"Shall we go up and talk, Mr. Mavi? I'd also like to take this opportunity to introduce you to the land parcel we are offering in Lujiazui," Director Ma said enthusiastically, showing clear favor toward Mavi.
Not far away, three prominent executives—Wang Zhengde, Chen Yuliang, and Li Xingbang—watched with mixed emotions. They couldn't help but feel slighted…
But there was nothing they could do about it. After all, they weren't foreign investors.
The on-site inspection phase of the land auction was designed to allow real estate developers to examine the land firsthand and ask any questions they might have.
This time, the land up for auction was near the International Conference Center, located in the Lujiazui Financial and Trade Zone. It was classified as a prime A-grade parcel, situated along the Huangpu River with a stunning view of the Bund. Nearly every developer participating in the auction had their sights set on it, eager to transform it into the most luxurious residential complex in Shanghai—or even all of China.
"Mr. Mavi, that plot over there is Parcel A316, the one up for auction today. It spans 60,000 square meters and is designated for residential use. This A316 parcel is one of the most coveted pieces of land in the entire Lujiazui Trade Zone! In fact, Director Ma was quite reluctant to let it go," an official enthusiastically explained, leaving the detailed introduction to his subordinates.
Their primary goal was to ensure that foreign investors found the land appealing. That way, when the bidding began, those deep-pocketed investors would keep raising the stakes, pushing prices higher and higher. A win-win for everyone.
Mavi, of course, was well aware of the unwritten rules of the Chinese real estate market—probably better than anyone present.
Take this parcel of land, for example. He could easily buy it from the Ministry of Land and Resources and just sit on it. Even if he didn't develop anything, in five or six years, its value would increase fivefold, if not more.
Of course, such a loophole was only possible in the early days of the real estate boom. Once regulations tightened, developers who purchased land would be required to begin construction within a set timeframe, or risk having their land reclaimed by the government.
"Mr. Mavi has expressed strong interest in this parcel," the female translator conveyed after a thorough introduction and Q&A session.
"Great, great! Then we'll see you at the auction?" Director Ma said with a broad smile, shaking Mavi's hand again. This on-site inspection was, without a doubt, the most diligent one he had conducted in years.
Actually, to be precise, it was the most serious inspection he had personally attended in three years—since he usually delegated such matters to his deputies.
"See you then," Mavi replied with a confident smile, extending his right hand. Ever since he began making strategic investments, his handshake had become second nature—firm, practiced, and authoritative.
During the inspection, he had already formulated a plan for the land once he secured it: to build a world-class waterfront luxury residential complex—the most extravagant in all of Asia.
Everything, from design to materials to labor, would be the absolute best. Efficiency wasn't a concern; perfection was. No expense would be spared, because once the project was complete, there would be no shortage of buyers.
However, Mavi had no intention of selling a single unit—not even if wealthy Chinese elites bombarded his company with offers. The only exceptions would be close associates, like Mr. Ma from Alibaba. For them, he might reconsider.
His strategy was simple: hold onto the property until the market peaked. Selling too early would mean merely doubling or tripling his investment—hardly worthwhile. But if he waited until the real estate market reached its highest point, he could release the properties at just the right moment for exponential profits.
China wasn't lacking in wealthy individuals—what it lacked were true luxury assets befitting their status. And Mavi was more than happy to "exploit" that demand. Buyers would even have to pass a qualification review before making a purchase.
"Mr. Mavi, take care," Director Ma said as he personally escorted Mavi downstairs, watching his fleet of high-performance sports cars roar away.
As for the other real estate executives who had been "ignored" during the inspection, they could only keep their grievances to themselves. Silently, they climbed into their own, less flashy luxury cars and left without a word.
On the way back, executives from major companies like Greenland Group and Gemdale Group found today's experience hard to swallow. They all silently vowed that on auction day, they would make sure this Russian investor understood the financial power of Chinese developers. They might appear "provincial," but they were far from pushovers.
Fortunately, this auction was conducted as an open bidding process, leaving no room for under-the-table deals. If it had been a tender or listed transfer, the complexities would have multiplied…
### One Week Later
The land auction review process was nearly complete. Now, it was time for the most critical stage: the auction itself.
At 10:00 AM on Wednesday, in a private banquet hall on the fifth floor of the Shanghai International Conference Center, rows of high-end chairs were meticulously arranged.
In just fifteen minutes, the participating real estate developers would enter the hall, bidding paddles in hand.
Each bidder's paddle number reflected their company's strength. Mavi had received the prestigious "No. 1" paddle and was assigned a front-row, center seat—an unmistakable sign of favor from the Ministry of Land and Resources.
The executives holding paddles No. 2, 3, and 4 were none other than Wang Zhengde, President of Greenland Group; Chen Yuliang, President of Gemdale Group; and Li Xingbang, President of Poly Real Estate.
Mavi examined the No. 1 paddle in his hand and couldn't help but feel amused. Since his homeland had granted him this level of recognition, it would only be right for him to participate actively in the bidding.
As he entered the auction hall, a hostess in a traditional qipao led him to his seat in the front row. "Mr. Mavi, this is your seat."
After taking his seat, Wang Zhengde arrived with his No. 2 paddle and sat to Mavi's left.
Wang cast a deliberate glance at Mavi, his expression clearly saying, Let's see who has the financial muscle to claim this land.
Mavi, however, paid little attention to such competitive posturing. If they wanted to raise the stakes, they were welcome to do so—no matter how high the price climbed, he was prepared to go all the way.
Seeing Mavi sitting there so composed, casually chatting with his translator, Wang felt somewhat deflated. He adjusted his expression to one of serious concentration, quietly waiting for the auction to begin.
And he wasn't the only one. Originally, each real estate company had been focused on its own interests. But with the presence of a powerful foreign investor, things had changed. A collective sense of national pride had been stirred, and no one wanted to see a Russian businessman walk away with the prize.
"Mr. Mavi," his translator leaned in and spoke in a soft but meaningful tone, "there's an old Chinese saying: 'Fighting among ourselves.' It means internal strife happens when there's no external competition. But now that an outsider is involved…"
She glanced around the room, subtly indicating the hostility Mavi was facing.
(End of Chapter)