By Crystal Hsu / Workers reporter
Nan Shan Life Insurance coverage Co (南山人壽) yesterday gained the superficies rights to a plot of land in Taipei’s Xinyi District (信義) for NT$31.28 billion (US$1.03 billion), outbidding main home friends by a 17.41 % premium.
Nan Shan gained a 70-year lease to redevelop the previous web site of the Taipei World Commerce Heart Exhibition Corridor 3, which is owned by the Nationwide Property Administration, beating out Fubon Life Insurance coverage Co (富邦人壽), Cathay Life Insurance coverage Co (國泰人壽) and Shin Kong Life Insurance coverage Co (新光人壽).
The victory got here simply 4 months after Nan Shan gained the superficies rights in November final yr to regenerate the close by Xinyi District Family Registration Workplace for NT$15.98 billion, 60 % increased than the asking value.
“The result reveals home life insurers stay eager about land plots in central enterprise districts” although the coronavirus outbreak is softening business commerce transactions, Sinyi Realty Inc (信義) account supervisor Michael Wang (王維宏) stated.
The dearth of latest land lends assist to the competitors, he stated, including that Nan Shan has not stated what it plans to do with the plot.
The decline in premium charges suggests a rise in warning amid bidders, Knight Frank Taiwan researcher Andy Huang (黃舒衛) stated.
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