Sanyuan Construction discounts Taipei Star luxury units to boost liquidity

Sanyuan Construction has accelerated the liquidation of its luxury residential project, Taipei Star, by offering 27 units at approximately an 85% discount to attract buyers. The sales are being exclusively managed by Master Realty. Some units on the 19th floor have been listed at prices below NT$2 million per ping, marking a significant shift from previous management stances that resisted heavy discounting.

Two transactions have already been completed through the new agency, with buyers paying approximately NT$2.01 million and NT$2.02 million per ping. These buyers reportedly utilized cash for the purchases. To mitigate concerns regarding Sanyuan Construction's financial stability, the transactions are being facilitated through property and payment trusts managed by Kingland Bank, alongside independent land administration services to ensure secure title transfers.

The proceeds from these sales are intended to support the company's debt obligations and fund new urban renewal development projects. This strategic pivot highlights the tension between maintaining luxury asset value and the urgent need for liquidity within the developer's financial structure.