Taipei City opens up revenue sources, promotes superficies rights investment

To expand revenue sources, the Taipei City Department of Finance yesterday announced this year's fiscal measures, including details of investment invitations for cases such as the land rent for the superficies rights of the Taipei 101 building and the superficies rights for the A25 land.

Deputy Director-General of the Department of Finance Chang Chih-hsiang said that due to the central government's amendment of laws to reduce and exempt taxes and the poor economic climate, the Department of Finance is studying the securitization of land rent claims on non-public city-owned land and the issuance of beneficiary securities, planned on a 10-year basis, with an estimated issuance of about NT$2.6 billion, in order to add revenue channels.

Among these, for the land rent of the superficies rights of the Taipei 101 building, the estimated annual rental income is about NT$220 million; the annual income from the land rent of the superficies rights of the Regent Taipei is about NT$67 million, with an investment invitation to be announced in March.

Chang Chih-hsiang pointed out that for the superficies rights investment case, the 6 parcels of land in the Changchun section of Zhongshan District have a total area of about 2,747 ping, and are in a commercial district special zone with a building coverage ratio of 45% and a floor area ratio of 250%. The private investment amount is NT$8 billion (with a base right premium of NT$5.68 billion), land rent must be paid, and it can be used for mixed commercial use. It has now been announced, and bidding is expected to open on February 25.

In addition, the A25 land superficies rights case is the last developable parcel of land in Xinyi District, with an area of about 1.8 hectares. It is a business facilities zone and can be used for a corporate headquarters or a commercial hotel. The private investment amount is NT$35 billion (including a right premium of more than NT$24 billion). The investment invitation was announced starting yesterday, with bidding to open on March 12.

She said that the second tender sale of the 5 special-project residences at the Shilin Official Residence will be announced today. They are all 4-bedroom layouts, with a unit price of about NT$750,000 per ping, and bidding will open on February 12; the 50-year superficies rights of the former site of Guangci Boyi Home and the 40-year superficies rights of the former site of the Taipei City Council will also have investment invitation announcements in March and May respectively.

In addition, several cases, including the tender lease case for the former site of the Beitou Guesthouse and the tender sale case for the allocated real estate from the Guomei Construction urban renewal case, will also be promoted this year.