Reported 7 months ago
Taipei, 13th June 2024, 4:10 pm: Xingfu Faw Construction Chairman Cao Yuanbo expressed optimism for the housing market this year, with over 440 billion yuan in new projects on hand to be completed in the next six years, ensuring continued growth in performance. The company approved a dividend of 0.5 yuan and a stock dividend of 1 yuan at the shareholder meeting on the 13th. Looking ahead to 2024, Xingfu Faw is set to complete five major projects including Taoyuan's 'Front Station', Taichung's 'Wenxin Aiyue', Tainan's 'Love Sea', Kaohsiung's 'Xingfu Faw Boai', and Kaohsiung's 'Left Bank of Love River'. The company has a total of over 40 projects in progress, with an estimated total value of 448.5 billion yuan, maintaining steady growth. Focusing on housing and office space to meet rigid market demands, Xingfu Faw aims to consistently grow and provide comprehensive services in the real estate sector, emphasizing its commitment to the market. Xingfu Faw Deputy General Manager Liao Zhaoxiong noted that the company's current project volume of over 448.5 billion yuan will be completed and delivered from 2024 to 2029, with Taichung accounting for the largest share at 30% to 35%, followed by Kaohsiung at 30%, Tainan at 5%, and the remaining portion divided among Taipei, New Taipei, and Taoyuan. Additionally, there are ongoing projects that are pending approval, such as Kaohsiung's Special Trade Zone Phase Three with an estimated value of 50 to 60 billion yuan, and the office space project in Xizhi Gongjian Segment valued at around 20.4 billion yuan, further focusing on the office space market. Regarding the hotel layout of Xingfu Faw Group, Xingfu Faw Group Chairman’s son Zheng Juntian revealed that after opening the Anping Yaluxe Pavilion in Tainan, negotiations are underway with a high-end international hotel brand for the Jinshan Hot Spring Hotel, aiming for an official opening before Lunar New Year 2025. The progress of the Hyatt Hotel in Kaohsiung's 'Museum No. 1' is on track, with an expected completion and opening by the end of next year. Moving forward, one of the largest development projects for the group, Kaohsiung Special Trade Zone Phase Three, has also made progress, with Liao Zhaoxiong indicating that it is currently under review by the Kaohsiung City Government, planning six large office buildings, with Xingfu Faw allocated four buildings including one specially tailored for micro-office buildings with units ranging from 60 to 80 square meters, in order to attract AIot industry and future AI industry chains to settle in Kaohsiung, providing enhanced office services. The estimated total sales are expected to reach 50 to 60 billion yuan in the future.
Source: YAHOO