Jitai Zhongxiao Building: Record-Breaking Commercial Real Estate Deal Sets New Market Highs

2023-10-04 22:30:58

Kitai Zhongxiao Building.

Jitai Construction (2538) late yesterday (4) announced on behalf of its two subsidiaries, Junhui Development and Jinghui Development, that the entire building of “Jitai Zhongxiao” under its subsidiaries was sold to a buyer named Li for a total price of 12.5 billion yuan, setting a record for commercial real estate this year. The largest transaction amount and commercial office market reached a new regional high of 1.48 million yuan per square meter. Jitai Construction pocketed a profit of 5 billion yuan, and its operations and finances simultaneously received reassurance.

The entire building of “Jitai Zhongxiao” was sold for 12.5 billion yuan. The company’s stock price has recently expressed its position. The stock price suddenly hit the daily limit on the 3rd, with a large volume of more than 17,000. On the 4th, the trading volume exceeded 21,000. However, the stock price opened high and then fell, finally closing at 15.7 yuan. The stock price trend is interesting.

According to the announcement of Jitai Construction, two subsidiaries, Junhui Development and Jinghui Development, hold the entire building at Nos. 78, 80 and 82, Section 1, Zhongxiao West Road, Zhongzheng District, Taipei City, and sold it to a natural person named Li for a total price of 12.5 billion yuan. , the transaction included 448.3 square meters of land and 8,203.93 square meters of buildings, setting a record for the largest commercial real estate transaction amount this year, surpassing the acquisition of the entire “Xinguang Tianmu Jiashibao” building by Dinggu Real Estate in June for approximately 11.68 billion yuan.

The market is curious regarding who the natural person named Li is? It is reported that the mysterious large investor may be the same person as the buyer of the “Domestic Industrial Building” last year, that is, Lai Senyuan, the old director of Yixiong Construction, and the “natural person surnamed Li” is his external representative. However, as of press deadline, no confirmation from the other party was received.

Market participants speculated that Lai Senyuan took action, mainly because in the middle of last year, Lai Senyuan also used his identity as a natural person surnamed Li to buy the “Domestic Industrial Building” in Kitai for 6.5 billion yuan. It is not surprising that he would take action once more this time. Lai Senyuan’s net worth is estimated to be over 10 billion, but he has a low-key personality, has little contact with the outside world, and focuses on company management.

Jitai Construction pointed out that the expected disposal benefits of this transaction are regarding 5 billion yuan. After the transfer of the entire case is completed, the relevant income will be recognized, and the contribution to Jitai Construction per share will be as high as 11.4 yuan. It is equivalent to announcing that the company’s financial stability is stable, and the external concerns regarding the impact of the “Jitai Dazhi” neighboring building collapse incident on the company’s operations are expected to be wiped away.

Ding Wenzhen, associate director of Savills, pointed out that the transaction price of the first and second floor stores is regarding 6 to 3 million yuan per square meter, and the transaction price of the upstairs office is regarding 1.48 million yuan per square meter, setting a record for the Taipei Station office business. Circle new high.

She analyzed that office products with transaction prices exceeding one million yuan per square meter are quite rare in the Western District. In the past, several well-known commercial buildings, including Chongsheng Building, Huangxiang Zhongshan Building or Shin Kong Zhongshan Building, had the highest transaction price per square meter at 115-118 yuan. Ten thousand yuan, this time the regional commercial and office market price has reached 1.48 million, simultaneously setting a price ceiling for new commercial and office buildings in Taipei City’s West District.

The “Jitai Zhongxiao” building is located at the intersection of Zhongxiao West Road and Chongqing South Road in Taipei City. It was completed at the end of 2019. It is a composite commercial skyscraper with 37 floors above ground and six floors underground. The first to fourth floors are planned as shopping malls, and the fifth to 37th floors are A top-notch office building.

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