TAIPEI (Taiwan News) – A white Arabian-style property located on Wai'ao Beach in Yilan County has reportedly been sold for approximately NT$2 billion (US$67 million), the Liberty Times reported on Monday (July 8).
The landmark, nicknamed the “Arab Palace” and “Little White House,” was built by Lin Chao-wen (林昭文), the late founder of Yoai Department Store in Yilan City, as a private guest house. Last year, the sprawling complex was reportedly put on the market.
The buyer in the latest rumored transaction was reportedly the owner of a construction company from outside Yilan County, Liberty Times reported. However, Yoai Department Store's vice general manager, Yu Wen-hsiung (余文雄), has denied the report, saying that "things have not even begun to take shape” and that he had never heard of the transaction.
Inside the impressive structure is Lin's collection of Middle Eastern treasures, which include wood sculptures, copperware, and porcelain, the report said. The Arab Palace has always been shrouded in secrecy, as the property is off-limits and most of the structure is hidden from public view behind a tall, white wall.
Since the guest house was not being put to good use, Lin once intended to turn the building into a hotel, the Liberty Times reported. However, in August of last year, his family reportedly decided to put two of the buildings, along with the valuable objects kept inside, up for sale for NT$3.3 billion.
Lin made his fortune as a businessman in Saudi Arabia more than 30 years ago and remained in the Middle East for many years before returning to Yilan to found Yoai Department Store in 1997. Lin died this April at the age of 83.