Farglory Land Development Co (遠雄建設), a major developer and builder in Taiwan, aims to achieve NT$37.5 billion (US$1.27 billion) in sales this year, a 25 percent increase from last year, as demand improves amid stable economic growth, top executives said yesterday.
“We set a sales target of NT$37.5 billion this year, led by two major projects in Taoyuan’s Guishan District (龜山) and Taichung’s Cingshuei District (清水),” realty business president Lilian Chang (張麗蓉) told a media briefing.
The developer is the main subsidiary of Farglory Group (遠雄集團), whose business interests also include Farglory Life Insurance Co (遠雄人壽), Farglory Hotel Co (遠雄悅來飯店), the Farglory Free Trade Zone (遠雄自由貿易港區), Taiwan Solar Energy Corp (元晶太陽能) and Golden Biotechnology Corp (國鼎生物科技).
Sales had been difficult last year until December when buying interest for large luxury apartments showed an evident increase, Chang said.
The company set a sales target of NT$36.5 billion for last year and achieved NT$30 billion, she said.
The new goal requires NT$102 million in sales each day this year with a view to selling all remaining units in Guishan and Cingshuei, Chang said.
The developer has 13 projects with 3,100 apartment units for sale in different parts of Taiwan and plans to launch more in New Taipei City’s Banciao (板橋) and Jhonghe (中和) districts, as well as Taipei’s Neihu District (內湖).
Chang declined to say if the market was out of the woods yet, but the company aims to boost sales through the introduction of artificial intelligence (AI) technologies to existing and presale apartments.
Toward that end, Farglory Development has partnered with Chunghwa Telecom Co (中華電信), Taiwan Taxi Co (台灣大車隊) and Japan’s Panasonic Corp to allow residents to control home appliances or summon taxi services through their mobile devices or in-house touch panels.
“At Farglory-built apartments, having AI butlers is no longer a dream but part of everyday life,” Farglory general manager Tang Chia-feng (湯佳峰) said.
Asking prices for “smart” apartments at newly completed complexes in Jhonghe range from NT$650,000 to NT$700,000 per ping, or over NT$44 million for a unit of 68 ping, officials said.
The developer plans to launch small apartments of between 22 ping and 50 ping this year, including a presale complex of 112 units in Banciao, a complex of 61 units in Neihu and another complex of 110 units in Jhonghe, Chang said.
The company is to try harder to court Taiwanese with business operations in China as they account for 35 percent of sales in the greater Taipei area, Chang said.
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