June 27, 2005
Taipei's Hsinyi financial district, centered around the newly-opened Taipei Financial Center, has already become the place of choice for foreign enterprises in Taiwan, and now the foreign real estate consulting and management firms that provide advice to many foreign clients are setting up offices in the district as well.
While DTZ Debenham Tie Leung International Property Advisers is a long-established presence in the district, Jones Lang LaSalle and REPro International Inc. have recently announced their decisions to move on up to Taipei's eastside.
Jones Lang LaSalle, which has been helping foreign enterprises open offices in the Taipei Financial Center (aka Taipei 101) for seven years, announced for the first time in mid June its decision to move into a nearly 400-ping office in the super skyscraper in September. In addition to gaining it the prestige of working out of the tallest building in the world, this move will put the real estate consultancy in closer proximity to the foreign clients it serves.
REPro International Inc. says that its move up to new offices on Songren Road in the Hsinyi financial district in April is a reflection of just how well its business is going in Taiwan. Earlier this year the firm formed a strategic alliance with Cushman and Wakefield under which it will take over its new partner's clients in Taiwan.
Analysis conducted by real estate firms indicates that lease rates for all classes of Taipei's 240 pure office buildings are on the rise following a period of low rates. With prices increasing and no new office buildings coming onto the market, office building vacancy rates are expected to drop further this second quarter. Some top-rate buildings with low vacancy rates are even projected to up their lease rates. Real estate companies predict that these factors combined with the availability of world-class facilities will make the Hsinyi financial district the hot spot for office building space in Taipei this year.
(United Daily News)
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