Taiwan pushes China's land prices up

[dArKeR]

Land prices have surged more than fivefold in the Shanghai suburb of Songjiang as developers rush to buy more residential land as more Taiwanese high-tech companies are building factories there, a Chinese-language newspaper reported over the weekend.

The report said Hong Kong's Hutchison Whampoa Ltd (和計黃浦), controlled by billionaire Li Ka-shing (李嘉誠), has bought 267 hectares of land to develop residential property in Songjiang Industrial Park (松江科技園) on the outskirts of Shanghai.

Taiwan Semiconductor Manu-facturing Co (TSMC, 台積電) and Quanta Computer Inc (廣達電腦) have started building factories in the industrial park, and the report said local authorities expect the companies will draw more investment to the area as suppliers of parts and equipment move in.

http://www.taipeitimes.com/News/biz/archives/2003/11/10/2003075344