Taiwan: Transglobe to sell building in biggest property deal this year
Source: Asia Insurance Review | Jul 2017
Transglobe Life Insurance plans to auction off an office building in downtown Taipei to better allocate its assets in what is likely to be the biggest commercial property deal this year.
Transglobe did not disclose the building’s asking price. But Mr Billy Yen, the general manager of the auction’s organiser Cushman & Wakefield Taiwan, expects the building to be worth at least NT$10 billion (US$331 million), given its convenient location.
Mr Yen said that there are signs of recovery in the local property market. Total sales in the commercial market are estimated to reach NT$15.7 billion this quarter, which would suggest an 84.7% jump from the NT$8.5 billion last quarter. A