To accelerate the development of HSR Taoyuan and Hsinchu Station Districts, BOHSR respectively promulgated the tenders for "Development Projects of Commercial Districts lots No.434 & 435, Ching-Sheng Section in HSR Taoyuan Station District" and "Development Projects of Commercial Districts lots No.24 & 25, Shih-Hsin Section in HSR Hsinchu Station District" on July 6 and July 31 in hope of injecting energy and functionality into these districts.
The two land are categorized as second type commercial areas with 60% building coverage ratio and 300% floor area ratio. The tender specifications include the superficies right of these lands with a limited fifty-year development phase and 20-year, one-time only extension option.
In the future, developers should map out real estate strategies and business development based on original urban planning and relevant urban regulations of the district. Due to development direction of these districts, the developers should open up the area to enhance functionality of daily life and avoid distorting the supply and demand of the residential market. Therefore, developers are not able to build any residential properties.
In Taiwan, taking the HSR for business purpose, visiting or tourism has become very common. In addition, the government and private businesses have invested in HSR station districts and resulted in sophisticated development and business activities. The two fastest developing Station Districts along the HSR line are Taoyuan and Hsinchu stations which possess most market demands. For instance, Cathay Life Insurance, Kindom Construction Co. and other famous enterprises have stationed in HSR Taoyuan Station District and in HSR Hsinchu Station District, Wei-Shun Construction Company, Wei-Sha Investment Company, Sunnine Opto Co. Ltd., etc. have invested shopping malls, hotels, restaurants, office buildings, etc. The business and market potential of these areas are highly anticipated.
It has always been a goal for BOHSR to continually attract passenger vitality into HSR station districts to not only drive development and business activity but also to increase TIAA MRT and HSR traffic. BOHSR welcomes all domestic and foreign enterprises to sign up as independent company or business alliances to participate in the development of HSR extended businesses.