Cheung Kong’s partial selling of Apex Horizon hotel unit fizzled out suddenly. Involved property agents paid attention to commission’s issue matters. Huang Zi-hua (see picture), the managing director of Midland Group(1200) expressed after the board of shareholders yesterday, they were closely communicating with Cheung Kong but there had no certain answer yet. As for the progress of canceling trading of Apex Horizon hotel unit and founding trans-department group, Mr. Huang pointed, the staffs of the group are actively explaining the refund procedure and the related arrangement to buyer who had purchased the hotel unit through their company. But if it involved in legal issues such as claiming for other lost further, they will suggest customer to solve the problem through private lawyer. Since different lawyers have their own consideration on legal provision, so it will have higher possibility on benefit safeguard through private lawyer.
The staff quantity increased 4.6% in first 4 months to 10,000.
Affected by government’s repeatedly measures, plus with transition vacuum appeared after “ New Real Estate Sale Regulations” implemented, the trading of new and second hand property in recent 2-3 months obviously fell. Facing the dull market, Huang Zi-hua admitted, this industry is under a situation of survival of the fittest currently. The group will continue to increase elite staffs to keep the market share. The quantity of frontline staff of the Group in Hong Kong decreased 1% in first 4 months. But the wholly staff quantity including Hong Kong, Macao and China mainland in the same period increased to 10,000 with rising range about 4.6%.
He emphasized, not all the separated employees left because order quantity sharply decreased, but some of them left by natural. Staff quantity decreasing 1% in first 4 months not belong to planned shrink nor only concentrate on residential property department. Since there is polarization between quantity of trading case and quantity of property agent, so it will accelerate the trend of property agents quit from the job or even left the industry.
As for if will decrease the branches’ quantity or surrender of some branches’s tenancy to respond to the market situation, he pointed, there were no plan to surrender of some branches’s tenancy temporary, but some branches which expire this year will not be relet if the rent is high and the location is unsuited. These kind of branches may be transferred to other district. And the market share will be kept according to industry counterparts’ action. He added, since the agency practitioners always took commission split majorly, it is believed that current new agency practitioners have similar basic salary with before’s.
Obtained sole agency rights from 4 mainland property projects.
He said again, each parties are adapting to new regulations’ implemented detail since it need to adapt to and coordinate to new regulations in short term after the New Real Estate Sale Regulations implemented. It made the project source appeared vacuum period, but it will not affect the supply of residential property in long term. Since mainland property market is hot recently, Midland China which belonged to the Group will strengthen the selling of projects from China and foreign country. Currently, they had obtained sole agency rights from 4 mainland property projects. There will be lecture held in Hong Kong tomorrow. But base on the difference of the property market situation between each district in Mainland and Hong Kong, the agents in Hong Kong and agents in mainland of the Group will collaborate and interact together.
