Taipei 101, the world’s tallest completed building, is expected to break even next year as an influx of businesses from China drive rents and occupancy higher.
Bank of China Ltd (中國工商銀行), Bank of Communications Co (交通銀行) and China Merchants Bank Co (招商銀行) are among lenders from across the Strait that have looked at space in the landmark building, said Michael Liu (劉家豪), a spokesman for owner Taipei Financial Center Corp (台北金融大樓公司).
The property may be 90 percent full next year, from 80 percent this year, he said.
“Our profitability will improve with more Chinese businesses renting our office space,” Liu said at a briefing in Taipei yesterday. “When demand increases, we hope our rental prices will rise.”
Taiwan and China are negotiating an agreement to allow more cross-investment in the banking, insurance and securities industries.
Spokespersons at the three Chinese banks could not be reached in their offices.
Rental rates may increase to an average of NT$4,000 per ping, or US$37.38 per square meter, from US$100 per ping now, Liu added.
Taipei 101’s losses may narrow to NT$100 million (US$3.1 million) this year from NT$1 billion last year, Liu said.
The 508m structure will be overtaken as the world’s tallest upon completion of Dubai’s Burj Dubai.
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