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Taiwan Life sets eyes on Taipei’s real estate sector

Taiwan Life Insurance Co (台灣人壽) chairman Chu Ping-yu (朱炳昱) said on Saturday his company would prioritize Taipei-based office buildings as its potential investment destinations.

“Our next target could be office buildings in Nangang,” Chu told reporters, expressing confidence in a future boom in the district.

SPENDING MONEY

Chu said the life insurer still has about NT$58 billion (US$1.9 billion) in capital for future real-estate investment after investing NT$12 billion in local properties.

The company expects to find investment destinations in the district with an ideal return of between 5.2 percent and 5.5 percent, he said.

UPBEAT

Chu said the company was also upbeat about commercial properties in greater Taipei including Bianciao, Hsinchuang and Yunghe cities.

“After Taiwan opens up its economy, the local office space market is expected to see an upside,” Chu said.

The insurer also hopes to expand its real-estate investments into Asia.

Chu said the company had put NT$3 billion in real estate investment trusts, which generated a 20 percent return in the past six months.

Chu also announced that the insurer would spend another NT$3 billion in the next six years to expand its employee base from the current 5,300 to about 16,000.
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