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Land and commercial real estate transactions exceeded $300 billion in the first three quarters.

Weekly News Highlight

1. Land and commercial real estate transactions exceeded $300 billion in the first three quarters.

2. Darryl's, Hyatt, and Yen Man combine for nearly $10 billion to grab land in the Eastern SOGO shopping district.

3. Mr. Vincent Hou, Managing Director of Jones Lang LaSalle: In the first three quarters, the leasing area of Office A in North City has already exceeded that of the whole year of 2023!

4. Google is stationed in Taiwan's top factory and office buildings! Chun Yip Chemical's "CAAM Chengde 168" has a record high monthly rent of NT$3,322 per ping.

5. Construction of Kuan Tak's "Panchiao District Office Central Project" will commence today, with the construction of a mixed-use residential and commercial office building.

6. Taishou Bids for Land in Taoyuan Aerospace City to Build a Multi-Purpose Complex with a Total Investment of $50 Billion

1. Land and commercial real estate transactions exceeded $300 billion in the first three quarters.
2024.09.27 Business Times I By Tsai Huifang／Reporter

Compared with the residential market, the land and commercial real estate market is relatively hot. According to Jones Lang LaSalle on the 26th, in the first three quarters of this year, the transaction volume of the commercial real estate and land market reached $153.1 billion and $169.4 billion respectively, which are both record highs and surpassed the transaction amount of the whole year of last year, and the total transaction amount of the land and commercial real estate exceeded $300 billion, reaching $322.5 billion.

However, in the wake of the seventh wave of the Central Bank's "Golden Dragon Storm" of real estate credit control, builders' cash flow has been impacted, and it is estimated that the land and commercial real estate market may change in the future and become more conservative.

Jones Lang LaSalle's Managing Director Hou Wenxin pointed out that land and commercial real estate transactions have been active this year, pushing the volume of the commercial real estate market to new highs. As of September 25th, the volume of transactions in the third quarter reached $82 billion, a 4.41-fold increase year-on-year, or 133% quarter-on-quarter, and the cumulative volume of transactions in the commercial real estate market in the first three quarters reached $153.1 billion, which exceeded the annual transaction record since 2009.

In terms of the land market, the transaction volume in the third quarter reached $83.7 billion, a record high for a single quarter this year, with an annual increase of 113% and a quarterly increase of 130%; the cumulative transaction amount of $169.4 billion in the first three quarters of the year also surpassed the total amount of the whole year of last year.

Hou Wenxin pointed out that, as commercial real estate has more than 30% of the acquisition of builders, more than 60% of the demand for enterprise self-use, as for the land market, builders to buy the amount of money accounted for up to 7% of the 4, it is estimated that in the seventh wave of the central bank real estate credit control, and after the rise of 1 digit, the builders of the capital part of the greater pressure on the scale of the purchase, the frequency of the purchase, it is expected to slow, depending on the different regions and market conditions, so builders to buy real estate and As a result, the momentum of real estate and land transactions by builders will be directly affected.

2. Darley, Hyatt, and Yenven Combine for Nearly $10 Billion Eastern SOGO Shopping District Land Grabbing
2024.09.27 Business Times I By Tsai Huifang／Reporter

There is another land purchase of tens of billions of dollars by a builder! Darley Construction, together with Haiyue International and Yen Man Asset Management Consultant, announced today (26) that the three parties have splashed $9.588 billion to buy the land located at No. 150~162, Sec. 1, Fuxing S. Road, Taipei City, Taiwan, close to the intersection of Zhongxiao E. Road and the seven buildings of Tatung's subsidiary companies, with a base area of 787 ping, joining hands to insert the flag into the Eastern Egg Yolk District, shaking up the real estate market. The sellers are Tatung Asset Development Co. and Chih Sheng Real Estate Co. The transaction amount is $12,181,400 per ping of land, which has boosted the housing market in the SOGO commercial area in the Eastern District. Market participants estimated that in the future, the residential units launched by brand-name builders in the vicinity may be offered at an owner's price of $2 million per ping.

Mr. Liao Cheng-hsiung, Vice General Manager of Tatung Construction, said that Tatung Construction has confidence in the housing market. Today, Tatung Construction, together with Haiyue and Yen-Wen, purchased 13 pieces of land of Tatung Asset Development and Chi-Sheng Realty, a subsidiary of Tatung Company, for a total of NT$9,588 million, which are located in Lot 125, a small section of the Huisheng Section, Da-an District, Taipei City, Taiwan, and the building numbers are No. 150, No. 152, No. 154, No. 156, No. 158 and No. 162 on a section of Fuxing South Road and Lot No. 139 and 144 on the same section. The land is located on Fuxing South Road near Zhongxiao East Intersection, with a land area of 787.1 ping, and currently consists of seven old buildings and is zoned for the third type of commercial area.

