Samsung C&T Wins 750 Billion KRW Contract for Kaohsiung City Mixed-Use Development in Taiwan

Samsung C&T Corporation's Construction Division announced on the 20th that it has won the contract for the Fubon Aojidi Complex Development project, commissioned by Fubon Life Insurance, a subsidiary of Taiwan's Fubon Financial Group.

Expected Perspective View of Aojidi Complex Development in Taiwan / Image Provided by Samsung C&T Corporation

The Aojidi Complex Development is a project to construct a 48-story, 240-meter-high office building, a 23-story hotel, and a 13-story podium connecting the two buildings in Kaohsiung, Taiwan's second-largest city. It is a mega complex development project with a total floor area of 557,000㎡, which will also include a shopping mall and an aquarium.

Samsung C&T secured the contract by forming a joint venture (JV) with a local construction company. It is analyzed that actively communicating with the client to propose the optimal construction period and suggesting differentiated construction methods based on experience in large-scale complex development projects were key factors. Of the total construction cost of approximately 1 trillion KRW, Samsung C&T's share is about 750 billion KRW. Samsung C&T expects the project to become a landmark in Taiwan upon completion.

Taiwan is currently actively expanding infrastructure investments such as international airport expansion and subway construction to drive economic growth. In addition, private-led real estate development projects are actively underway, centered on major cities such as Taipei and Kaohsiung, raising high expectations for participation in additional major projects.

Samsung C&T first entered the Taiwanese market in 1996 by winning a plant construction contract. Since then, it has carried out various projects including high-speed rail, petrochemical plants, and theme parks. Notably, in 2021, it won the contract for the construction of the third terminal of Taoyuan International Airport, with a construction cost of 1.8 trillion KRW, which is currently underway.

A Samsung C&T official said, "Based on the experience and capabilities accumulated through various projects in the Taiwanese market, we are continuously undertaking landmark projects that support Taiwan's economic growth. We will do our best to expand diverse business opportunities in Taiwan based on broad trust with our clients."

This content was produced with the assistance of AI translation services.