A foreign consortium led by a Hong Kong media tycoon won the “Taipei Twin Towers” development project, the Taipei Department of Rapid Transit Systems announced yesterday after five unsuccessful attempts to find a developer.
The consortium of Hong Kong-based Nan Hai Development Ltd (南海發展) and Malaysian property developer Malton Berhad was the most favored applicant for the project next to Taipei Railway Station, the department said, adding that the two sides are to ink a contract in March.
The team offered more generous terms that would allow landlords to keep more floor space and charge higher rents when construction of the mixed-use complex is completed in 2025, it said.
Photo courtesy of the Taipei Department of Rapid Transit Systems
It is the sixth auction attempt for the project, which has been embroiled in bribery scandals for the past 20 years.
The consortium is competing against a local group comprised of computer maker Clevo Co (藍天電腦) and affiliate property developer Hongwell Group (宏匯集團).
The local team could take over if Nan Hai pulls out, the department said.
Nan Hai is to spend NT$60 billion (US$1.95 billion) on the project that would “wow” the region after its completion, chairman Yu Pun-hoi (于品海) told a news conference in Taipei earlier this month.
The team aims to develop two towers — one 65 stories tall and the other 53 stories tall — that would house retail stores on the lower floors, offices on the middle floors and hotel rooms on the upper floors, said Yu, who also chairs Nan Hai Corp (南海控股).
Nan Hai Holding Co (南海金控) is a listed firm in Hong Kong primarily engaged with businesses in China, Hong Kong, North America, Europe and Australia in the culture and media sectors, property development and IT application services.
“Taipei has not seen any eye-catching buildings for a while — not since the construction of Taipei 101 — and we aim to rescue the city from the architectural doldrums with the Taipei City One project,” Yu said.
The project is a real-estate development opportunity and a venue for launching an “online-offline merger” business model in Taiwan — persuading consumers within a physical business to make digital engagement purchases, Yu said.
The complex would add more than 60,000 ping (198,347m2) of commercial space to the area, Yu said, adding that he is not worried about a supply glut, because there are no competitors of a similar scale in the vicinity.
Real-estate prices in Taipei are relatively affordable, compared with that in other international Asian cities, suggesting ample room to improve on the team’s investment, he said.
The Clevo-Hongwell team told local media it would continue to invest in Taiwan, despite losing the contract.
LONG FLIGHT: The jets would be flown by US pilots, with Taiwanese copilots in the two-seat F-16D variant to help familiarize them with the aircraft, the source said The US is expected to fly 10 Lockheed Martin F-16C/D Block 70/72 jets to Taiwan over the coming months to fulfill a long-awaited order of 66 aircraft, a defense official said yesterday. Word that the first batch of the jets would be delivered soon was welcome news to Taiwan, which has become concerned about delays in the delivery of US arms amid rising military tensions with China. Speaking on condition of anonymity, the official said the initial tranche of the nation’s F-16s are rolling off assembly lines in the US and would be flown under their own power to Taiwan by way
FREEDOM OF NAVIGATION: The UK would continue to reinforce ties with Taiwan ‘in a wide range of areas’ as a part of a ‘strong unofficial relationship,’ a paper said The UK plans to conduct more freedom of navigation operations in the Taiwan Strait and the South China Sea, British Secretary of State for Foreign, Commonwealth and Development Affairs David Lammy told the British House of Commons on Tuesday. British Member of Parliament Desmond Swayne said that the Royal Navy’s HMS Spey had passed through the Taiwan Strait “in pursuit of vital international freedom of navigation in the South China Sea.” Swayne asked Lammy whether he agreed that it was “proper and lawful” to do so, and if the UK would continue to carry out similar operations. Lammy replied “yes” to both questions. The
‘OF COURSE A COUNTRY’: The president outlined that Taiwan has all the necessary features of a nation, including citizens, land, government and sovereignty President William Lai (賴清德) discussed the meaning of “nation” during a speech in New Taipei City last night, emphasizing that Taiwan is a country as he condemned China’s misinterpretation of UN Resolution 2758. The speech was the first in a series of 10 that Lai is scheduled to give across Taiwan. It is the responsibility of Taiwanese citizens to stand united to defend their national sovereignty, democracy, liberty, way of life and the future of the next generation, Lai said. This is the most important legacy the people of this era could pass on to future generations, he said. Lai went on to discuss
MISSION: The Indo-Pacific region is ‘the priority theater,’ where the task of deterrence extends across the entire region, including Taiwan, the US Pacific Fleet commander said The US Navy’s “mission of deterrence” in the Indo-Pacific theater applies to Taiwan, Pacific Fleet Commander Admiral Stephen Koehler told the South China Sea Conference on Tuesday. The conference, organized by the Center for Strategic and International Studies (CSIS), is an international platform for senior officials and experts from countries with security interests in the region. “The Pacific Fleet’s mission is to deter aggression across the Western Pacific, together with our allies and partners, and to prevail in combat if necessary, Koehler said in the event’s keynote speech. “That mission of deterrence applies regionwide — including the South China Sea and Taiwan,” he
RSS