Real estate markets see activity in Nangang and West Kowloon

Commercial real estate markets in Nangang and West Kowloon are seeing significant activity. In Nangang, Taiwan, property prices for office spaces have reached new highs. The recent sale of the ‘Ruentai Yucheng Plaza’ for NT$20.18 billion set a record for a single office building transaction in the country.

Kuo Chan is advancing its corporate headquarters project in Nangang, which has reached the topping-out stage. Designed by Foster + Partners, the project is expected to be completed by late 2027. The development is part of the broader East District Gateway Plan, attracting industries such as biotech, software, and AI.

In Hong Kong, China Resources Land has launched the first round of sales for the ‘Riviera III’ (叡璟II) development in West Kowloon. Approximately 96 units were sold during the initial phase, with a single large buyer purchasing four units for over HK$41 million. Transaction prices for units ranged from approximately HK$13.42 million to HK$18.47 million.