Some 16,000 hotel and motel units (rooms) will be converted into social housing for younger and disadvantaged renters in the first two years of the programme. - Reuters
TAIPEI (The Straits Times/Asia News Network): Taiwan announced on Monday (Jan 10) new incentives for hotel owners to convert all or part of their properties to social housing, in a scheme that would create more affordable homes as well as give hotels battered by the Covid-19 pandemic an additional source of revenue.
Hotel owners who agree to the scheme will get NT$40,000 (S$1,960) for each room that is converted, and hotels that cease operations altogether because of the pandemic will receive an additional NT$10,000 per room.
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