Taiwan’s real estate market has been growing steadily more buoyant since the end of 2007. There has been steady appreciation in commercial properties’ capital values, and transaction volumes have also been steadily rising. The new KMT-backed government is keen to create closer ties with mainland China to boost the island’s economy, and also to promote property development in the region in general.
Property development in Taiwan has exploded in the last six years, after relaxing of rules that prevented foreign investment in the country. Taiwan’s new president, Ma Ying-jeou, also recently invited a group of Chinese real estate tycoons and self-made billionaires to the country to look at investing in the region. The president aims, through these new and closer ties with mainland China, to increase annual tourist flows to Taiwan from the current level of 80,000 to at least one million per year. This will be achieved by previously prohibited flights directly across the Taiwan straight. These goals have also been endorsed by China’s current president, Hu Jintao.
The promotion of property development in Taiwan has been summarized in a plan which articulates ten new major construction projects, worth an approximate 500 billion to the local economy over a period of five years. This plan was put forward in 2003, but only approved by the government in 2005. Various construction projects will be completed within a very short period of time, aiming to boost Taiwan’s international profile, and having corollary effects of increasing leisure and tourism investments in Taiwan, boosting the Taiwanese property market, and increasing property development in Taiwan. The title ‘New Ten’ differentiates them from the Ten Major Projects put forward by a former Taiwanese president in the 1970s.
Undoubtedly a wonderful community being developed by one of the world’s most renowned developers Emaar Properties. The crafters of the most beautiful master piece created and the symbol of the UAE, Burj Dubai is the tallest building ever made in the history of mankind. Following its quality path Emaar has now entered the Pakistani market with a passion to provide the worthies of Pakistan with another master piece in shape of Crescent Bay, Karachi. 108 Acres of reclaimed land in the sea is a great architectural intervention done by Emaar Giga Karachi Ltd. Simultaneously Islamabad is being gifted by another master piece of Emaar DHA Islamabad Ltd.
The Alma Townhomes and Mirador Villas at Canyon views are setting the benchmark for other developers to bring the standards up to the mark of international level. Emaar is involved in its untiring efforts to create a community having all in it, whatever a Pakistani demands for. Townhomes in shape of duplex, fourplex and sixplex and Mirador villas in one kanal and two kanal options are ideal for Pakistani style of living. Emaar having its reputation of developing a community rather than developing a piece of land is launching one of the most waited large Mix Use commercial complex, Size of which can guessed by calculating the space occupied by four cinema screens included in that Mega project.
Another great success story is the residential, commercial and corporate mix use commercial being developed in the heart of Islamabad, Pakistan called The Centaurus. The project is mainly sponsored by GCC’s one of the biggest investors The TAMIMI Group and being managed by a local developer with a venture named as Pak-Gulf Construction company. The construction being done by the largest Chinese Construction company and designed by the company having some exclusive master pieces to its credit such as Burj Ul Arab(Symbol of Arab) The Atkins. Project is located in the centre of Islamabad where this is the only allotment of plot been done by Capital Development Authority (CDA), Islamabad.
Project is certainly the main attraction for elite of Pakistan living at home or overseas. The clientele comprises of celebrity stars, business community and well known personalities of Pakistan. Project seems to be a great success as most of the residential parts have already been booked and sold out. The method adapted for booking the properties is very much familiar to the method adapted by Emaar Properties in Pakistan, which is to appoint some exclusive agents as the authorized real estate sales consultants for selling the properties. These projects have become the identity of Pakistan and are bringing the foreign direct investment in Pakistan. These success stories are the benchmark for other real estate developers who are considering to start their operations in Pakistan but are having the reservations regarding the security situation.
