2024-08-09 22:00:00
The private guesthouse of Yilan wealthy businessman Lin Zhaowen’s family, the “Arab Palace” located in Wai’ao, Yilan, recently issued a sale message through commercial arbitration, attracting market attention. Looking back, Lin Zhaowen became rich through business in Arabia. In 1986, he returned to Yilan, Taiwan with tens of billions of assets to buy real estate. However, in the past 10 years, Youai Department Store closed its operations, Lin Zhaowen passed away, Jinying Valley Resort changed hands, and the Arabian Palace was sold. In May this year, Youai The lights in the movie theater are also turned off, and the Lin family’s fortunes are in decline, which is very sad.
Lin Zhaowen was born in Luodong, Yilan in 1936. He was dubbed the “Taiwan Arab King” not only because of his successful career in the Middle East. With his light-colored eyes, deep double eyelids and big beard, he was dressed in Middle Eastern clothes. At first glance, I really thought they were Arabs, hence the name.
Lin Zhaowen went to the Middle East to open the Hua Palace Restaurant, which was very popular among the Chinese. It was also the most common banquet and gathering place for Taiwanese and mainland businessmen. Even the richest man in Arabia and the prince were regular guests. (Photo/reproduced from the official website of the Taipei Economic and Cultural Representative Office in the Kingdom of Saudi Arabia)
Lin Zhaowen revealed that he started his own business in his early years. He sold stationery, ran a printing shop, and undertook the stationery printing business for the county government. After his business gradually started, he invested in Jiamei Food in Dali, Taichung, and engaged in the manufacturing and sales of canned juice.
During the oil crisis in 1973, Taiwan’s economy was in poor condition. In order to survive, Lin Zhaowen was introduced to sell juice through a friend who ran a building materials business in Arabia. At that time, he couldn’t speak Middle Eastern dialect, so he packed up his suitcase with two cards and set out with the dream of making money. When he arrived in Arabia, he ate barbecue and found that Taiwanese businessmen were not used to the local food, which made him smell the business opportunities of Chinese restaurants. In the early days, he only sold some simple porridge and side dishes, which became quite popular.
Then his career grew bigger and bigger, and Lin Zhaowen brought his family in Taiwan to live in Arabia. In order to enter the center of the Middle East, he successively closed small shops and moved to the Arab capital Riyadh and the commercial city Jeddah, where he opened the “Hua Palace” restaurant. Business was so good every day that some people queued up for 3 or 4 hours with number plates. It is said that In its heyday, annual revenue exceeded 800 million yuan, and Arabia’s richest man and princes were regular customers.
Lin Yuda, the third eldest son of the Lin family, returned to Taiwan to take over the business in Taiwan after 2005. In addition to taking over the operation of Youai Department Store, he also established a joint venture with Breeze Chairman Liao Zhenhan to establish a catering brand. (Picture/Newspaper Department Database)
In 1986, Lin Zhaowen returned home with a fortune of tens of billions. He first established “Yida Securities” in his hometown of Yilan, and then built Yilan’s first department store “Youai Department Store” in the urban area. He also bought 200 acres of land on the mountain in Toucheng, Yilan, and operated it. The “Arab Palace” was built on nearly 10,000 square meters of land in Jinyinggu Resort and Yilan Waiao.
“Youai Building” was opened in 1997. It adopts a complex business model of department stores, restaurants and cinemas. It is planned that the 1st to 6th floors will be stores, the 7th floor will be a cinema, the 8th floor will be a banquet hall, and the 9th to 16th floors will be used as restaurants. , becoming a Yilan landmark. Although the business area of the department store is only 3,000 square meters, the annual revenue in its heyday was as high as more than 900 million yuan. Until the establishment of another shopping mall, Crescent Plaza, in 2008, the business and crowds of Youai Department Store declined significantly, and it eventually lost money and closed in March 2016. On the 31st of the month, the lights were officially turned off and came to an end.
It is understood that most of Lin Zhaowen’s family members live overseas. Only the youngest, Lin Yuda, returned to Taiwan after 2005 to take over the business in Taiwan. Lin Zhaowen was not in good health in his later years, so he took over the management of Youai Department Store. In 2015, there were rumors that business groups from Mainland China and Southeast Asian countries wanted to buy Youai, but the Lin family was not willing to sell, so they offered a high price to discourage buyers. Lin Yuda, who was the general manager of Youai Department Store at the time, confirmed to the media, ” The department store was founded by my father. He has had revolutionary sentiments over the years and had no plans to auction it. In order to put an end to the rumors, the price of NT$2.1 billion was offered.”
Lin Zhaowen (middle) was doing business in Arabia. His thick black eyebrows and beard resembled those of Arabs, so he was dubbed the “Arab King of Taiwan”. (Picture/Newspaper Department Database)
Since 2018, there have been reports that the “Jinying Valley Resort” and “Arab Palace” are for sale. Unexpectedly, Lin Zhaowen died of pancreatic cancer in 2019 at the age of 83. The following year, although the “Golden Valley Resort” was successfully sold to the Cai Yinming family of Wangzhong Group for NT$150 million, the “Arab Palace” was still waiting for a price.
In May this year, the Friendship Cinema in the Friendship Building failed to cope with the impact of the environment. The tenant did not renew the lease when the monthly lease expired. Friendship Cinemas also passed into history after 25 years of operation. In July, it was reported that the “Arab Palace” was officially The sale was entrusted to Shangzhong. According to Shangzhong, it was also entrusted to sell in May. It is difficult not to wonder whether the sale plan of the “Arab Palace” has been restarted due to separation or financial pressure. “Arab King” Lin Zhaowen’s career in Taiwan has gone from prosperity to decline, and his story of getting rich in the Middle East has become the legend of “Taiwan’s Arab King”.
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