TAIPEI (Taiwan News) — Honhui Group General Manager Tsui Mei-lan (崔梅蘭) said on Tuesday the company raised its investment in the Taipei Twins project to NT$70 billion (US$2.3 billion).
Honhui Group initially budgeted approximately NT$60 billion for the Taipei Twins project. However, rising material and labor costs necessitated a budget increase, per CNA.
Located near Taipei Main Station and Ximending, the Taipei Twins are expected to be a mixed-use development with a shopping mall, office spaces, a hotel, an observation deck, and an art museum. With two towers of 70 and 53 stories, the complex will rank as the tallest in the city after Taipei 101.
Honhui said that construction of the Taipei Twins began in 2023, with completion scheduled for December 2027. A leasing event will be held in May to offer 88,000 ping (around 290,688 square meters) of rentable space.
Tsui said that Kone Elevators Taiwan Company will supply 94 elevators for the two towers, including 32 double-decker elevators and 62 for office and commercial use. Eighteen double-decker elevators will travel from the first to the 68th floor in 34 seconds, with four offering direct access to the observation deck.
Honhui Group and JSL Construction & Development Company have been awarded the Taipower CR-1 redevelopment project in Taipei's Nangang District. A contract with Taipower is expected to be signed in the first quarter, with an investment of NT$27 billion.
