Mon, Feb 12, 2018 - Page 15 News List

Shining allots NT$73.5bn for two years of building

By Crystal Hsu  /  Staff reporter

Shining Building Business Co (鄉林建設) on Wednesday last week said it plans to build NT$73.51 billion (US$2.5 billion) worth of housing projects in Taiwan and China over the next two years, with NT$16.68 billion earmarked for Taiwan and NT$56.83 billion for China.

“Developers, which in previous years opted to postpone project launches, might take action this year, encouraged by stronger-than-expected improvement in transactions [last year],” Shining chairman Lai Cheng-yi (賴正鎰) told a media briefing in Taipei.

The Taichung-based developer is to introduce two housing projects in New Taipei City’s Sanchong (三重) and Sinjhuang (新莊) districts in the first half of the year, Lai said, adding that the Sanchong project is to offer 264 small apartment units, while the Sinjhuang project would add 150 units.

Together, they might generate NT$37.3 billion in sales, Lai said.

The company is also to launch presale housing projects valued at NT$15.38 billion in Chengdu, China, to take advantage of its rapid economic growth, he added.

Meanwhile, Shining said it aims to wrap up sales for its luxury hot-spring housing Forever Young (鄉林玉川) in Taipei’s Beitou District (北投) this year, as buying interest picks up.

“Prospective buyers have doubled since late last year and negotiation time declined by one week,” Lai said.

Overall, Lai said that the nation’s presale and new housing projects this year would reach a value of more than NT$1 trillion, higher than the NT$900 billion he estimated last month.

Many developers shared the view that the market has hit bottom and is poised for a slow recovery following four years of corrections, he said, adding that economic data lent support to his observation.

The government’s appointment of central bank Deputy Governor Yang Chin-long (楊金龍) to succeed outgoing Governor Perng Fai-nan (彭淮南) helps ease uncertainty and suggests that interest rates are to remain low for a while to support economic growth, he said.

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