TECO Asset Activation: Groundbreaking for Songjiang Road Building Reconstruction Create a New Landmark: an Intelligent Green Building
TECO Group (1504) held the groundbreaking ceremony today (11th)
for the new "TECO Mingtai Building." TECO Group’s Chairman Theodore
Huang, TECO Electric & Machinery 's Chairman, Morris Li, and MSIG Mingtai
Insurance’s Chairman Yosuke Matsunobu jointly presided over the ceremony with
golden shovels, marking the official start of the reconstruction project. Group
Chairman Theodore Huang stated
in his speech that the TECO Building had witnessed the growth of the group and
served as the foundation for TECO. After reconstruction, it will be transformed
into a green and intelligent commercial building, expected to become a
sustainable landmark in the local business district.
Located at the prime intersection of Songjiang Road and
Changchun Road in Taipei City, the over 40-year-old TECO building is co-owned
by TECO Electric & Machinery, Tong An Asset, and MSIG Mingtai Insurance.
The site will be reinvented into a modern commercial building named " TECO
Mingtai Building." The construction project is solely funded by the TECO
Group, with design plans for a 21-story building with four underground levels.
The first and second floors will be dedicated to dining spaces, while the third
floor and above will be exclusively for office use. TECO’s chairman, Morris Li,
mentioned that the new building would incorporate energy-saving, carbon
reduction, and intelligent elements and implement an ICT intelligent management
system. It is expected to not only bring a new look to the Nanjing Songjiang business
district but also generate rental income that contributes to TECO Group's
revenues, create value for shareholders, and align with the new three-year
strategic development plan proposed by the TECO board, aiming at asset
activation.
MSIG Mingtai Insurance Chairman Yosuke Matsunobu highlighted
the historical significance of the TECO Mingtai Building, as it was the
third-generation headquarters for MSIG Mingtai Insurance. The groundbreaking
ceremony symbolizes new beginnings and hope, as MSIG Mingtai will partner with
TECO Group to build up a modern and fully functional building.
TECO stated that the
reconstruction of the TECO building fully demonstrates the group's commitment
to achieving net zero carbon emissions and a sustainable future while also
focusing on the long-term safety of the structure. Emphasis has been placed on
seismic resistance and building quality, evidenced by the seismic construction
certification received from the National Taiwan University Seismology Center,
with completion expected by the end of 2028.