Synnex Technology International Corp (聯強國際) yesterday inked a deal to buy office space from Nankang Rubber Tire Corp (南港輪胎), which is turning an old factory site in Taipei’s Nangang District (南港) into an upscale mixed-use complex.
The electronics distributor, its affiliate Winbond Electronics Corp (華邦電) and Y. S. Educational Foundation (育秀教育基金會) have agreed to buy 15 floors for NT$6.36 billion (US$205.15 million), or NT$1 million per ping (3.3m2), in the Global One (世界明珠) complex.
The deal pushed commercial property prices to a new high in a district that might see a massive influx of corporate tenants in the next five years, as office space in the prime Xinyi District (信義) is approaching full occupancy without signs of new supply in sight, market watchers said.
Photo: Yang Ya-min, Taipei Times
Synnex Technology’s deal comes before Nankang Rubber has even officially launched the Global One project, which is expected to see a sales volume of about NT$100 billion, real-estate brokers said.
Synnex Technology president Evans Tu (杜書伍) said the company would put its global operation center in the new offices, after the new complex is completed in 2023, ending five years of searching for a site.
The complex is to be built on a 10,000-plus ping plot, with two office buildings and six residential buildings with floor space totaling 70,000 ping, Nankang Rubber said.
“The complex, close to Nangang High Speed Rail Station, will become a new landmark all occupants could be proud of,” said former Nankang Rubber chairman Lin Hsueh-pu (林學圃), who remains honorary chairman of the company.
The tire maker would move its own headquarters there, he added.
The complex is to include 6.7 percent retail space and 1.7 percent for a performing arts space, said Jay San Lin Group (甲山林機構), which is marketing the project.
Jay San Lin said it plans to set up a sales center toward the end of the year, but not formally introduce the project until after the Jan. 11 presidential and legislative elections to avoid political uncertainty hurting sales.
Selling prices for residential apartments could be NT$1.5 million per ping in light of the location, real-estate brokers said.
Synnex Technology, known in recent years for its astute acquisition and merger program, would not spend money on unworthy assets, brokers said.
Synnex shares yesterday rose 1.23 percent in Taipei trading to close at NT$36.9, while Nankang’s shares gained 1.21 percent to end at NT$41.95.
Cairo’s new monorail slices across the city skyline, running above the familiar chaos of blaring horns and aging buses’ exhaust fumes that mark rush hour below. The US$4.5 billion monorail, opened this month, is among Egypt’s most prominent new transport projects, part of a debt-funded infrastructure drive criticized for sapping state finances while bringing limited benefits to most of the country’s 109 million people. “It feels like you’re in a different country,” said Ramy Sayed, a restaurant manager, aboard a driverless Innovia 300 train. “No noise, no traffic, we’re not used to this.” The eastern line runs 56km from the bustling middle-class
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
Starlux Airlines Co (星宇航空) today unveiled a long-haul network expansion plan at a shareholders’ meeting in Taipei, including direct flights to Barcelona, Spain, and Zurich, Switzerland, as well as a service connecting Taipei, Sydney and New Zealand. Starlux is to become the first Taiwanese carrier to offer non-stop services to the two European cities, while the inaugural oceanic route is expected to expand transit opportunities within the Australia-New Zealand market, Starlux said. Flight services to Chicago, Dallas, Washington and New York are under evaluation, the airline added. Prior to the shareholders’ meeting, the airline earlier this year announced that it would be
Intel Corp regards Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) as a longstanding partner, as the US chipmaker would continue outsourcing production of advanced chips to TSMC, Intel chief executive officer Lip-Bu Tan (陳立武) said yesterday. “I don’t look at people as competitors. I look at the collaboration... Nvidia is also, you know, a good friend,” Tan told a news conference following his keynote speech at the Computex trade show in Taipei. “It’s a very trusted partnership for us... We are a big, top customer for them, and we’re going to continue doing that,” he said, referring to TSMC, the world’s largest foundry
RSS