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September 19, 2017

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Chinese company to establish office in 101

TAIPEI, Taiwan -- Reports indicate that Cheetah Mobile Inc. (獵豹移動), a China-based antivirus software company is poised to rent Taiwan's most expensive office space on the 83rd floor of Taipei 101.

Real estate agents stated that the move represents a gesture of resolve by the Chinese company, and estimated the rental agreement to cost at least NT$4,500 per ping, with the office likely to be ranked among the most expensive in Taiwan. A ping is approximately 3.306 square meters.

Currently, the most expensive office space in Taiwan is situated on the 84th floor of Taipei 101, the highest floor at which commercial space is up for rent in the landmark building. The 84th floor office space is currently occupied by a holding company owned by the Ting Hsin International Group.

According to reports, since the 83th floor of the Taipei 101 became open for rent recently, several companies have approached the building's management, wishing to rent the whole floor. Prospective renters, however, balked at the high prices set by managers of Taipei 101. Cheetah Mobile Inc. emerged shortly after, snatching up 200 ping.

Meanwhile, Taipei 101 management declined to provide comments on ongoing rental negotiations with the China-based company, but revealed that currently Chinese firms number at around 12, representing more than 10 percent of overall rentals, adding that the building is at 96 percent rental capacity. Taipei 101 management also stated that vacant office space is mostly situated near the top floor of the building, and that prices begin at around NT$4,000 per ping.

Commercial real estate agencies pointed out that notable China-based enterprises with a base in Taipei 101 include Sino Steel (中國中鋼), the China National Petroleum Corporation (中國石油), Air China (中國國際航空), Shenzhen Airlines (深圳航空), the Sinochem Group (中國中化) and the Bank of Communications (交通銀行), in addition to the 495 pings rented by a Shandong-based cross-strait cultural exchange association.

Notable foreign companies in Taipei 101 include Symantec Co. Taiwan, and Franklin Templeton Investments, which occupy 425 pings and 76 pings, respectively.

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