Today, High Fashion, Hyatt, and Yen Man successfully grabbed the land with a combined capital of nearly $10 billion, in which High Fashion contributed 60% of the capital and purchased the land with $5.753 billion. Dalai contributed 60% of the capital and purchased the land at $5.753 billion, while Haiyue contributed about 30% of the capital, or about $2.877 billion. As for Yen Man, it is also a big deal, with a 10% capital contribution.

It is learned that the person in charge of Yenven is technology journalist Jen Wenhe, who is also the major shareholder of TSMC supply chain factory New Inductotherm, and Jen Wenxiong, chairman of New Inductotherm, is also one of the major shareholders of Haiyue, and Haiyue only spent $377 million to buy into New Inductotherm in April. Moreover, Jen Wenhe's Taiwan Lefei Company, which has only previously joined forces with Puyong Construction, Puhui Construction and Puqing Development, and Haiyue, and other eight companies, spent $13.1 billion to buy the "Hibiscus Building". building", so it cooperates closely with Haiyue.

Liao Cheng-hsiung said, Dalai purchased the land, is expected to use urban renewal approach to complete the development, and continue to integrate the neighboring landowners; as for the relevant planning and design and project timetable, the total sales of the project to be completed until the completion of the preliminary integration stage to determine.

According to the survey, the East SOGO shopping area surrounding the housing market in recent years, the main indicators of the case, there have been at least 7, including: including the construction of the three rounds of "DIAMOND TOWERS Taipei Star", Fubon construction "Fubon Art Court", Hong Pu construction and Taiwan's Trump construction "Ruiguo", the Dahua construction of the Huai Sheng section of the case of the Duyun, the Lianyun construction of the "Lianyun Yueh Heng", Zhi Rong development "Zhi Rong BR4", the in-laws of the construction of "JIA". The development of "Chi-Wing BR4" and "Kissing Family JIA" by Chi-Wing. Now, Dalai, Haiyue and Yenven are joining the fray, and there will be at least eight major projects competing on the same stage.

Market participants estimate that in the future, in the SOGO commercial area in the Eastern District, the market for residential pre-sale housing per ping is expected to be 2 million dollars as the floor price, and in the future, if coupled with the benefits of the brand name of the building and the characteristics of the product planning, the unit price is expected to be more performance.
Highlights.

3. Jones Lang LaSalle's Managing Director, Mr. Hau Man Shun, said that the leasing area of Office A in North City in the first three quarters has already exceeded that of the whole year of 2023!
2024.09.27 Business Times I By Tsai Huifang／Reporter

The latest statistics released by Jones Lang LaSalle today (26) show that the leasing transaction area of Taipei's Office A market in the first three quarters of 2024 has already exceeded the scale of the whole year of 2023, and the capital market has excellent momentum.

Jones Lang LaSalle Managing Director Hou Wenxin pointed out that the Taipei Station business district because of the completion of the "Huangxiang Taipei Plaza" for lease, the rental transaction market is good, pushing up the rate of single-quarter regional rent increases. In the future, the Taipei Station business district is expected to become one of the major office districts in Taipei City.

Hou Wenxin said, in addition, Taipei City, many B office buildings, are to be demolished and rebuilt, such as the "Hibiscus Building", there are large tenants, planning to move, these have become the main force of the future rigid demand.

The latest third quarterly report released by Jones Lang LaSalle today shows that the office leasing market in Taipei has reached 6,825 ping in the third quarter, with a cumulative total of 24,237 ping in the first three quarters, which has already surpassed last year's full year's transaction volume.

Hou Wenxin also analyzed, Taipei City in recent years set off a wave of office upgrading trend, many B office buildings have been rebuilt, in addition, including the Songjiang Nanjing and Taipei Station West office district area, many corporate tenants have upgraded, boosting the area A office market leasing turnover share, up to 39%, ahead of the other office districts.

In addition, in the future, many large-scale urban renewal projects in Taipei City, including the Formosa Plastics Building, Huan Ya Building, and next year, Guande Civil Rights Office Building will be completed and released, the future will see a lot of new supply, appearing in the Dunbei business district.

Hou Wenxin pointed out that the next three to five years, Taipei City, the main office business district trend, will go west, the chances are pretty big.

