Mon, Feb 04, 2019 - Page 3 News List

AIT housing deals for staff valued at nearly NT$1.4bn

By Hsu Yi-ping  /  Staff reporter

Clouds on Friday hang over an apartment building in Taipei’s Neihu District where the American Institute in Taiwan has purchased.

Photo: Hsu Yi-ping, Taipei Times

The American Institute in Taiwan (AIT) has purchased apartments in Taipei’s Neihu District (內湖) and Tianmu (天母) area for an estimated NT$1.4 billion (US$45.54 million) to house staff and their families, Ministry of the Interior Department of Land Administration data showed.

The AIT in October last year purchased two units on the 20th floor of a high-end apartment complex on Jinhu Road, a two-minute walk from its new Neihu compound, land registration records showed.

One unit is 107.81 ping (356m2) with three parking spaces, while the other unit is 110.92 ping, without parking space.

Land registration records show that both properties were transferred to the AIT in November last year.

Data on the department’s Web site showed that in May last year, a three-parking-spot unit of 139.19 ping in the same apartment complex was sold for nearly NT$125 million, while a three-parking-space unit of 107.81 ping was sold for more than NT$83 million.

Based on those prices, the two units were estimated to have cost the AIT more than NT$200 million.

The AIT in November last year confirmed that it had purchased a 1,000m2 plot of land in Tianmu and reached an agreement with real-estate developer Jean Co (新美齊) to build a residential complex there to house its staff.

The complex would be 12 stories tall, with one unit on each level, and have three basement floors.

The construction, which reportedly is to cost the institute NT$1.16 billion, is scheduled to be completed in the third quarter of next year.

The total cost for the Neihu apartments and the Tianmu complex are estimated at nearly NT$1.4 billion, and the AIT is reported to have paid for both in cash.

It most likely purchased the Neihu apartments for high-level officials and the Tianmu complex for employees with children, a real-estate agent said, adding that the complex is close to the Taipei American School.

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