Stagnation in the real estate market has forced several local property developers to enter or expand their presence in China this year, according to the Chinese-language media yesterday.
The moves have been sped up as political instability and an economic slowdown have abruptly stiffled the domestic real estate market during the second half of last year, the report said.
In response to unfavorable sentiment, Far East Construction Group (
In order to keep its investment risk low, Far East Construction will first offer its technological knowledge to its Chinese counterparts in the areas of designing, planning, sales, and even operational management skills, said Chao Terng-hsiung (
Far East Construction has been called on several times by their Chinese counterparts to help construct industrial complexes in China.
Another major developer, Pacific Construction Group (
Currently, Pacific has three department stores in Shanghai, one in Chongqing and two in Chengdu, and will launch a new one in Beijing in April of this year.
Meanwhile, Ruentex Construction Group (
Chang Ku Building Co (
Though China has become a strong magnet that draws many Taiwanese developers, the Kaohsiung-based Hong Chung Construction Co (
The company announced on Dec. 28 that it has allotted NT$480 million in the development of an industrial park in Malaysia, the report said.
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