Miaoli County has launched an initiative to develop a business zone near the future Miaoli high-speed rail station and plans to auction off rights to develop the site next year, a real-estate agent said yesterday.
Sinyi Global Management Co (全球資產管理), a subsidiary of Sinyi Realty Inc (信義房屋), has been commissioned by the Miaoli County Government to hold the auction.
Sinyi Global Management will hold an investor conference at the end of this year to brief potential investors on the development of the business zone, which is expected to include an entertainment hub and office and retail spaces.
The firm said the county government is scheduled to release the requirements to potential developers in the first quarter of next year.
Michael Wang (王維宏), a manager with Sinyi Global Management, said the business zone development project includes three pieces of land with a total area of 10.02 hectares.
Developers will be allowed to have a total floor space of about 3.5 times the area of the plot of land, Wang said.
Wang said the Executive Yuan has agreed to provide a subsidy of NT$2.1 billion to improve the living environment around the Beishi River, which flows through the proposed business zone, and build a number of facilities, including a tourist center in the Tulou (土樓) Hakka architectural style.
Wang said he expects the government’s investment to make the development more alluring to potential developers.
The business zone, located about 5km away from Miaoli train station, is expected to serve as an important connection point between the Taiwan Railway Adminisration station and high-speed rail station, as well as a key stop on highways connecting the science parks in Hsinchu and Taichung, he said.