COMPASS MAGAZINE > February 2013

Taichung Up Close

Taichung Up Close
Ever-Growing Real Estate Market
67%→95% occupancy
Land prices grew approximately 450% in 6 years

Taichung Up Close: The International Real Estate Federation in Taichung special feature

Article provided by Sunny FM
Translated by Angel Pu
Photos provided by Taichung Real Estate Development Association

The distance between Taichung City and the rest of the world is growing smaller and smaller.

Over the past decade, almost everything in Taichung has become increasingly "world-class", from technology and culture to architecture, as the outside world has also become increasingly familiar with this city. These were factors in a decision by the FIABCI (The International Real Estate Federation) to hold its 64th annual meeting in Taichung. From May 24 to 30, 2013, guests from all over the globe will be in Taichung for this event, further reducing the distance between our city and the world.

This column aims to introduce recent Taichung developments from a professional perspective and promote its beauty and improvements.

Taichung's most beautiful attribute is its residents!

The 64th annual meeting of the FIABCI, taking place this May in Taichung, is not only a significant event for Taichung's real estate industry but also an indicator of how important Taichung has become to the world.

A growing number of international companies, such as Costco, Ikea, Decathlon and Uniqlo, have arrived in the city, thanks to the efforts of key figures like Anna Wang, director of the Industrial Development and Investment Promotion Committee of Taichung City (IDIPC), who has played a central role in helping Taichung become an important part of the international business world.

For instance, a 60-kilometer-long area running along Dadu Mountain is known as the "golden area" and is home to over 10 factories producing iPhone components. If all of these plants were to stop operating for a week, the global supply of iPhones would be seriously impacted. This helps underline Taichung's critical role in the supply chain of important parts.
Taichung's other main industries include machine tools, hand tools and bicycle components. To support these sectors, Taichung City Government has planned a precision machinery industrial park that attracted bids from over 200 businesses hoping to be located there. The government will assist the 92 bid-winning businesses in setting up factories in the park, thereby boosting their international competitiveness.

Besides attracting businesses, marketing is also very important. To bring more people to Taichung from a variety of countries, Taichung is actively developing its convention and exhibition business, further helping spotlight the beauty of this city.

Undoubtedly, the FIABCI's 64th annual meeting in Taichung will offer yet another outstanding marketing opportunity, as over 500 members from different chapters around the world are expected to attend this event. Anna Wang is expressing strong confidence that Taichung's impressive architecture, business development and friendly residents will be evident to these visitors and assist in promoting the city's beauty and appeal globally.

Wang also notes that in this current global era of "city competiveness" the mayor usually says that Taichung City's biggest feature and advantage is its local arts and culture. Although Taichung is not the business and political center of Taiwan, it offers both the convenience of a large city and the friendliness of the countryside, with nearby counties like Nantou and Changhua attracting many tourists each year, Wang adds.

According to the IDIPC director, there is still room for the city to improve and fully become an international city. This includes, for example, its public transportation system, which the city government has recently been actively working to strengthen. However, for Wang, Taichung's most beautiful attribute is its friendly residents, and she believes that as the annual FIABCI meeting takes place, Taichung residents will do their best to promote their hometown.