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Taipei MRT Land Development Investor Solicitation Paces up: Nearly NT$4.5 Billion Invested in 2021

Following the completion of investor solicitation and contract signing for the following two land development projects: the Songshan line’s Songjiang Nanjing Station (M13) in March and the Banqiao line’s Xinpu Station (M3) in July, on August 27 DORTS announced the approval of the top applicant selected for the Circular line north section’s Station Y26 development project. The contract signing will be completed in October, and the total investment for the three cases is nearly NT$4.5 billion.
 
Among the 88 land development projects which are promoted in cooperation with MRT construction, 62 have currently been completed, two are under construction, seven are undergoing design after the completion of contract signing, one has been given the notification for contract signing, and the rest 16 are underway for land acquisition and preliminary planning which will be launched successively. There has been a cumulative savings of over NT$35.4 billion in land acquisition fees, and the development benefits obtained from land development have financed more than NT$ 8.5 billion for self-liquidation. To date, the area of leasable public development real estate has reached 107,000 pings with a long-term stable rental income of nearly NT$110 million per month.
 
DORTS stated that the impact of the epidemic this year has affected manufacturers’ willingness to invest. Nevertheless, through DORTS’ continual promotion, since March, investment contracts have been successfully signed with PG Construction Development Co. Ltd. and Wang Tai Housing Development Co., Ltd. and JUT Land Development Co. Ltd. for the following two development projects: Songjiang Nanjing Station (M13) and Xinpu Station (M3). The total amount of the contracts is NT$4 billion, and the investors have guaranteed a minimum allocation ratio for land owners which is 6-14% higher than the rate announced by DORTS.
 
In addition, the amount of the contract signed for the Circular line north section’s Station Y26 development project is nearly NT$500 million, and the top applicant, Fabulous Development International Co. Ltd., has guaranteed a minimum allocation ratio for land owners. Furthermore, the bidding results are more than 12% higher than the announcement rate. 
 
DORTS further emphasized that in order to drive local development and prosperity, the pace of land development investor solicitation tasks will not slow down just because of the epidemic. The Wanda line’s Xiaan Station development project and Jincheng Depot and Juguang Station development project, which is the project with the largest scope, are expected to be launched during the first half of 2022.
 
Of these projects, the investment amount for Jincheng Depot and Juguang Station development project, with a base area of nearly 12 hectares, is estimated to reach NT$22 billion. DORTS will also continue to build a fair and transparent and fair and reasonable land development environment and accelerate the speed of regional environmental and landscape improvement.