 2015-04-17 |
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Wangzhou Construction Invests NT$470 Million in Beitou Land for Development
April 17, 2015, 13:02
Reporter: Peng Xuan-yi
Following its strategy for asset development in the Greater Taipei area, YC (4306) has again increased its investment in Taipei City land. Its subsidiary, Wangzhou Construction, has announced an investment of NT$476.7 million to acquire a 264.83-ping plot of land in the Beitou District of Taipei City, located at Sanhe Section 57, for future construction and development.
YC Group President Li Zhixian revealed that, considering long-term plans, the company will look to restart land and property acquisition projects, focusing primarily on the Greater Taipei area. Current targets include properties near Taipei Botanical Garden and the Shijianjia area in Dazhi. If these acquisitions proceed smoothly, future projects will focus on constructing two-bedroom and 30-40 ping residential units.
Wangzhou Construction has completed several projects in Linkou and Xinzhuang, adding to its revenue. Among these, the “Wangzhou More” project in Xinzhuang's Fuduxin Redevelopment Area has a total sales value of NT$1.2 billion and has achieved 60% of its sales target. It is expected to be delivered throughout this year, contributing to YC’s revenue and profit for the year.
Wangzhou Construction is also advancing three other projects. Among them, the “Linkou Wangzhou Jipin” project has a total sales value of NT$5 billion and has achieved 60% of its sales target. It is expected to be completed and delivered in the fourth quarter of next year, providing momentum for next year's operations.
Additionally, Wangzhou Construction has land in Linkou and Xinzhuang, measuring 700 ping and 1,000 ping respectively, which are planned for residential development. These projects will adopt a build-and-sell model, with a combined total sales value of approximately NT$7.5-8 billion, enhancing revenue recognition in the following year. |
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