 2014-02-27 |
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Economic Daily News / Reporter Qiu Zhan Guang / Taipei Report
On February 26, Yuan Chao Group (4306) announced that its subsidiary, Wang Chao Construction, purchased a building on Chongqing South Road in Taipei City's Zhongzheng District from the Pacific Cultural Foundation for a total price of NT$310 million. In addition to generating rental income, the building may be redeveloped into small residential units for sale.
A Yuan Chao executive indicated that the purchase of this building not only allows for rental income but also presents considerable redevelopment potential. Once the current leases expire, there is a possibility of demolishing and redeveloping the property into high-demand small residential units in a prestigious school district.
As of yesterday's close, Yuan Chao's stock price was NT$22.7, down NT$0.1.
In recent years, Wang Chao has been actively acquiring land in the Greater Taipei area and meticulously developing high-quality residential spaces. Last year, Wang Chao launched the "Wang Chao Jipin" project in Linkou, offering 167 units with a total sales value of NT$5 billion. Additionally, the "Wang Chao More" project in the New Taipei City Futian Redevelopment Area features 72 units with a total sales value of NT$1 billion. These projects, expected to be completed in 2015, are anticipated to contribute over NT$5 billion in revenue to the group. |
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