Hongwell Group (宏匯集團), the development arm of computer maker Clevo Co (藍天電腦), held a topping off ceremony for a mixed-use project in New Taipei City’s Sinjhuang District (新莊) that is intended to be a mega commercial complex next year.
The project called Hongwell Plaza (宏匯廣場) is a build-operate-transfer (BOT) venture with the New Taipei City Government that has 27,000 ping (89,256m2) of floor space in a building with 14 floors above ground and two below.
“The complex will create 2,600 jobs and generate NT$5 billion [US$162.25 million] in annual revenue upon its launch in the first quarter of next year,” Hongwell chairman Kent Hsu (許崑泰) told a crowd of well-wishers.
Hongwell is pouring NT$4.6 billion into the project that would feature 400 shops, 100 restaurants, virtual-reality gaming and other entertainment facilities, Hsu said.
The complex has secured an exclusive partnership with Sony Music Entertainment to install a concert hall, Zepp New Taipei, which would host more than 200 performances a year, Hsu said.
In addition, Hongwell Plaza would have 6,000 ping of office space, he said.
The plaza aims to serve the 1.5 million residents of Sinjhuang, Sanchong (三重), Lujhou (蘆洲), Wugu (五股) and Taishan (泰山) districts, where there are no major leisure and entertainment facilities, despite a growing population, Hsu said.
The project is in line with New Taipei City Government efforts to pursue a balanced development plan for the city.
The plaza is within walking distance of the Taoyuan International Airport MRT Line’s A4 Station, said Hsu, whose company has pursued property development as consumers increasingly favor mobile devices and computer manufacturing generates thin margins.
Renowned Taiwanese architect Lee Tsu-yuan (李祖原), who designed Taipei 101, has designed Hongwell Plaza, Hsu said.
Hongwell has since 2014 won three BOT contracts valued at NT$15 billion in Taipei and New Taipei City.
The New Taipei City-based company in December last year lost a bid to develop the multimillion-dollar Twin Tower Project near Taipei Railway Station to a foreign consortium.
Hong Kong-based Nan Hai Development Ltd (南海發展) and Malaysian property developer Malton Berhad won most-favored applicant status, but have yet to ink a contract amid concerns over capital with Chinese origins.
Hongwell could take over the project if Nan Hai pulls out, said the Taipei Department of Rapid Transit Systems, which is the owner of the largest plot of land.
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