Huaku Development Co (華固建設) yesterday won the auction for an 875 ping (2,887.5m2) plot in Taipei’s Nangang District (南港) at NT$4.49 billion (US$161.67 million).
The Taipei-based developer is to pay an 80 percent premium on the asking price for the plot near MRT Kunyang Station.
The price of NT$5.13 million per ping is a record for the area, as the district evolves into a first-tier area for property development.
Photo: Hsu Yi-ping, Taipei Times
Sinyi Realty Inc (信義房屋) head researcher Tseng Ching-der (曾敬德) said that the deal showed that Huaku is upbeat about property demand and prices in the district.
Major builders have in the past few years opened offices in Nangang, which has benefitted from urban renewal efforts and corporate migration from Taipei’s prime Xinyi District (信義), Tseng said.
The plot is near the site where Goldsun Group (國產實業集團) is planning to build its new headquarters and a planned high-rise office building by Ruentex Development Co (潤泰新).
Huaku is expected to ask NT$1.1 million per ping amid favorable development terms, real-estate consultancy REPro Knight Frank said.
The plot might be turned into a mixed-use complex with residential and commercial spaces, the consultancy said, adding that upscale office spaces in Taipei cost NT$4,000 rent per ping per month.
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