By Ho Wah Foon of theedgeproperty.com
Tuesday, 30 October 2012 13:06
PETALING JAYA (Oct 30): A multinational consortium led by IGB Corporation Bhd has won the bid to build Taipei’s Twin Towers with total investment of about NT$80 billion (RM8.3 billion), according to news reports in Taiwan.
The project, sited at Taipei's Main Railway Station, is Taiwan's biggest urban development project.
"The Taipei City Government announced that the consortium, led by IGB Corp Bhd, a Malaysia-based company engaged in investment holding and property development, had beaten two other bidders for the project, with a total investment of NT$70 billion-NT$80 billion," reported the Taipei Times yesterday (Monday), quoting a government statement.
The official Taiwan Today also carried similar news.
The consortium of Malaysian, Japanese and Taiwanese firms (Taipei Gateway International Development Co Ltd) is expected to break ground for the construction of two high-rise buildings — one with 56 stories above ground and four basement levels, and the other with 76 stories above ground and four basement levels — on the site of Taipei's main railway station within one year.
According to Taipei Times, the two buildings will be "multi-functional, with housing and shopping malls, office spaces and international hotels".
The project, to start in 2013, is expected to cover a total floor space of 158,000 ping (sq metres), equivalent to 1.5 times the size of Taipei 101 Building.
When completed in 2017, the twin towers will serve as the main hub for the Taoyuan airport MRT line to Taipei and five other railway and MRT lines in the capital, according to Taipei Times.
Taipei Mayor Hau Lung-bin said the Taipei Twin Towers project would create 23,000 jobs in the local construction, real estate and services sectors after work commences in 2013.
Meanwhile, Taiwan Today reported that Taipei Main Railway Station will be the site of a multibillion dollar real estate development featuring hotels, offices, restaurants and shops after 2017.
It said under the terms of the project, the Taipei City government will not be responsible for any capital expenditure, but will benefit from its 55% property ownership once the project is completed.
According to the city government, the project has been in the pipeline since 2007 but it failed to take off due to financing problems.
"Taipei Gateway won out as its bid requires no taxpayer funding and offers 55% of property rights to the municipality and other landowners," a city official told Taiwan Today. "The firm's proven management track record is also a strong plus."
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