Shin Kong Life is preparing to approve the termination of its surface rights on the T17 and T18 plots in the Beitou–Shilin Technology Park, a move coordinated with the Taipei City Government to let NVIDIA take over the sites. City officials confirmed that both sides reached a final consensus late on the 20th, and the formal signing of the termination agreement is expected next week.
The Taipei City Government will pay just over NT$4.43 billion as a termination fee, an amount jointly verified by accountants from both sides and slightly lower than earlier estimates. Shin Kong Life originally secured the 50-year rights to the two plots in November 2021 for about NT$4.4 billion, and today’s agreement marks the end of a long negotiation between the insurer and the city.
This clearing of rights aligns with NVIDIA’s accelerating plans in Taiwan. The Ministry of Economic Affairs has already approved the company’s updated investment proposal, raising the project budget to NT$1 billion for office development and related operations. NVIDIA’s Taiwan subsidiary, established earlier this year, has also completed the administrative steps needed to move forward.
Taipei’s mayor recently met with NVIDIA’s global real-estate leadership and received a formal letter of intent selecting the T17 and T18 sites as the company’s future operational headquarters. If everything stays on schedule, the contract should be finalized before Lunar New Year, and the city aims for a groundbreaking next June, timed with Jensen Huang’s visit for Computex.
#Taipei #NVIDIA #TechInvestment #BeitouShilin #TaiwanBusiness