The National Palace Museum Southern Branch might generate huge tourism and retail revenues and the Chiayi County Government should work with the private sector to tap the business potential, Colliers International Taiwan (高力國際) said yesterday.
The international property consultancy made the plea after the Chiayi County Council last month passed an unscheduled resolution asking the local government to suspend the build-operate-transfer (BOT) contract for the museum’s construction.
The museum has attracted more than 420,000 visits since its soft opening in December last year and the number could surpass 1 million by the end of this year, Colliers analyst Jeremy Su (蘇明俊) said.
“There is much that the local government could do to boost investment and tourism,” Su said, adding that business opportunities include resort and business hotels, retail space and entertainment facilities among others.
Most cities worldwide draw up development plans with the construction of major museums and other public projects, Su said.
Taipei-based developer Huafu Enterprise Co (樺福集團) is responsible for adding a plaza, restaurants and performance spaces to the complex.
The museum covers 20 hectares, while the BOT contract and other non-museum facilities have 50 hectares of land allocated free of compensation, raising questions over the wisdom of the arrangement, local media reported, citing Chiayi County councilors.
Colliers suggested that Taiwan could learn from Singapore and allow foreign capital to compete for development contracts.
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