Pau Jar tops list of prolific builders for fourth straight year

By Crystal Hsu  /  Staff reporter

Sat, Mar 08, 2014 - Page 13

Pau Jar Group (寶佳機構), a New Taipei City-based developer and builder, topped peers in terms of new construction volume last year with projects nationwide totaling NT$113.6 billion (US$3.74 billion), an annual survey by Housing Monthly showed.

The figures represented a 17.11 percent increase from NT$97 billion a year earlier as the company rolled out several affordable-housing projects, the Chinese-language periodical’s manager Viola Huang (黃美瑄) said.

The group plans to launch presale residential and commercial projects in Tamsui District (淡水), New Taipei City and Taoyuan County later this year, according to its Web site.

It is the fourth consecutive year Pau Jar has been the most prolific builder, with a construction volume larger than the combined developments of the two runners-up, High Wealth Construction Co (興富發) and Farglory Land Development Co (遠雄建設), Huang said.

High Wealth — Taiwan’s leading land developer — was the second-most prolific builder with NT$67.1 billion worth of new projects in in Taipei’s Wanhua (萬華) and Nehui (內湖) districts last year, up 13.7 percent from a year earlier, the magazine said.

The result seemed at odds with Highwealth chairman Cheng Chin-tien’s (鄭欽天) remarks early last year that the company would stop hunting for undeveloped plots and planned to lower price tags on its properties in Taipei by 15 percent to reflect market demand.

Farglory Land Development Co (遠雄建設) was third on the list being responsible for NT$47.1 billion worth of new apartment complexes, constructed mainly in Sinjhuang District (新莊), New Taipei City, Housing Monthly said.

The figures translated into a 31.74 percent annual decline, compared with NT$69 billion in 2012, as Farglory turned cautious in the second half of last year after the US Federal Reserve signaled plans to wind down its quantitative easing, which raised concerns over fund outflows from property markets, Huang said.

Fourth on the list was Hung Sheng Construction Ltd (宏盛建設), which made the top-10 list for the first time in a decade with NT$18 billion of pre-sale projects in Tamsui

It was followed by Hontai Life Insurance Co (宏泰人壽), Lih Pao Construction Co (麗寶建設) and Chungyuet Group (中悅建設).