Plans for the Taipei Sky Tower (TST) were just unveiled last week, and the lifestyle-driven development is targeted at high-end travellers, housing two Hyatt-branded luxury hotels – the Park Hyatt Taipei and Andaz Taipei. Here are five things we know about it so far:
1. It’s expensive
The TST is estimated to cost more than US$1 billion in total development cost, which, going by transaction size, makes it one of the largest projects in Asia in recent years. Top 10 foodie spots revealed – and the winner is surprising
2. It’s tall
TST is 280 metres (920 feet) tall, which makes it the second tallest building in Taipei after Taipei 101 (449.3m), while beating out Shin Kong Life Tower (244.8m). The complex is situated in the city’s Xinyi District, and will contain 500 rooms split between the two hotels.
3. It’s shopping heaven
The development will offer a completely new shopping experience for visitors. There will be a 300-metre-long stretch of flagship stores, and TST is in discussion with global brands to create unique stores that focus on customer in-store experience. Considering the fact that the number of ultra high net worth individuals (UHNWI) in Taiwan is ranked third in Asia after Singapore and Hong Kong, according to Credit Suisse’s 2016 Annual Global Wealth Report, TST is expected to cater to the demand for high-end and high-quality shopping.
4. It’s a design haven
Italian firm Antonio Citterio Patricia Viel (ACPV) – known for the Bulgari Hotels in Dubai, London, Bali and Milan, as well as other urban and mixed-use developments – was responsible for TST’s architecture. For the interior, ACPV handled the design for Park Hyatt Taipei, while Taiwanese design duo Neri&Hu worked their magic on Andaz Taipei. The aesthetic is meant to be East-meets-West, showcasing a balance of modernity and tradition.
5. It’s coming soon (ish)
The project is scheduled to be completed in 2020, according to Aaron Chan, chairman and CEO of Riant Capital, the private equity investment firm behind TST. Chan emphasises that TST will be a “next-generation landmark skyscraper of innovation, efficiency and sustainability”, offering a diversified experience to high-end travellers worldwide.
“Travellers nowadays are tired of the conventional hotel experience but are still unsure about the consistency of what online short-term lodging offers,” he says. “We believe this is where the opportunity lies. We want to create a product that is experiential and exciting, and, at the same time, consistent and operationally well run.”