Of the 100 companies renting office space in Taipei 101, 12 are from mainland China, including the flagship firms of many industries.
The latest to join their ranks is Air China Ltd., one of mainland China’s three biggest carriers and the first international airline to move into the building. It is renting about 660 square meters of office space on a midlevel floor.
The company joins mainland China’s three largest oil companies—China Petrochemical Group, China National Petroleum Corp. and China National Offshore Oil Corp.—three leading banks—China Bank of Communications Ltd., China Merchants Bank Co. and Industrial and Commercial Bank of China Ltd.—as well as construction firm China Jin Mao Group Co. The biggest computer manufacturer on the other side of the strait, Lenovo Group Ltd., is also present, through an office of its Netherlands subsidiary.
The number of mainland Chinese firms leasing Taipei 101 office space is only likely to grow as the government continues easing restrictions on cross-strait investment. The building is 12 percent unoccupied and floors 75-84 are currently set aside for the anticipated influx.
Taipei 101 Executive Vice President Ringo Chao said April 10 that although the rental is high, at NT$3,600 (US$120)-NT$4,000 per 3.3 square meters, it is in line with other high-rise rentals in the city and has not moved with the increasing occupancy rate.
According to real estate analysts, Taipei 101’s rentals are lower than those for a comparable high-rise in Shanghai and offer mainland Chinese companies a prestigious landmark location.
Taipei 101’s revenue in 2012 hit NT$12.27 billion, up 14.58 percent year on year, with office rentals comprising about 15 percent of the total. (SDH)
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