The Taipei 101 office building laid claim to the title of the world's tallest skyscraper following a ceremony yesterday to position a 60m spire on top of the structure.
With the addition of the spire, the building boasts of a full height of 508m, eclipsing Malaysia's Petronas Twin Towers, a company executive said yesterday.
"We believe that Taipei 101 will bring a fresh taste to Taipei's skyline," said Lin Hong-ming (
PHOTO: REUTERS
Lin hopes the landmark, though still under construction, will attract more tenants in the Hsinyi district.
Though the leasing of office space is still in its initial stages, Lin expects about 80 percent of the 60,000 ping at Taipei 101 will be leased within 18 months.
"What concerns our potential tenants is how to earn more money after moving into Taipei 101 [with around-the-clock services] rather than saving money through lower rentals," Lin said.
Jones Lang LaSalle Taiwan, the primary leasing agent for the Taipei 101 tower, is not sure about the leasing prospects, however.
"We're seeking the right price and right tenants, who will have long-term occupancies. We're not in a rush," Matthew Shaw, director of Jones Lang LaSalle Taiwan, told the Taipei Times.
Property-market watchers said that slow corporate spending, a lukewarm office market, an increasing supply of office space and high rental rates charged by the Taipei Financial Center could dash the company's hopes.
"Eighty-percent occupancy is an aggressive target. I doubt many potential tenants are available now as big international companies such as Hewlett-Packard Co and IBM Corp just signed new lease contracts for new offices in the area," said Derek Huang (
Though Taiwan's economy is showing signs of recovery, the resilience has not extended to the office market, Huang added.
Carol Su (
For the moment, corporate CEOs are unlikely to rent luxury offices, Su said.
Another factor that could slow Taipei 101's leasing progress is the impact of the Sept. 11, 2001, attack on the twin towers in New York. Su said the attacks appear to have dampened multinational corporations' interest in skyscrapers.
A growing supply of office space in the Neihu and Nankang districts also put the leasing plan in trouble as those offices are attractive to companies looking for lower rental rates, Huang said.
Rents are about NT$1,100 per ping per month and NT$600 per ping per month in the Neihu and Nankang areas, respectively, according to Huang.
The rents will range from NT$3,000 to NT$4,000 per ping for tenants of Taipei 101, an official at the Taiwan Stock Exchange, one of the skyscraper's major shareholders and future tenants, said last month.
FREEDOM OF NAVIGATION: The UK would continue to reinforce ties with Taiwan ‘in a wide range of areas’ as a part of a ‘strong unofficial relationship,’ a paper said The UK plans to conduct more freedom of navigation operations in the Taiwan Strait and the South China Sea, British Secretary of State for Foreign, Commonwealth and Development Affairs David Lammy told the British House of Commons on Tuesday. British Member of Parliament Desmond Swayne said that the Royal Navy’s HMS Spey had passed through the Taiwan Strait “in pursuit of vital international freedom of navigation in the South China Sea.” Swayne asked Lammy whether he agreed that it was “proper and lawful” to do so, and if the UK would continue to carry out similar operations. Lammy replied “yes” to both questions. The
Two US House of Representatives committees yesterday condemned China’s attempt to orchestrate a crash involving Vice President Hsiao Bi-khim’s (蕭美琴) car when she visited the Czech Republic last year as vice president-elect. Czech local media in March last year reported that a Chinese diplomat had run a red light while following Hsiao’s car from the airport, and Czech intelligence last week told local media that Chinese diplomats and agents had also planned to stage a demonstrative car collision. Hsiao on Saturday shared a Reuters news report on the incident through her account on social media platform X and wrote: “I
SHIFT PRIORITIES: The US should first help Taiwan respond to actions China is already taking, instead of focusing too heavily on deterring a large-scale invasion, an expert said US Air Force leaders on Thursday voiced concerns about the Chinese People’s Liberation Army’s (PLA) missile capabilities and its development of a “kill web,” and said that the US Department of Defense’s budget request for next year prioritizes bolstering defenses in the Indo-Pacific region due to the increasing threat posed by China. US experts said that a full-scale Chinese invasion of Taiwan is risky and unlikely, with Beijing more likely to pursue coercive tactics such as political warfare or blockades to achieve its goals. Senior air force and US Space Force leaders, including US Secretary of the Air Force Troy Meink and
Czech officials have confirmed that Chinese agents surveilled Vice President Hsiao Bi-khim (蕭美琴) during her visit to Prague in March 2024 and planned a collision with her car as part of an “unprecedented” provocation by Beijing in Europe. Czech Military Intelligence learned that their Chinese counterparts attempted to create conditions to carry out a demonstrative incident involving Hsiao, which “did not go beyond the preparation stage,” agency director Petr Bartovsky told Czech Radio in a report yesterday. In addition, a Chinese diplomat ran a red light to maintain surveillance of the Taiwanese