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... Pidai decided to start his own business. In 1996, he traveled alone to Sheep City and founded Hengda Real Estate.
He first took a daring loan of 5 million yuan from the bank. He then acquired a residential plot of land on an installment basis and began selling houses using the presale system.
At the time, Xu Pidai focused on small-sized apartments, which were rare on the market. His prices were also lower than surrounding developments, so his properties sold out almost instantly ...
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