TAIPEI (Taiwan News) — The Kaohsiung City Government on Tuesday signed a contract with Kuo Yang Construction Co. and Cang Mei Construction Co. for a new public urban renewal housing project in Qianzhen District’s Asia New Bay Area.

Kaohsiung’s Urban Development Department said the project involves an investment of approximately NT$11 billion (US$339 million), per CNA.

The site will cover roughly 1.4 hectares and include two smart residential buildings with four underground and 24 aboveground floors, providing 658 housing units. Developers will also construct two apartment buildings with five underground and 29 aboveground floors, offering an additional 796 units. Designed with 5G connectivity and urban park concepts, the project is expected to be completed by 2031.

The complex will also include shops, a medical clinic, a conference center, unmanned stores, a fitness center, a childcare center, and a library. Public art installations and a YouBike rental station will be set up around the site.

The city government plans to apply for green building and smart building certifications for the development’s structures.

The department added that the project is adjacent to Phase 1 of the area’s development, where construction began in 2022 on 634 units of social housing. That phase is expected to be completed by 2027.

Deputy Mayor Charles Lin (林欽榮) said the project is near Kaohsiung’s technology industry cluster and the future asset management hub to be established by the Financial Supervisory Commission. It is also close to the Light Rail’s Software Technology Park Station and the MRT Shijia Station.

In 2021, the city government and the Cabinet launched the Asia New Bay Area in Qianzhen District to attract industries such as IC design, semiconductor design, petrochemicals, smart port logistics, and film and television. The city continues to attract investment and encourage companies to establish Taiwan branches in the area.