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C1/D1 Land Development Contract to Be Officially Signed on December 17

Taipei City DORTS stated that the contract for Taipei Main Station District Parcel C1/D1 (Eastern Part) Land Development Project (C1/D1 Land Development Project) will be formally signed on December 17 with Taipei TWAIN STAR CO., LTD., Taipei City Mayor Ko Wen-je and Taipei TWAIN STAR CO., LTD. CEO Kent Hsu will be personally present for the signing of the investment contract to jointly witness this important moment for successful investor solicitation of the C1/D1 Land Development Project.


DORTS explained that on October 18, they informed runner-up applicant, the Hongwell Group, of their eligibility to fill the vacant position of optimal applicant for the C1/D1 Land Development Project; however, they also requested that the Hongwell Group establish a project company and pay a performance bond prior to December 16. The Hongwell Group completed the establishment of Taipei TWAIN STAR CO., LTD., within the notification period and paid the performance bond, and therefore obtained qualification to sign an investment contract with the government in accordance with the requirements of the tender. Taipei DORTS on December 10 informed the Hongwell Group that they would formally sign the contract on December 17 at 10:30 a.m. at Taipei West Gateway No. 8 Plaza.


DORTS further explained that open solicitation of global investors was formally announced for international bidding of the C1/D1 Land Development Project, which is located at a national gateway, on March 31, 2018. Two large investment promotion explanatory meetings were held during the investment promotion process to attract enthusiastic participation of major domestic and foreign investors. Open biddings for qualification, specification and price were carried out in three stages, and in order to implement open and transparent bidding, Taipei DORTS together with the Agency Against Corruption and Taiwan Taipei District Prosecutors Office established a platform for integrity supervision; furthermore, relevant information is published on DORTS’ official website in order to ensure the fair, just, and open implementation of C1/D1 Land Development Project.


Due to the convenient transportation system and excellent geographical environment, C1/D1 Land Development Project is one of the most promising investment contracts in the world. Moreover, it will have a huge impact on Taipei Metropolitan Area’s overall urban renewal, domestic and foreign investment participation, transportation planning, and business and cultural development. The estimated investment amount for the entire project is NT$60.6 billion, and the development volume is estimated at 166,000 pings. Construction is expected to be completed 6 years and 9 months after the signing of the contract, and it will create an estimated 16,000 future employment opportunities. Each year Taipei City Government will earn NT$1.87 billion in rental income with an increased property tax revenue of approximately NT$1.46 billion; furthermore, the project will generate an economic output value of NT$100 billion.