(Taipei) Shin Kong Life Insurance Co., Ltd. (SKL) today (June 14, 2010) sold by public auction a 1,139 square-meter property at Lot Chen Chung, Chung Cheng District, Taipei City. The floor price was NT$1,720 million. Royal Seasons Hotel Company submitted the winning bid of NT$1,823 million.

SKL stated that the property is located at the intersection of Chung Hua Road Section 1 and Bao Ching Road in Lot Chen Chung of Taipei's Chung Cheng District. The site is located by the MRT Ximen Station Exits 2 and 3, making transportation highly convenient. The site is also in the popular Ximending shopping district. In the current low-interest investment environment, unbroken plots of real estate in good locations are in high demand. Royal Seasons Hotel Company's NT$1,823 million bid represents a unit price of about NT$1.60 million per square meter and a 6% premium over the floor price.