Taipei-based Huang Hsiang Construction Corp (皇翔建設) has acquired the building that houses the Sogo Department store’s Dunnan branch for NT$13 billion (US$458.05 million) through a share swap, government data showed.
The developer beat the other bidder, Urban Development Concept Holdings Ltd (志榮建設), after the seller, Jen Ai Co (仁愛企業), reportedly demanded an all-cash payment, scaring away other prospective buyers.
The 32-year-old building sits on a 938.9 ping (3,103.8m2) plot in downtown Taipei, where land is so scarce that urban renewal offers the only way for development projects.
The mixed-use complex has 7,269.5 ping of floor space, with tenants that include the buffet Hilai Restaurant (漢來海港餐廳) and Cantonese restaurant Celebrity Cuisine (漢來名人坊).
The two sides closed the deal last month through a share swap, Huang Hsiang said.
Huang Hsiang has not commented on the future of the complex, saying that the building is still bound by a leasing contract.
Great Home Realty Co (大家房屋) lead researcher Mandy Lang (郎美囡) said that the property’s convenient location makes it an ideal project for luxury housing that could fetch more than NT$2.5 million per ping.
As the building qualifies for urban renewal, it could enjoy favorable floor area ratios, Lang said, adding that the developer could turn it into upscale office or retail space, which are in great demand.
Huang Hsiang also owns the property of Renaissance Taipei Shihlin Hotel (台北士林萬麗酒店) near the National Palace Museum and Shilin Night Market.
Sweeping policy changes under US Secretary of Health and Human Services Robert F. Kennedy Jr are having a chilling effect on vaccine makers as anti-vaccine rhetoric has turned into concrete changes in inoculation schedules and recommendations, investors and executives said. The administration of US President Donald Trump has in the past year upended vaccine recommendations, with the country last month ending its longstanding guidance that all children receive inoculations against flu, hepatitis A and other diseases. The unprecedented changes have led to diminished vaccine usage, hurt the investment case for some biotechs, and created a drag that would likely dent revenues and
Global semiconductor stocks advanced yesterday, as comments by Nvidia Corp chief executive officer Jensen Huang (黃仁勳) at Davos, Switzerland, helped reinforce investor enthusiasm for artificial intelligence (AI). Samsung Electronics Co gained as much as 5 percent to an all-time high, helping drive South Korea’s benchmark KOSPI above 5,000 for the first time. That came after the Philadelphia Semiconductor Index rose more than 3 percent to a fresh record on Wednesday, with a boost from Nvidia. The gains came amid broad risk-on trade after US President Donald Trump withdrew his threat of tariffs on some European nations over backing for Greenland. Huang further
CULPRITS: Factors that affected the slip included falling global crude oil prices, wait-and-see consumer attitudes due to US tariffs and a different Lunar New Year holiday schedule Taiwan’s retail sales ended a nine-year growth streak last year, slipping 0.2 percent from a year earlier as uncertainty over US tariff policies affected demand for durable goods, data released on Friday by the Ministry of Economic Affairs showed. Last year’s retail sales totaled NT$4.84 trillion (US$153.27 billion), down about NT$9.5 billion, or 0.2 percent, from 2024. Despite the decline, the figure was still the second-highest annual sales total on record. Ministry statistics department deputy head Chen Yu-fang (陳玉芳) said sales of cars, motorcycles and related products, which accounted for 17.4 percent of total retail rales last year, fell NT$68.1 billion, or
HSBC Bank Taiwan Ltd (匯豐台灣商銀) and the Taiwan High Prosecutors Office recently signed a memorandum of understanding (MOU) to enhance cooperation on the suspicious transaction analysis mechanism. This landmark agreement makes HSBC the first foreign bank in Taiwan to establish such a partnership with the High Prosecutors Office, underscoring its commitment to active anti-fraud initiatives, financial inclusion, and the “Treating Customers Fairly” principle. Through this deep public-private collaboration, both parties aim to co-create a secure financial ecosystem via early warning detection and precise fraud prevention technologies. At the signing ceremony, HSBC Taiwan CEO and head of banking Adam Chen (陳志堅)
RSS