4.Google is stationed in Taiwan's factory and office building king! Chun Yip Chemical's "CAAM Chengde 168" has a record high monthly rent of NT$3,322 per ping.
2024.09.25 Business Times I By Tsai Huifang/Reporting

LEED certification or EEWH green building label has become the standard for top commercial office buildings. The newly completed "CAAM Chengde 168" building of Zhenye Chemical Industry has become the first top green building commercial office building in Taiwan to be awarded LEED V4 CS Platinum certification by the international green building certification system, and the first batch of enterprises stationed in it is the world's leading search engine Google, which has rented the 12th to 20th floors, and the monthly rent is 3,322 ping per ping, according to the price registration data. According to the actual price registration information, the monthly rent per ping reaches 3,322 ping.
The rent of the factory office was NT$1,000,000, which set a new record for the highest rent of factory offices in Taiwan, and became the "King of Buildings" of factory offices in Taiwan, which is close to the landmark of the Egg Yolk District.

"The "green trend" has been sweeping through the office market, and in recent years, the trend of "living in green" has led to an increase in the demand for green A-grade commercial offices. The newly completed CAAM Chengde 168 near the Jiantan MRT station in Taipei City has also attracted multinational corporations, such as Google, to move in by using the special LEED V4 CS Platinum certification specifications.

The latest actual price information from the Ministry of the Interior shows that the rent for Google's lease of "CAAM Chengde 168" is NT$3,322 per ping per month, with a total leased area of 4,212.5 pings, floors ranging from the 12th to the 20th floors, and 81 parking spaces; the total monthly rent reaches NT$13.17 million, and the lease period is from June 1st, 2024 to May 31st, 2029, with a total lease period of 5 years.

Mr. Huang Shuwei, Director of Owner's Representative Service Department of Colliers International, said that the land use zoning of "CAAM Chengde 168" is an industrial area, so the type of the building is a factory office, which is a rare LEED Platinum specification, and the latest actual price shows that the monthly rent per ping reaches NT$3,322, which is a new record of the highest rent for a factory office building in the history of the whole of Taiwan, and has leaped to become the king of the factory office leasing market, which is far beyond the peripheral rents in the area by 100%, and is even comparable to the rent of Taipei Egg Yolk Area. It is even comparable to the egg yolk district of Taipei City.
The price of a commercial office is mainly due to the high specification of its hardware and software, which is quite affordable compared to the rental level of commercial office buildings of the same specification in the Xinyi District of Taipei City or in the elite areas of the city.

Zhenye Chemical pointed out that CAAM Chengde 168 is the first top-level green building in Taiwan to be awarded LEED V4 CS Platinum certification, and the first enterprise to enter the building is Google. The building adopts the brand-new Google Cloud AI platform, which comprehensively monitors regional carbon emissions and synchronizes with the guidelines of the United Nations Sustainable Development Goals (SDGs) and the World Green Building Council (WGBC) to help the owner achieve near-zero carbon emissions in stages and accelerate the decarbonization of the real estate industry. In synchronization with the United Nations Sustainable Development Goals (SDGs) and the World Green Building Council (WGBC) guidelines, the building will help the owner achieve near-zero carbon emissions in phases and accelerate the decarbonization of inactive industries, making it the first iconic building in Taiwan to use AI to realize energy conservation, carbon reduction and energy efficiency, and a forward-looking initiative in the Asian region.

5. KWT's "Panchiao District Office Central Project" will start construction today, and will include a mixed-use residential and commercial office building.
2024.09.20 Economic Daily News I By Manning Zhu / Taipei Reporter

The "Urban Renewal Project of Public and Private Land around Lot 472, Banqiao District Office Central Section, New Taipei City" held a blessing ceremony on the 19th of this year. Mayor Hou Youyi of New Taipei City, Chairman Ma Zhigang of Guan-De Construction, and Chairman Lin Yen-Mao of Cooperative Bank of China (Cooperative Bank of China) were the officiating guests, praying for the smooth commencement of the construction project, and looking forward to the creation of a brand new milestone of the urban renewal of the public office and the brand new look of the project.

New Taipei City Mayor Hou Youyi said that the case was originally the mayor's residence, but because of the old condition of the house, the city government assessed the revitalization of municipal land in the form of public urban renewal and combined with the surrounding private land redevelopment, hoping to drive the improvement of the surrounding cityscape environment and provide the public with a comfortable and secure living space, and also look forward to the case of the planning of the public nursery school to meet the needs of the local early childhood education services, so that we can see the efforts of the New Taipei City, and let us make the New Taipei City will become a better place.

Mr. Ma Zhi Gang, Chairman of TPD, said that TPD Group has always aspired to be a driving force in urban regeneration, and has continued to invest in government-sponsored public sector urban renewal projects, focusing on new opportunities rather than just scale in each new case.

