The building was designed by the Hung Kuo Group . In July 1997, the China Development Corp won the bid to organize financing. According to the Taiwan Central News Agency , groundbreaking ceremonies on this project were held on 13 Jan 1998. TCNA reports this project is a joint venture of government and private investors. The City of Taipei donated the land.
Construction is still at the piling stage.
The agreement comes after several weeks of negotiations between developers and various government agencies. Taiwanese aviation officials had no objection to a tall building in the area in 1996 and a redesign to include record-breaking height had won government approval. Construction has reportedly reached the 5th or 6th floor. Two Chinese architecture magazines, Chinese Architect and Space , report construction on the Plaza complex has begun. The magazines describe Asia Plaza as a complex of high rises, with the tallest tower at 103 stories.