Next to Taipei 101 in the city’s prime Xinyi District (信義), the Taipei Sky Tower represents a bold and innovative investment by private equity fund Riant Capital Ltd (子樂投資), with help from a local partner, Grand River Development Ltd (碩和開發). Chan said he intends to duplicate this model with the Taipei Sky Tower project, turning it into a city icon that domestic life insurance companies and foreign funds would like to take over after it proves profitable upon completion in 2020. “Taipei Sky Tower aims to be the local version of New York’s Fifth Avenue, refining luxury and efficiency in the retail and hospitality industry,” Riant Capital chairman Aaron Chan (詹偉立) told a media briefing. By Crystal Hsu / Staff reporterThe buyers of CTBC Financial Holding Co’s (中信金控) former headquarters and the adjoining Novel Hall yesterday unveiled plans to build a mixed-use landmark called Taipei Sky Tower at the site to house upscale hotels, flagship stores and a theater. The string of requirements did not scare away Chan and allowed him time to woo investors and plan the tower project, one of the largest real-estate transactions led by an equity fund in Asia and the largest in Taiwan.

Source: Taipei Times July 21, 2016 15:56 UTC