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.
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
An Indonesian animated movie is smashing regional box office records and could be set for wider success as it prepares to open beyond the Southeast Asian archipelago’s silver screens. Jumbo — a film based on the adventures of main character, Don, a large orphaned Indonesian boy facing bullying at school — last month became the highest-grossing Southeast Asian animated film, raking in more than US$8 million. Released at the end of March to coincide with the Eid holidays after the Islamic fasting month of Ramadan, the movie has hit 8 million ticket sales, the third-highest in Indonesian cinema history, Film
Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue jumped 48 percent last month, underscoring how electronics firms scrambled to acquire essential components before global tariffs took effect. The main chipmaker for Apple Inc and Nvidia Corp reported monthly sales of NT$349.6 billion (US$11.6 billion). That compares with the average analysts’ estimate for a 38 percent rise in second-quarter revenue. US President Donald Trump’s trade war is prompting economists to retool GDP forecasts worldwide, casting doubt over the outlook for everything from iPhone demand to computing and datacenter construction. However, TSMC — a barometer for global tech spending given its central role in the
Alchip Technologies Ltd (世芯), an application-specific integrated circuit (ASIC) designer specializing in server chips, expects revenue to decline this year due to sagging demand for 5-nanometer artificial intelligence (AI) chips from a North America-based major customer, a company executive said yesterday. That would be the first contraction in revenue for Alchip as it has been enjoying strong revenue growth over the past few years, benefiting from cloud-service providers’ moves to reduce dependence on Nvidia Corp’s expensive AI chips by building their own AI accelerator by outsourcing chip design. The 5-nanometer chip was supposed to be a new growth engine as the lifecycle
RSS