Dingyue Development Corp (鼎越開發), an affiliate of China Petrochemical Development Corp (中石化), yesterday held a groundbreaking ceremony for a mixed-use complex at the former site of a shopping mall in Taipei operated by Core Pacific City Co (京華城).
The Core Pacific Plaza (京華廣場) in Songshan District (松山) would feature four upscale office buildings with 19 floors above ground and seven basement floors on about 5,000 ping (16,500m2) of land, the developer said.
The 12-story Living Mall ceased operations on Nov. 28, 2019, after 18 years in business.
Photo: Fang Pin-chao, Taipei Times
Construction at the new mixed-use complex is expected to be completed by the end of 2025, Dingyue Development Corp said.
There has been hot demand and tight supply of Grade A office space in Taipei’s central business districts in the past few years, while brick-and-mortar shops have lost business to e-commerce operators, it said.
Dingyue Development Corp said that it would adopt environmentally friendly construction technologies that it first used at Taozhu Garden (陶朱隱園), an affiliated luxury residential complex in Taipei’s prime Xinyi District (信義).
Dubbed the most expensive apartment building in Taiwan, Taozhu Garden has not officially hit the market, repeatedly delayed by unfavorable policy measures and COVID-19 outbreaks.
Shen Ching-ching (沈慶京), chairman of Core Pacific Group (威京集團), which owns China Petrochemical and Core Pacific City, said that the conglomerate is the only company in Taiwan that implements environmental, social and corporate governance (ESG) architectural concepts in residential apartments, factories and office buildings.
Companies have increasingly adopted ESG principles in their operations in the past few years, aiming to have a positive effect on local communities, society and the planet.
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