The artificial intelligence (AI) industry boom is driving a significant increase in demand for large commercial real estate in Taiwan, particularly for corporate headquarters, Sinyi Global Asset Management Inc (信義全球資產管理) said yesterday.
Businesses are competing to acquire land so they can consolidate their various units into a single headquarters, Sinyi Global general manager Lin San-chi (林三智) said.
Transactions for plots of more than 500 ping (1,653m2) are on the rise. Some financially strong corporate clients are focusing on acquiring plots of more than 1,000 ping, Lin said.
Photo: Hsu Yi-ping, Taipei Times
Some companies have specific building layout requirements; for example, they want the style to fit with their corporate culture, Lin said.
Buying land and building their headquarters from scratch often better meets a company’s needs than purchasing and renovating an existing building, he added.
The surge in commercial investments is particularly evident in science parks like Neihu Technology Park (內湖科技園區) in Taipei, Lin said.
This area is experiencing a clustering effect of listed companies establishing a presence. There is also a rising trend of companies consolidating their units into one headquarters.
Developers and business owners are optimistic about growth potential and are acquiring land to construct headquarters, which has led to an increase in land acquisition, Lin said.
According to Sinyi Global Asset Management’s disclosed actual price registration data, land transactions in Neihu Technology Park have amounted to NT$43.3 billion (US$1.34 billion) since 2018.
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