Samsung C&T Lands $585 Million Contract for Landmark Taiwanese Skyscraper

Samsung C&T Corp. has secured a $585 million project to build a monumental 240-meter high-rise office building in Taiwan's second-largest city, Kaohsiung. The construction is part of a broader Fubon Aozihdi Development Project, featuring a 23-story hotel, a 13-story podium linking the two structures, an aquarium, and a shopping mall.

According to The Korea Economic Daily, aside from this 48-story office structure, Samsung C&T is also building a 23-story hotel and a 13-story podium, which is a facility that will link the two buildings in the country's second-largest city of Kaohsiung.

The company said this week that it successfully secured a contract with Taiwan's Fubon Life Insurance for the Fubon Aozihdi Development Project in the country. This is apparently a colossal complex with a total area of 557,000 square meters. It will also have an aquarium and a shopping mall.

Once completed, the project is expected to become a leading landmark in Taiwan. Samsung C&T was able to win the contract commissioned by Fubon Life Insurance via a joint venture with a Taiwanese builder.

Furthermore, Korea Joongang Daily reported that to carry out this order, Samsung C&T agreed to a joint venture with the local construction firm. It was mentioned that the firm's involvement in the construction business in the country dates back to its very first deal, which was signed in 1996.

Since then, it has been able to enter the Taiwanese market and explore other sectors that allowed it to expand here.

Taiwan is actively boosting its infrastructure investments and has been building new airports, subways, theme parks, railroads, and other facilities for economic growth. As this move primarily requires construction, there is a higher chance that Samsung C&T will be able to win more projects in the future.

Photo by: Samsung C&T Newsroom