Lo­cal blue chip firms to roll out nu­mer­ous prop­er­ties next year

The China Post - - TAIWAN BUSINESS - BY JOHN LIU

Lo­cal blue chip com­pa­nies have been in­vest­ing in real es­tate over the years, and they are ex­pected to roll out NT$150 bil­lion worth of prop­er­ties onto the mar­ket next year, My Hous­ing ( ) mag­a­zine pre­dicted.

Non-con­struc­tion firms in Tai­wan ac­quired large quan­ti­ties of land, and they are cur­rently en­gag­ing in prop­erty de­vel­op­ment in an ef­fort to re­vi­tal­ize their as­sets.

My Hous­ing pre­dicted that blue chip firms will carry out a to­tal of 11 real es­tate de­vel­op­ments worth NT$150 bil­lion in 2015.

Chunghwa Tele­com (CHT, ), the largest tele­com company in Tai­wan, has a green con­struc­tion project in Taoyuan City. Although it is not con­sid­ered a flag­ship project, Chunghwa’s pres­tige still car­ries weight. The tele­com’s sub­sidiary Light Era De­vel­op­ment Co. (

) has con­structed prop­er­ties in Ban­qiao Dis­trict, New Taipei City be­fore.

Tai­wan Fer­til­izer Co. ( ) also has a num­ber of prop­er­ties in its port­fo­lio. A ma­jor landowner in Taipei’s Nan­gang Dis­trict, the company has sev­eral high-pro­file prop­erty de­vel­op­ments in the area.

Tai­wan Fer­til­izer will put two pieces of land on the mar­ket next year. It plans to sell the land own­er­ship rights of the one and erect two ho­tels and one com­mer­cial build­ing on the other. In ad­di­tion, the company will con­struct another of­fice build­ing in Hs­inchu.

Turn­ing Old Fac­to­ries into New

Ac­com­mo­da­tions

Many of th­ese blue chip com­pa­nies’ new prop­er­ties are con­verted from their old fac­to­ries, said My Hous­ing business re­search man­ager He Shichang ( ). World Pearl ( ) is one ex­am­ple.

The high-pro­file de­vel­op­ment in Nan- gang was con­verted from an old Nankang Rub­ber Tire Corp. ( ) fac­tory. The prop­erty is val­ued at up­wards of NT$40 bil­lion.

The T.CBD de­vel­op­ment, lo­cated in Taipei, was con­verted from a Sanyang In­dus­try Co. ( ) fac­tory and sold for some NT$32 bil­lion in to­tal. It is one of the largest com­mer­cial de­vel­op­ments in North­ern Tai­wan in re­cent years.

Chia Hsin Ce­ment Corp. ( ) has also long dab­bled in the real es­tate in­dus­try and has put prop­er­ties in Taipei and Taoyuan. An­a­lysts pre­dict that the company will in­tro­duce a new prop­erty in Daan Dis­trict, one of the most ex­pen­sive dis­tricts in Taipei. Unit price is ex­pected to ex­ceed one mil­lion.

My Hous­ing fore­cast that other lo­cal big names such as Sampo ( ), For­mosa Plas­tics Group ( ) and HeySong Cor­po­ra­tion ( ) will follow suit in the fu­ture, gen­er­at­ing high prop­erty vol­umes on the mar­ket.

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