TAIPEI (Taiwan News) — Taipei 101 and Cathay Life Insurance announced Monday their partnership to develop a new landmark project in Taichung, signaling a major expansion of the iconic Taipei brand.

The Landmark Plaza, a mixed-use development combining a high-end shopping mall with office spaces, is scheduled for completion in 2029 and is expected to open in 2030. The project aims to break even within seven years, per CTEE, CNA, and Shopping Design.

While the new mall has yet to be named, it will carry the “101” branding. Cathay Life, which purchased the land in 2018, intends to create a metropolitan landmark that emphasizes innovation and sustainable development.

The project has a total investment of NT$4.5 billion (US$136 million), covering both construction costs and 20 years of rent. Located in Taichung's prime Seventh Redevelopment Zone, the site is close to major department stores such as Shin Kong Mitsukoshi and Far Eastern Department Store.

The development will span about 47,000 ping (155,000 square meters). This includes a 17,000-ping shopping mall across B1 to B7 levels, 35,000 ping of office space, and 12,000 ping of parking space.

With Taichung’s growing population and strong consumer spending power, the city has emerged as an ideal location for Taipei 101’s first expansion outside the capital. The Taichung Economic Development Bureau stated that Taipei 101's proven retail experience will energize the local market, with the city's future total retail sales projected to surpass NT$100 billion.

Taipei 101 Chair Chia Yong-chieh (賈永婕) said the project will cater to the Y and Z generations, people born between the 1980s and 2012, blending fashion, lifestyle, and entertainment. This shift marks a shift from Taipei 101’s traditional luxury focus, with the Taichung project targeting a younger, trend-driven audience.

The development will also be a green building, offering retail, office, and residential spaces while contributing to the city’s long-term growth.