A groundbreaking ceremony for the Nangang Rail Yard Urban Renewal Project* was held on June 18. Continental Engineering Corporation (CEC), a subsidiary of Continental Holdings Corporation (TWSE: 3703), will be responsible for the construction of unit 1. Situated adjacent to the Taipei Music Center, the site will be revitalized into a notable landmark and a gateway to Taipei City’s East District, featuring mixed use, eco-friendly and green energy facilities for recreation, tourism, accommodation, and commercial services.<\/p>\n
\u201cWe are honoured to have the opportunity to apply CEC\u2019s extensive experience in constructing large, complex, mixed-use developments to this, Taiwan’s largest urban renewal project to date. As Taiwan enters a major urban renewal era, CEC remains committed to contributing to local urban renewal projects with professionalism and new technology backed by our outstanding track record,\u201d said CEC CEO Simon Buttery.<\/p>\n
With a contract value of NT$10.71 billion (inclusive of tax), the project comprises of a mixed-use development above a common podium level with a total new-build area of 23,672 square meters. The project comprises three 21-story SRC residential buildings, an 18-story SS commercial office building, and a 19-story SS hotel building, all situated above a 5-level interconnected basement. Additionally, the first to fourth floors are commercial spaces.<\/p>\n
As of March 31st, 2024, CEC\u2019s revenue backlog reached NT$101.2 billion, equivalent to 4.9 times revenue for fiscal 2023.<\/p>\n