TAIPEI (Taiwan News) — With house prices rising amid persistent unconfirmed reports that Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC) will build a chip plant in Kaohsiung, Mayor Chen Chi-mai (陳其邁) said Thursday (Sept. 30) the city would build 8,800 social housing units.
Business has been booming for the world’s largest contract chipmaker due to rising demand for electronics and a shortage of automotive semiconductors. As a result, the site of a former CPC Corporation, Taiwan oil refinery in Kaohsiung has been the focus of reports that TSMC would soon unveil plans for a foundry in the southern city — even though no confirmation has so far emerged.
The speculation has driven up home prices in the area, CNA reported. In order to meet rising demand for housing near industrial areas, Kaohsiung City will work with the central government to add 8,800 units of social housing, Chen said.
The mayor estimated total demand near science parks at 50,000 apartments, to be met by various types of housing formulas, including social projects built in cooperation with the city government.