Rih Sheng Construction Signs NT$3.394 Billion Syndicated Loan for Guanqian Urban Renewal Project, Construction to Begin in 2028
Rih Sheng Construction announced the signing of a NT$3.394 billion syndicated loan for its Guanqian Urban Renewal Project in Taipei. The project, located at the intersection of Guanqian Road and Xinyang Street, covers approximately 608 ping (2000 sqm) and is scheduled to commence construction in early 2028. It will develop a Class A smart green office building with green building and low-carbon certifications. Taiwan Business Bank led the syndicated loan, which was oversubscribed by 126% with participation from five other banks. Rih Sheng's strategy has shifted from individual project development to urban core node management, focusing on Transit-Oriented Development (TOD) across Taipei, Taichung, and Kaohsiung.
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- 📰 Published: April 13, 2026 at 17:24
- 🔍 Collected: April 13, 2026 at 17:31 (7 min after Published)
- 🤖 AI Analyzed: April 13, 2026 at 18:31 (59 min after Collected)
Rih Sheng Construction announced on April 13, 2026, the completion of a NT$3.394 billion syndicated loan agreement. The funds will be allocated to the Guanqian Urban Renewal Project, situated at the intersection of Guanqian Road and Xinyang Street in Taipei City. The project site spans approximately 608 ping (around 2000 square meters). Construction is slated to begin in early 2028, with plans to erect a Class A office building. Taiwan Business Bank served as the lead arranger for this syndicated loan, which saw participation from First Commercial Bank, Chang Hwa Commercial Bank, Agricultural Bank of Taiwan, Rakuten Bank, and Hwatai Bank, achieving an oversubscription rate of 126%. Rih Sheng stated that the project has achieved 100% integration, with original property owners including Cathay United Bank, CPC Corporation, Taiwan, and Tang Eng Iron Works. The development will involve full reconstruction utilizing a land readjustment approach. The future building will be a Class A smart green office building, aiming for green building and low-carbon certifications. Its eastern facade will feature a setback exceeding 2 meters, incorporating green landscaping. Rih Sheng's core strategy has evolved from "individual project development" to "urban core node management," leveraging Transit-Oriented Development (TOD) strategies. This includes urban renewal projects in Taipei, joint development projects for Taichung MRT, and industrial urban renewal projects for Kaohsiung MRT, connecting Taiwan's northern, central, and southern regions. In northern Taiwan, Rih Sheng has focused on urban renewal and TOD for many years, targeting commercial core areas like Taipei Main Station to enhance asset value and rental competitiveness through high-intensity development and product upgrades. In central and southern Taiwan, the company is responding to population and industrial migration trends by investing in the rail transit economy to foster medium-to-long-term growth.