Continental Development Corp (大陸建設) yesterday sealed an agreement with Daiwa House Industry Co to develop two buildings in Kaohsiung’s central area, the first foray into the city’s property market for both firms.
The joint venture consists of a hotel with 260 guestrooms under the Nikko Hotel brand and a residential building with 227 apartments, company officials said.
“It is the first time Continental Development will have a presence in Kaohsiung and it will not be the last time, as the southern city has gained rapid headway in attracting business,” Continental Development chairman Christopher Chang (張良吉) told a signing ceremony in Kaohsiung.
Photo: Hsu Yi-ping, Taipei Times
Continental Development spotted the 1,550 ping (5,115m2) plot of land in the booming Asia New Bay (亞洲新灣區) area three years ago and believed that it would be more profitable as a mixed-use complex, Chang said.
Japan-based Daiwa House shared the view and agreed to join hands, he said.
Daiwa House board director Yukio Takamatsu said via teleconference that his company was attracted by the lot’s quick access to the harbor and mountains, which is favorable for hotel operations and residential apartments.
The Japanese construction firm has sought to expand its business in Asia and the Kaohsiung project represents its first attempt in Taiwan, Takamatsu said.
It might usher in more ventures in the region, he said.
Okura Nikko Hotel Management Co, which manages properties under the Okura Hotels & Resorts, Hotel JAL City and Nikko Hotels International brands, has agreed to launch the Nikko Hotel Kaohsiung, which might start operations in 2023.
Okura Nikko president Toshihiro Ogita said via teleconference that the Nikko Kaohsiung would be the group’s third property in Taiwan after the Hotel Royal-Nikko Taipei and the Okura Prestige Taipei.
Taiwan, known for its global technology leadership, is a promising market to set up a branch, Ogita said, adding that the government’s competent handling of the COVID-19 pandemic has raised Taiwan’s image on the world stage and helped to support business.
Construction of the residential building is expected to finish in 2023, with Hiyes International Co Ltd (海悅國際開發) tapped to help with marketing.
Hiyes intends to price the apartments, which are to be 22 to 56 ping, at NT$450,000 to NT$550,000 per ping, officials said.
Kaohsiung, formerly dominated by heavy industries such as China Steel Corp (中鋼), has sought to attract service-oriented businesses and the effort has paid off, said Continental Development, the property arm of Taipei-based Continental Holdings Corp (欣陸控股).
The Nikko Hotel Kaohsiung and top-grade but affordable apartments would become the port city’s next spotlight, Chang said.
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