The Central Taiwan Science Park (CTSP) in Taichung, Taiwan is pushing forward with its second phase expansion which will house TSMC’s most advanced fab yet. CTSP said that over 95% of the land required for expansion has already been agreed for purchase, including the Hsing Nong Golf Course. But according to United Daily News (machine translated), the golf course’s club members are blocking the acquisition because they demand a buyback price for each gold certificate of $1.8 million New Taiwan dollars (NT) —approximately $56,000 US.
This amount is based on 80% of the average NT $2.2-million price of one golf share for a course based in Central Taiwan over the past two years. Given that the Hsing Nong Golf Course issued 1,750 certificates, that amounts to a total of NT $3.15 billion or over US $98.5 million. The current average price of a single golf certificate in central Taiwan has already exceeded NT $3 million (around US $94,000). Nevertheless, the Hsing Nong Golf Course expects to net between NT $15 and $20 billion (US $470 to $626 million) from the sale, even after paying the members’ asking price.
