Savills (Taiwan) Ltd (第一太平戴維斯) yesterday formed a property management arm with initial working capital of NT$10 million (US$315,000) to tap into the nation’s management services market for luxury homes and upscale commercial properties, mostly in Taipei and Taichung.
“We will aim at [providing management services to] luxury homes worth more than NT$1 million per ping [3.2m²], or commercial properties with a minimum floor space of 5,000 ping each,” Savills Taiwan general manager Cynthia Chu (朱幸兒), who also doubles as the 10-member management arm’s general manager, told a media briefing yesterday.
The newly launched subsidiary has won contracts to manage the 14-story Buffet Enterprise Center in downtown Taipei, built by Fabulous Group (將捷集團), and chemical manufacturer Loyal Group’s (見龍集團) 12-story headquarter building in Neihu, she said, adding that the company charges between NT$110 and NT$280 per ping monthly for property management services.
By leveraging the group’s property management expertise in China, Chu yesterday vowed to expand the subsidiary’s workforce to 40 by the end of this year to manage a total of 20 properties here.
Savills China provides management services in areas including security, housekeeping, chauffeur, catering and entertainment to properties totaling 11.82 million square meters, including the seven-star Beijing-based landmark Pangu Plaza (盤谷大觀), which boasts a management service charge of about 50 yuan (US$7.32) per square meter.
Claiming to be an industry leader in property management, the realtor’s chief executive officer in the greater China region, Randall Hall, said yesterday he was confident in the local market’s potential.
“The new initiatives in [financial] MOU [memorandum of understanding] and ECFA [economic cooperation framework agreement] will present both Taiwan and China unlimited business opportunities,” he told a media briefing yesterday.
He earmarked a three-year goal for the local property management arm to take up a more than 30 percent share of Savills Taiwan’s annual revenues.
WASHINGTON’S INCENTIVES: The CHIPS Act set aside US$39 billion in direct grants to persuade the world’s top semiconductor companies to make chips on US soil The US plans to award more than US$6 billion to Samsung Electronics Co, helping the chipmaker expand beyond a project in Texas it has already announced, people familiar with the matter said. The money from the 2022 CHIPS and Science Act would be one of several major awards that the US Department of Commerce is expected to announce in the coming weeks, including a grant of more than US$5 billion to Samsung’s rival, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), people familiar with the plans said. The people spoke on condition of anonymity in advance of the official announcements. The federal funding for
HIGH DEMAND: The firm has strong capabilities of providing key components including liquid cooling technology needed for AI servers, chairman Young Liu said Hon Hai Precision Industry Co (鴻海精密) yesterday revised its revenue outlook for this year to “significant” growth from a “neutral” view forecast five months ago, due to strong demand for artificial intelligence (AI) servers from cloud service providers. Hon Hai, a major assembler of iPhones that is also known as Foxconn, expects AI server revenues to soar more than 40 percent annually this year, chairman Young Liu (劉揚偉) told investors. The robust growth would uplift revenue contribution from AI servers to 40 percent of the company’s overall server revenue this year, from 30 percent last year, Liu said. In the three-year period
LONG HAUL: Largan Energy Materials’ TNO-based lithium-ion batteries are expected to charge in five minutes and last about 20 years, far surpassing conventional technology Largan Precision Co (大立光) has formed a joint venture with the Industrial Technology Research Institute (ITRI, 工研院) to produce fast-charging, long-life lithium-ion batteries for electric vehicles, mobile electronics and electric storage units, the camera lens supplier for Apple Inc’s iPhones said yesterday. Largan Energy Materials Co (萬溢能源材料), established in January, is developing high-energy, fast-charging, long-life lithium-ion batteries using titanium niobium oxide (TNO) anodes, it said. TNO-based batteries can be fully charged in five minutes and have a lifespan of 20 years, a major advantage over the two to four hours of charging time needed for conventional graphite-anode-based batteries, Largan said in a
Taiwan is one of the first countries to benefit from the artificial intelligence (AI) boom, but because that is largely down to a single company it also represents a risk, former Google Taiwan managing director Chien Lee-feng (簡立峰) said at an AI forum in Taipei yesterday. Speaking at the forum on how generative AI can generate possibilities for all walks of life, Chien said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) — currently among the world’s 10 most-valuable companies due to continued optimism about AI — ensures Taiwan is one of the economies to benefit most from AI. “This is because AI is