China Life Insurance Co (中國人壽) yesterday acquired an office building in Taichung for NT$12.05 billion (US$434.75 million), the first time a single property deal has exceeded NT$10 billion in the municipality, Knight Frank Taiwan said yesterday.
The six-year-old office building near Taichung City Hall has 23,500 ping (77,686m2) of upscale office space, with 38 floors above ground and seven basement floors, the consultancy said.
“It is the first time that Taichung has seen a property deal of more than NT$10 billion, as the municipality is growing into a popular investment destination, thanks to improving infrastructure, among other considerations,” Knight Frank Taiwan said.
China
China vowed to curb the influence of technology companies and root out corruption tied to the “disorderly” expansion of capital, a sign that authorities may expand a regulatory crackdown that erased more than $1 trillion of market value last year. In a sweeping communique following the plenary session of the…