Nan Shan Life Insurance Co (南山人壽) yesterday celebrated the opening of a new commercial tower in Taipei’s prime Xinyi District (信義) that at full occupancy could generate more than NT4 billion (US$134.13 million) in annual rental income.
Standing 272m tall, Taipei Nan Shan Plaza (台北南山廣場) is divided into three parts: seven floors of mixed-use mall space, 48 floors of offices, and a diamond-shaped entrance with a public cultural and art space.
Nan Shan Life won a 50-year lease contract from the Taipei City Government in 2012 to develop the skyscraper on the former site of the Taipei World Trade Center’s Exhibition Hall 2 for NT$26.8 billion (US$898.70 million).
The life insurer declined to comment on rents, but property firms have said the new complex has replaced Taipei 101 as the most expensive office space in Taiwan, with average rents of more NT$4,000 per ping (3.30579m2).
That figure might be NT$5,000 per ping on the top floors, international property broker Jones Lang LaSalle Taiwan said.
The complex has 193,843m2 of floor space divided over 48 stories and four basement floors, according to Nan Shan.
Tenants include international accounting firm Deloitte & Touche Taiwan, which occupies seven floors, or 8,000 ping of office space, Nan Shan communications officials said.
Upscale mall operator Breeze Center (微風廣場) has inked a 20-year lease to turn the mall space into its third department store in the district after Breeze Xinyi (微風信義) and Breeze Song Gao (微風松高).
That department store is due to open in the fourth quarter and will feature luxury brands and eateries, officials said, adding that restaurants would make up 35 percent of the mall’s floor space.
In addition, Breeze Center is to open a supermarket covering 2,222 ping in the plaza’s basement, making it the largest supermarket inside a department store in Asia, officials said.
Nan Shan Life has set up the entrance as a cultural and multi-purpose space, which is currently exhibiting art by physically challenged artists from Taiwan and Japan.
The building, the second-tallest in Taipei, might yield NT$4.6 billion in yearly rental income for Nan Shan, officials said.
As of March, the insurer managed assets of NT$4.15 trillion, with 10 million outstanding insurance policies and 6.1 million customer accounts, company data showed.
On Ireland’s blustery western seaboard, researchers are gleefully flying giant kites — not for fun, but in the hope of generating renewable electricity and sparking a “revolution” in wind energy. “We use a kite to capture the wind and a generator at the bottom of it that captures the power,” said Padraic Doherty of Kitepower, the Dutch firm behind the venture. At its test site in operation since September 2023 near the small town of Bangor Erris, the team transports the vast 60-square-meter kite from a hangar across the lunar-like bogland to a generator. The kite is then attached by a
Foxconn Technology Co (鴻準精密), a metal casing supplier owned by Hon Hai Precision Industry Co (鴻海精密), yesterday announced plans to invest US$1 billion in the US over the next decade as part of its business transformation strategy. The Apple Inc supplier said in a statement that its board approved the investment on Thursday, as part of a transformation strategy focused on precision mold development, smart manufacturing, robotics and advanced automation. The strategy would have a strong emphasis on artificial intelligence (AI), the company added. The company said it aims to build a flexible, intelligent production ecosystem to boost competitiveness and sustainability. Foxconn
Leading Taiwanese bicycle brands Giant Manufacturing Co (巨大機械) and Merida Industry Co (美利達工業) on Sunday said that they have adopted measures to mitigate the impact of the tariff policies of US President Donald Trump’s administration. The US announced at the beginning of this month that it would impose a 20 percent tariff on imported goods made in Taiwan, effective on Thursday last week. The tariff would be added to other pre-existing most-favored-nation duties and industry-specific trade remedy levy, which would bring the overall tariff on Taiwan-made bicycles to between 25.5 percent and 31 percent. However, Giant did not seem too perturbed by the
TARIFF CONCERNS: Semiconductor suppliers are tempering expectations for the traditionally strong third quarter, citing US tariff uncertainty and a stronger NT dollar Several Taiwanese semiconductor suppliers are taking a cautious view of the third quarter — typically a peak season for the industry — citing uncertainty over US tariffs and the stronger New Taiwan dollar. Smartphone chip designer MediaTek Inc (聯發科技) said that customers accelerated orders in the first half of the year to avoid potential tariffs threatened by US President Donald Trump’s administration. As a result, it anticipates weaker-than-usual peak-season demand in the third quarter. The US tariff plan, announced on April 2, initially proposed a 32 percent duty on Taiwanese goods. Its implementation was postponed by 90 days to July 9, then
RSS