Taiwan’s major developers remain positive about their business prospects this year, even though an ongoing COVID-19 outbreak and unfavorable policy measures are dampening buying interest.
Continental Development Corp (CDC, 大陸建設), the property development arm of Continental Holdings Corp (欣陸投控), on Wednesday said that it is planning to go ahead with development projects and land hunting, as it is seeking to support earnings in the next few years.
“The ongoing virus outbreak will be another temporary damper on the housing market,” CDC chief executive officer Liao Tsung-sen (廖淳森) told a news conference in Taipei.
However, the situation would improve once the COVID-19 situation stabilizes,
Huang Hsiang Construction Corp (皇翔建設) has proposed a record-high cash dividend after net profit last year hit the highest in nine years at NT$2.45 billion (US$85.59 million).
With earnings per share of NT$7.46, the company plans to pay a cash dividend of NT$6.3 per share, or a payout ratio of 84.45 percent. It suggests a yield rate of 13.86 percent, based on yesterday’s closing price of NT$45.45 for Huang Hsiang shares.
Consolidated revenue last year amounted to NT$7.85 billion, boosted by residential projects in Taipei and New Taipei City, the company said.
URBAN RENEWAL
The company is seeking to undertake urban renewal projects, as
Taipei office demand remains strong: JLL
NO VACANCY: Demand for grade A office space, especially from tech firms, is so robust that even upcoming projects have secured tenants, Jones Lang LaSalle said
By Crystal Hsu / Staff reporter
Vacancy rates for grade A offices in Taipei held relatively steady at 2.1 percent last quarter, while monthly rent edged up 0.7 percent to an average of NT$2,828 (US$99.48) per ping (3.3m2) as demand remained strong, while space is limited, Jones Lang LaSalle Inc (JLL) said yesterday.
The vacancy rates suggested a small net takeout of 25 ping as a lack of new supply is hampering activity, JLL Taiwan managing director Tony Chao (趙正義) told a news briefing in Taipei.