TAIPEI (Taiwan News) — Taiwan Railways Corporation has launched a new tender for the commercial complex at Taipei Main Station, introducing a revised profit-sharing structure as it seeks to boost long-term revenue and reinvestment.

Under the plan, the mall will be operated on a 15-year contract with a priority option to extend for another eight years. The minimum investment requirement is NT$7.65 billion (about US$243 million), per CNA.

A key change is the adoption of a regressive royalty system, marking a departure from past arrangements. Rather than taking a larger share as sales rise, Taiwan Railways will lower its percentage for higher revenue levels, a structure the agency says is intended to better align incentives and encourage operators to push overall turnover higher.

The tender covers the B1 level of the station as well as the first and second floors. It encompasses roughly 140 retail units across 3,000 ping (3.3 square meters) of commercial space.

In addition to the investment threshold, bidders will be required to pay a NT$60 million development concession fee and a fixed annual royalty of NT$120 million, per the report. The renovation is expected to take nearly three years, with mall operations continuing throughout.

Taiwan Railways said the Taipei Main Station mall generates about NT$4 billion in annual revenue, an amount it seeks to increase by NT$1 billion under the new operator. Officials have expressed the hope that if successful, the plan could be replicated at other stations.

The current mall operator, Breeze Center, has run the space since 2005, with the existing contract set to expire on July 24. Tender submissions will be accepted through March 20.