Ma Zhigang said, the case in the New Taipei City Government and the landowner's participation in support of the complete planning, this cooperation model is more indicative of the future will be planned as a composite residential office building, will also obtain green building, intelligent building and seismic seal design, in the hope that the urban renewal to create an indicator, to provide residents of the neighborhood sustainable and good new living experience.

The "Urban Renewal Project of Public and Private Land Surrounding Lot No. 472, Fuzhong Section, Banqiao District, New Taipei City" is located at Section 1, Banqiao Culture Road, directly across from Banqiao High School, and is close to the New Banzhou Special Administrative Region and Fuzhong Business District, and is surrounded by the Fuzhong MRT Station and Banqiao Station, which is the core transportation hub, and is well connected to commercial and living opportunities.

The project, with a total base area of 1,119 ping, will be planned as two buildings, namely a 26-storey aboveground, 5-storey belowground residential office complex and a 7-storey aboveground, 5-storey belowground residential building, which will comprise a bank office and offices, stores, a mayor's quarters, and general residences, as well as a public kindergarten space.

In addition, the project will obtain gold-level green building, silver-level intelligent building and earthquake-resistant label design, and integrate local history, culture and aesthetic elements to plan friendly hiking space to become a resting place for local residents, and retain all the utilizable building materials of the old governmental building to be reproduced and utilized in the building in the future, which will not only unite the deep historical memories and living sentiments between the place and the environment, but also link up the symbiosis with the local community. In the future, the building will be recycled and utilized not only to consolidate the deep historical memory and living emotions between the place and the environment, but also to connect and coexist with the local community.

6. Taishou bids for land in Taoyuan Aerotropolis to build a multifunctional complex with a total investment of $50 billion.
2024.09.26 Economic Daily News I By Yang Shiao-kwan / Taipei, Taiwan

The 18.9 hectares of land in the priority industrial zone of Taiwan's largest development project, "Taoyuan Aviation City," was awarded to Taiwan Life, a subsidiary of CITIC Financial Holding Company (2891), yesterday (25) for NT$13.74 billion, with a premium of NT$410 million, and the total investment by Taiwan Life is estimated to be more than NT$50 billion, which is a declaration of Taiwan's intention to create a new landmark in Taiwan and Taoyuan, and to become an indicator of a "complex multifunctional park.

The Taoyuan City Government opened the bidding process for the sale of the I base in the Taoyuan Aerospace City Priority Industries Specialized Zone, and Taiwan Life was awarded the bid, which will be the largest of the nine bases in the Priority Industries Specialized Zone, with a total area of approximately 18.9 hectares and an investment of $13.74 billion.

CITIC Financial Holding announced yesterday that its subsidiary, Taiwan Life, became the winner of the Taoyuan Aerotropolis Project's Priority Industry Zone Land I. According to the announcement by the Economic Development Bureau of the Taoyuan City Government, Taiwan Life won the bid at a price of 137.4 percent.
This is a premium of $410 million over the previous year's price of $100 million.

Taiwan Life responded yesterday that the next step after winning the bid is to wait for the approval of the competent authorities, and that it will follow the Taoyuan City Government's bidding requirements and review opinions to build a multi-functional sports stadium that meets international competition standards, plus ancillary commercial and accommodation facilities to promote regional development.

According to Taiwan Life, the total investment in the construction of new logistics and office facilities based on local market and industry demand is estimated to exceed $50 billion. According to market estimates, the total investment exceeds Taiwan Life's C3 investment by nearly $40 billion.

Taiwan Life emphasizes that the project is located in the Taoyuan Aviation City, an important area for the country's major development plans, and has good potential for development, demonstrating Taiwan Life's active participation in public investment in the hope of creating a new landmark for Taiwan, as well as for Taoyuan, as an indicator of the complex multifunctional park.

Taiwan Life's ongoing public construction projects include the Kaohsiung City Council's public office renewal project, which will be taken in 2023. Relevant planning is already underway, with the restoration of the old city council's office hall as a democratic assembly hall and the construction of a 26-story commercial office building, which is expected to begin in 2025 and be completed in 2030.

The project is also the only two major insurance companies to invest in public construction in 2023, with Cathay Life investing in the Taoyuan Daxi Cold Chain Logistics Center.

This step by Taiwan Life is also in support of the FSC's policy. The FSC encourages the insurance industry to invest long-term capital in public construction, and Chairman Peng Jin-lung recently spoke publicly about his hope for life insurance capital to be invested in public construction.