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Taipei, Shin Kong Life terminate land deal
Taipei Times | English | News | Nov. 26, 2025 | UndeterminedReal Estate
The Taipei City Government has finalized the termination of a land use contract with Shin Kong Life Insurance, reclaiming rights to plots T17 and T18 in the Beitou Shilin Technology Park. This move paves the way for Nvidia Corp to construct its Taiwan headquarters in Taipei. Mayor Chiang Wan-an announced that contract talks with Nvidia will commence soon, aiming to sign by February 2026, with construction beginning by mid-2026.
Negotiations between the city government and Shin Kong Life started in June 2025 after Nvidia expressed interest in the site. Shin Kong Life acquired the land rights in 2021 via public tender but had not developed the properties. The city opposed a direct transfer of these rights to Nvidia due to concerns over profiteering and sought a mutual contract termination instead.
Shin Kong Life initially resisted ending the contract, citing potential harm to long-term company interests. However, the insurer later agreed on October 22, 2025, to terminate the contract if reimbursed for incurred costs. They proposed a termination fee of NT$4.47 billion (US$142.14 million), which the Taipei City Council reviewed and slightly revised to NT$4.43 billion. The insurer’s board approved this agreement in mid-November 2025.