KRW 750 Billion Construction Project
Large-Scale Development with Total Floor Area of 550,000㎡
Samsung C&T has won a large-scale mixed-use development project worth a total of KRW 750 billion in Taiwan, and is expected to continue full-fledged overseas order wins this year.
Samsung C&T's Engineering & Construction Group (hereinafter Samsung C&T) announced on the 19th that it has won the contract for the Fubon Aozidi mixed-use development project ordered by Fubon Life Insurance, a subsidiary of Taiwan's major financial group Fubon Financial Holding.
The Aozidi mixed-use development project involves the construction of a 48-story, 240-meter-tall office building, a 23-story hotel, and a 13-story neighborhood facility (podium) connecting the two buildings, located in Kaohsiung, Taiwan's second-largest city. With a total floor area of 557,000㎡, it is a mega-scale mixed-use development project that will also house a shopping mall and an aquarium, among other facilities, and is expected to establish itself as a landmark representing Taiwan upon completion. The contract was won by forming a joint venture (JV) with a local construction company, and Samsung C&T's share of the total construction cost of KRW 1 trillion amounts to approximately KRW 750 billion.
Samsung C&T secured this project by driving customer satisfaction—proposing an optimal construction schedule through active communication with the client and offering differentiated construction methods based on the technological capabilities accumulated from its experience carrying out large-scale mixed-use development projects.
Taiwan is currently actively expanding infrastructure investment, including the expansion of international airports and the construction of subways, to drive economic growth. In addition, private-sector-led real estate development projects are also being actively pursued in major cities such as Taipei and Kaohsiung, raising high expectations for participation in additional major projects going forward.
Since first entering Taiwan by winning a plant construction contract in 1996, Samsung C&T won the contract for the new construction of Terminal 3 at Taoyuan International Airport—with a construction cost of KRW 1.8 trillion—in 2021, and is currently carrying out that project.