Ruentex Development Co (潤泰新), a major supermarket operator and property developer, yesterday opened a new shopping center at Songshan Railway Station in Taipei, targeting NT$1 billion (US$34.4 million) revenue a year.
The three-floor Citylink shopping center is part of Ruentex’s plan to help revamp the Songshan Railway Station, which it won in a build-operate-transfer (BOT) project bid for NT$3.2 billion in 2007 with the right to use the land for 52 years.
After the first floor of the shopping center opened to the public yesterday, the second floor will be opened by the second quarter of next year and the third floor is set to open in the second quarter of 2014, Citylink vice president Eason Lin (林裕盛) said.
Lin said the company would rent the first floor to restaurants, the second floor to restaurants and clothes shops, and the third floor to cultural and creative businesses.
The project also includes a 17-floor station complex and a 21-floor multifunction building required by the Taiwan Railway Administrations, Ruentex chairman Jean Tsang-jiunn (簡滄圳) said.
“Currently about 30,000 passengers a day pass through the station. The number of passengers will more than double after the station becomes a Mass Rapid Transit [MRT] station,” Jean said.
In addition to the Songshan project, Ruentex has 18 more projects to be carried out in the next 10 years, including three other similar railway projects close to Neihu MRT station, Nangang MRT station, and New Taipei City’s (新北市) Sanchong District (三重), he said.
“Nangang will be a joint station for railway, MRT and high-speed railway, and Sanchong will be the intersection point for MRT Sinjhuang Line and Taoyuan International Airport MRT,” he said.
Neihu and Nangang projects are expected to be completed by the second quarter of 2014, while the Sinjhuang project is expected for the end of 2014, Jean said.
Ruentex’s revenue increased year-on-year by 1.77 percent and dropped month-on-month by 14.72 percent to NT$435.78 million last month, after its first 11-months revenue fell by 17.3 percent to NT$6.17 billion from a year earlier.
Ruentex shares fell 1.65 percent to NT$59.5 yesterday, up 83.64 percent since the beginning of the year, the Taiwan Stock Exchange’s data showed.
TECH TITAN: Pandemic-era demand for semiconductors turbocharged the nation’s GDP per capita to surpass South Korea’s, but it still remains half that of Singapore Taiwan is set to surpass South Korea this year in terms of wealth for the first time in more than two decades, marking a shift in Asia’s economic ranks made possible by the ascent of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電). According to the latest forecasts released on Thursday by the central bank, Taiwan’s GDP is expected to expand 4.55 percent this year, a further upward revision from the 4.45 percent estimate made by the statistics bureau last month. The growth trajectory puts Taiwan on track to exceed South Korea’s GDP per capita — a key measure of living standards — a
Samsung Electronics Co shares jumped 4.47 percent yesterday after reports it has won approval from Nvidia Corp for the use of advanced high-bandwidth memory (HBM) chips, which marks a breakthrough for the South Korean technology leader. The stock closed at 83,500 won in Seoul, the highest since July 31 last year. Yesterday’s gain comes after local media, including the Korea Economic Daily, reported that Samsung’s 12-layer HBM3E product recently passed Nvidia’s qualification tests. That clears the components for use in the artificial intelligence (AI) accelerators essential to the training of AI models from ChatGPT to DeepSeek (深度求索), and finally allows Samsung
READY TO HELP: Should TSMC require assistance, the government would fully cooperate in helping to speed up the establishment of the Chiayi plant, an official said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said its investment plans in Taiwan are “unchanged” amid speculation that the chipmaker might have suspended construction work on its second chip packaging plant in Chiayi County and plans to move equipment arranged for the plant to the US. The Chinese-language Economic Daily News reported earlier yesterday that TSMC had halted the construction of the chip packaging plant, which was scheduled to be completed next year and begin mass production in 2028. TSMC did not directly address whether construction of the plant had halted, but said its investment plans in Taiwan remain “unchanged.” The chipmaker started
MORTGAGE WORRIES: About 34% of respondents to a survey said they would approach multiple lenders to pay for a home, while 29.2% said they would ask family for help New housing projects in Taiwan’s six special municipalities, as well as Hsinchu city and county, are projected to total NT$710.65 billion (US$23.61 billion) in the upcoming fall sales season, a record 30 percent decrease from a year earlier, as tighter mortgage rules prompt developers to pull back, property listing platform 591.com (591新建案) said yesterday. The number of projects has also fallen to 312, a more than 20 percent decrease year-on-year, underscoring weakening sentiment and momentum amid lingering policy and financing headwinds. New Taipei City and Taoyuan bucked the downturn in project value, while Taipei, Hsinchu city and county, Taichung, Tainan and Kaohsiung
RSS