TAIPEI (Taiwan News) — American retail giant Costco is reportedly eyeing Changhua City in central Taiwan for the location for its next store.
Costco has been a popular store in Taiwan, but only two of its 14 branches are located in the central region, both in Taichung. Residents in neighboring Changhua can only travel to Taichung for their shopping needs.
This could change in the near future, as Changhua Mayor Lin Shih-hsien (林世賢) revealed the company is working to acquire land for a new store, reported Mirror Media. This comes hot on the heels of the announcement that the Chungyo Department Store is also coming to the city, with a new store slated to open in 2024.
Costco has for years tried and failed to secure a suitable property for the proposed new branch and is upbeat about the local business potential. According to UDN, on average Changhua residents account for over 30% of the NT$10 billion (US$357 million) annual sales for the company’s Nantun store in Taichung.
Quick to capitalize on the commercial prospects, Taiwan developer PJ Group has embarked on a land procurement drive. This year it has acquired a total of seven units of property in Changhua at a combined price of NT$743 million, wrote UDN.