The Cabinet yesterday approved a proposal to raise floor-to-area ratios on certain parcels of land, saying this would create an incentive for urban regeneration.
The Ministry of the Interior had proposed that the ratio of floor space to land area be increased by a factor of between 1.5 and 2 for new buildings.
Meanwhile, the same ratio for old buildings will be increased by a factor of between 0.3 and 0.5.
The stipulated floor-to-area ratio varies with the purpose of the land in question.
The relaxation would be applied to urban renewal projects in areas near the high speed railway, railway and mass rapid transit stations, waterfronts and harbors, old-age homes and locations designated for major development projects.
"About 200 sites in the country qualify for the relaxation, which is expected to generate NT$2 trillion [US$61.75 billion] in the next five years, assuming an investment of NT$5 billion in each case," Minister of the Interior Lee Yi-yang (
Chen Hsing-lung (
Lee said the Regulations of Bulk Reward for Urban Renewal (
"Over the past nine years, only 165 urban renewal cases were approved," Lee said, adding that the reason behind the slow progress in urban redevelopment was "the lack of incentives."
Local governments are authorized by the regulations to enact their own measures to boost urban renewal within the general principles set by the central government.
"But even with this leeway, local governments, because of their bureaucratic rigidity, failed to come up with incentive schemes to drive urban renewal. In view of this, we are considering expanding the scope to award such projects," Lee said.
Lee said that business will benefit from their urban renewal projects provided they construct energy-saving "green" buildings.
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
‘IMMENSE SWAY’: The top 50 companies, based on market cap, shape everything from technology to consumer trends, advisory firm Visual Capitalist said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) was ranked the 10th-most valuable company globally this year, market information advisory firm Visual Capitalist said. TSMC sat on a market cap of about US$915 billion as of Monday last week, making it the 10th-most valuable company in the world and No. 1 in Asia, the publisher said in its “50 Most Valuable Companies in the World” list. Visual Capitalist described TSMC as the world’s largest dedicated semiconductor foundry operator that rolls out chips for major tech names such as US consumer electronics brand Apple Inc, and artificial intelligence (AI) chip designers Nvidia Corp and Advanced
Saudi Arabian Oil Co (Aramco), the Saudi state-owned oil giant, yesterday posted first-quarter profits of US$26 billion, down 4.6 percent from the prior year as falling global oil prices undermine the kingdom’s multitrillion-dollar development plans. Aramco had revenues of US$108.1 billion over the quarter, the company reported in a filing on Riyadh’s Tadawul stock exchange. The company saw US$107.2 billion in revenues and profits of US$27.2 billion for the same period last year. Saudi Arabia has promised to invest US$600 billion in the US over the course of US President Donald Trump’s second term. Trump, who is set to touch
SKEPTICAL: An economist said it is possible US and Chinese officials would walk away from the meeting saying talks were productive, without reducing tariffs at all US President Donald Trump hailed a “total reset” in US-China trade relations, ahead of a second day of talks yesterday between top officials from Washington and Beijing aimed at de-escalating trade tensions sparked by his aggressive tariff rollout. In a Truth Social post early yesterday, Trump praised the “very good” discussions and deemed them “a total reset negotiated in a friendly, but constructive, manner.” The second day of closed-door meetings between US Secretary of the Treasury Scott Bessent, US Trade Representative Jamieson Greer and Chinese Vice Premier He Lifeng (何立峰) were due to restart yesterday morning, said a person familiar
RSS