Taipei-based real-estate developer Taroko Development Corp (大魯閣開發) yesterday opened its new Taroko Park (大魯閣草衙道) shopping center in Kaohsiung, with the aim of generating NT$5 billion (US$154.24 million) in sales in the first year, the company said.
The shopping center aims to provide visitors with a fun-filled shopping experience with several sports and entertainment attractions, such as a carousel in the front plaza, as well as a go-kart racing track which is a miniature copy of Japan’s renowned Suzuka circuit, the company said.
Unlike its peers, the company said that Taroko Park would derive a majority 61 percent of its revenue from recreation and dining attractions, with department store sales making up the remainder.
Photo: CNA
“I belive we have made the first precedent in Asia with our operational allocation,” a company official said, adding that capital investment in the project totaled about NT$5.3 billion.
The shopping mall has attracted 220 international fashion and sportswear brands, and also houses a shop selling official merchandise of the Lamigo Monkeys professional baseball team, the company said.
Developed as a joint build- operate-transfer project for the Kaohsiung Rapid Transit Corp (KRTC, 高雄捷運公司) and the Kaohsiung City Government, the shopping center is located near to the Caoya Station (草衙), south of the city’s airport.
Taroko’s lease with KRTC is 25 years, and is to be extended for another 10 years with the original landowner — the Kaohsiung City Government — with a guarantee of priority right of renewal for two more 10-year contracts, the company said.
The mall was built under close cooperation between the KRTC and Kaohsiung City Government, in a bid to attract tourists and create job opportunities in the region.
“Taroko Park’s entertainment and shopping offerings are expected to attract 12 million visitors annually,” Taroko Development chairman Jeff Tsai (蔡明璋) said last week, adding that the mall is also expected to generate about 5,000 jobs in Kaohsiung, as well as boost ridership of the city’s metro system by 6 million.
Kaohsiung Mayor Chen Chu (陳菊) yesterday made her way to the opening ceremony via the metro.
Taroko Development, a subsidiary of Taroko Textile Corp (大魯閣纖維), has been determined to enter the nation’s shopping center industry since it was established in 2011.
The company made its foray into the retail sector when it took over the Mode Mall (新時代購物中心) in Taichung from Fubon Life Insurance Co (富邦人壽) last year.
Taroko has also announced tentative plans to launch a new shopping mall in Hsinchu County by the third quarter of next year.
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