Taipei Gov’t to dissolve contract with scandal-tainted real-estate developer

Taipei Gov’t to dissolve contract with scandal-tainted real-estate developer

Taipei Mayor Ko Wen-je announced that the city government plans to terminate its contract with Radium Life Tech Co. over the joint development and investment project surrounding the Nangang MRT Depot, reports said Monday.

“There is no way we are repeating the same mistakes twice,” Ko said, pointing to the expropriation scandal involving the MeHAS City project.

The project, located in New Taipei City’s Xindian District but managed by the Taipei City Department of Rapid Transit Systems (DORTS), was one of several Build-Operate-Transfer items to have become caught up in disputes between the Taipei City Government of Mayor Ko Wen-je and prominent developers, in this case Radium Life Tech.

The project is located on 9.3 hectares of land along the Xiaobitan riverside and is valued at NT$30 billion (US$1 billion).

“The MeHAS City project is a dicey problem,” he said during a press conference in the morning.

With regard to the 8,000 ping (26,448 square meters) of land that Radium filed short of in its development project in MRT Xiaobitan, Ko said the city has put the case to arbitration, demanding NT$7.6 billion (US$245 million) in compensation.

“I have decided to cut our ties with Radium in another joint development project surrounding the Nangang MRT Depot,” he said, adding that he is not afraid the company might sue him for breaching the contract terms, an agreement which was signed during the administration of then-mayor Hau Lung-bin.

Ko said city officials also want to bring other joint development projects onto the table for renegotiation, including the MRT’s Taipei Main, Yongchun, Muzha and Daqiaotou stations, as well as development of areas surrounding the Nangang MRT Depot.

“There is no way we are turning the Nangang depot into another MeHAS scandal,” the mayor concluded.
Taipei City Gov’t to dissolve contract with scandal-tainted real-estate developer.

 

Taipei City Gov’t to dissolve contract with scandal-tainted real-estate developer

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