Continental Development Corp (大陸建設) yesterday signed a deal with Formosan Rubber Group Inc (厚生公司) and Ambassador Hotels and Restaurants Ltd (國賓大飯店) to jointly repurpose the Ambassador Hotel Kaohsiung (高雄國賓飯店).
The developer and rubber product maker agreed to buy 20 percent and 30 percent of the plot from the hospitality provider respectively. They plan on turning the 40-year-old property into a mixed-use complex that features a hotel and serviced apartment units.
Ambassador Kaohsiung sits on a 2,026 ping (6,698m2) plot that would have favorable floor area ratios like other urban renewal projects, the companies said.
Photo courtesy of Continental Holdings Corp
Ambassador Hotels said it sold the land to Continental Development and Formosa Rubber for NT$2.4 billion (US$86.39 million) and would be able to divide 37 percent of the total floor area between the companies upon the project’s completion.
The government has encouraged the regeneration of old buildings, the hotel group said, adding that it believes it is wise to jump on the bandwagon and revitalize longstanding assets.
Urban hotels nationwide have also taken a hard hit from the COVID-19 pandemic, it said.
Continental Development said it would take charge of the project’s planning, construction and marketing, and later gain 63 percent of the floor space.
The Taipei-based developer recently sold a nearby luxury apartment complex, so it is confident about property development in the southern port city, it said, adding that the new project could hit the market two to three years from now.
SEMICONDUCTOR SERVICES: A company executive said that Taiwanese firms must think about how to participate in global supply chains and lift their competitiveness Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it expects to launch its first multifunctional service center in Pingtung County in the middle of 2027, in a bid to foster a resilient high-tech facility construction ecosystem. TSMC broached the idea of creating a center two or three years ago when it started building new manufacturing capacity in the US and Japan, the company said. The center, dubbed an “ecosystem park,” would assist local manufacturing facility construction partners to upgrade their capabilities and secure more deals from other global chipmakers such as Intel Corp, Micron Technology Inc and Infineon Technologies AG, TSMC said. It
NO BREAKTHROUGH? More substantial ‘deliverables,’ such as tariff reductions, would likely be saved for a meeting between Trump and Xi later this year, a trade expert said China launched two probes targeting the US semiconductor sector on Saturday ahead of talks between the two nations in Spain this week on trade, national security and the ownership of social media platform TikTok. China’s Ministry of Commerce announced an anti-dumping investigation into certain analog integrated circuits (ICs) imported from the US. The investigation is to target some commodity interface ICs and gate driver ICs, which are commonly made by US companies such as Texas Instruments Inc and ON Semiconductor Corp. The ministry also announced an anti-discrimination probe into US measures against China’s chip sector. US measures such as export curbs and tariffs
The US on Friday penalized two Chinese firms that acquired US chipmaking equipment for China’s top chipmaker, Semiconductor Manufacturing International Corp (SMIC, 中芯國際), including them among 32 entities that were added to the US Department of Commerce’s restricted trade list, a US government posting showed. Twenty-three of the 32 are in China. GMC Semiconductor Technology (Wuxi) Co (吉姆西半導體科技) and Jicun Semiconductor Technology (Shanghai) Co (吉存半導體科技) were placed on the list, formally known as the Entity List, for acquiring equipment for SMIC Northern Integrated Circuit Manufacturing (Beijing) Corp (中芯北方積體電路) and Semiconductor Manufacturing International (Beijing) Corp (中芯北京), the US Federal Register posting said. The
India’s ban of online money-based games could drive addicts to unregulated apps and offshore platforms that pose new financial and social risks, fantasy-sports gaming experts say. Indian Prime Minister Narendra Modi’s government banned real-money online games late last month, citing financial losses and addiction, leading to a shutdown of many apps offering paid fantasy cricket, rummy and poker games. “Many will move to offshore platforms, because of the addictive nature — they will find alternate means to get that dopamine hit,” said Viren Hemrajani, a Mumbai-based fantasy cricket analyst. “It [also] leads to fraud and scams, because everything is now
RSS