Lin Secretary stated.

Listening from the side, Li Yu chimed in, "Uncle, it’s the current era; science is so advanced and widespread, yet some still believe in gods and ghosts, which is absolutely impossible. This rumor conveniently allows us to secure the land without aggressive bidding."