Two listed developers in Taichung and Tainan yesterday said that they are upbeat about business this year, as they would benefit from real demand fueled by a stable economy and investments by local tech firms.
Taichung-based Full Wang International Development Co (富旺國際開發) said it expects enhanced profitability this year as construction projects across Taiwan stay on course.
Full Wang said it has 12 projects on hand that might generate NT$16.87 billion (US$610.70 million) of sales, up from NT$3.19 billion last year, when a level-3 COVID-19 alert in the second quarter stalled construction and weighed on sales.
The 12 projects are in Hsinchu, Miaoli, Taichung, Yunlin and Kaohsiung, with strong sales rates, it said.
Full Wang, which is engaged in residential property development as well as sales of industrial land plots, said that windfalls would continue as companies return from abroad, and local semiconductor and flat-panel makers expand capacity.
Full Wang is also seeking to tap into commercial property management and is in talks with potential partners to be involved with a mixed-used complex to be built near the High-Speed Rail station in Taichung, it said.
The complex might generate NT$100 million in rental income from next year, if things proceed smoothly, it said.
Tainan-based Sun Yad Construction Co (上曜建設開發) said it is taking advantage of the southern city’s evolution into a home to new manufacturing facilities of heavyweight Taiwanese technology firms.
New manufacturing orders will create new jobs and housing demand, and Sun Yad is poised to win customers with its experience in development of upscale apartments, it said.
A lakeside residential project achieved a sales rate of more than 50 percent just three weeks after its release, it said.
Selling prices would stand firm at above NT$400,000 per ping (3.3m2) for units on upper floors, Sun Yad Construction said.
with penthouse units expected to be near NT$500,000 per ping, which would be close to rates in northern Taiwan, it said.
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