Yulon Group (裕隆集團) has postponed the construction of Yulon Towns (裕隆城), a residential-commercial complex in New Taipei City’s Sindian District (新店), due to the weak economic outlook, fierce competition in the real-estate market and difficulties in the construction process, a group official said yesterday.
The complex has a commercial zone on a 6,500 ping (21,488m2) parcel, on which construction began in the second quarter of 2017, and a residential area on a 7,500 ping parcel, on which construction has yet to begin, the official said.
“We expect to see more competition in the real-estate market after new projects in New Taipei City are completed over the next few years,” the official said by telephone.
“The construction of Yulon Towns has been more complex than we expected, so we recently asked the contractors to put off preparing building materials,” the official added.
The group is still evaluating changes to the project, such as adjusting the number of total floors, the official said on condition of anonymity, without further details.
Yulon Towns, designed by the late Iranian architect Zaha Hadid, has a unique curving glass surface.
The completed project would feature Eslite Bookstore (誠品), Vieshow Cinemas (威秀影城), retail stores and restaurants, as well as 632 residential units ranging from 25 to 50 ping, the group said.
News of the project’s postponement prompted investors yesterday to offload shares of the group’s companies, including Yulon Motor Co (裕隆汽車), which closed down 5.85 percent at NT$20.1, its lowest level since early May.
Shares in Yulon Nissan Motor Co (裕隆日產) fell 0.4 percent to NT$247, while China Motor Corp (中華汽車) fell 0.79 percent to NT$25.05.
BUSINESS UPDATE: The iPhone assembler said operations outlook is expected to show quarter-on-quarter and year-on-year growth for the second quarter Hon Hai Precision Industry Co (鴻海精密) yesterday reported strong growth in sales last month, potentially raising expectations for iPhone sales while artificial intelligence (AI)-related business booms. The company, which assembles the majority of Apple Inc’s smartphones, reported a 19.03 percent rise in monthly sales to NT$510.9 billion (US$15.78 billion), from NT$429.22 billion in the same period last year. On a monthly basis, sales rose 14.16 percent, it said. The company in a statement said that last month’s revenue was a record-breaking April performance. Hon Hai, known also as Foxconn Technology Group (富士康科技集團), assembles most iPhones, but the company is diversifying its business to
Apple Inc has been developing a homegrown chip to run artificial intelligence (AI) tools in data centers, although it is unclear if the semiconductor would ever be deployed, the Wall Street Journal reported on Monday. The effort would build on Apple’s previous efforts to make in-house chips, which run in its iPhones, Macs and other devices, according to the Journal, which cited unidentified people familiar with the matter. The server project is code-named ACDC (Apple Chips in Data Center) within the company, aiming to utilize Apple’s expertise in chip design for the company’s server infrastructure, the newspaper said. While this initiative has been
GlobalWafers Co (環球晶圓), the world’s No. 3 silicon wafer supplier, yesterday said that revenue would rise moderately in the second half of this year, driven primarily by robust demand for advanced wafers used in high-bandwidth memory (HBM) chips, a key component of artificial intelligence (AI) technology. “The first quarter is the lowest point of this cycle. The second half will be better than the first for the whole semiconductor industry and for GlobalWafers,” chairwoman Doris Hsu (徐秀蘭) said during an online investors’ conference. “HBM would definitely be the key growth driver in the second half,” Hsu said. “That is our big hope
The consumer price index (CPI) last month eased to 1.95 percent, below the central bank’s 2 percent target, as food and entertainment cost increases decelerated, helped by stable egg prices, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. The slowdown bucked predictions by policymakers and academics that inflationary pressures would build up following double-digit electricity rate hikes on April 1. “The latest CPI data came after the cost of eating out and rent grew moderately amid mixed international raw material prices,” DGBAS official Tsao Chih-hung (曹志弘) told a news conference in Taipei. The central bank in March raised interest rates by