What:

Dream Plaza launches in Taipei's prime Xinyi Shopping District with NT$1 billion investment, combining Michelin-starred dining, 24-hour retail services, and mixed-concept stores to compete with established players like Shin Kong Mitsukoshi.

Why it is important:

The strategic transformation of a former bookstore into a multi-function retail destination reflects the broader trend of retail space optimization in prime Asian shopping districts, where 24-hour operations and dining experiences are becoming crucial differentiators.

Uni-President's Dream Plaza represents a significant addition to Taipei's competitive retail landscape, transforming the former 24-hour Eslite bookstore space in the Xinyi Shopping District. The NT$1 billion investment aims to capture a share of the district's NT$8 billion business opportunities, competing with established players like Shin Kong Mitsukoshi and Breeze Center. The development features innovative mixed-concept stores, exemplified by retailers combining traditional product categories with complementary offerings such as shoes and bags alongside charms and dolls. A key differentiator is the integration of Taiwan's first department store flagship outlet of a Michelin-starred restaurant, enhancing the destination's appeal. The project maintains the location's 24-hour trading heritage through coffee shops and bookstores, spread across six levels and nearly 25,000 square meters of retail space. This comprehensive approach to retail, combining shopping, dining, and round-the-clock operations, positions Dream Plaza as a modern retail destination catering to diverse consumer needs.

IADS Notes:

The transformation of Taiwan's retail landscape reflects broader trends in Asian department store development throughout 2024-2025. In January 2025, Taiwan News reported Mitsui Group's significant expansion with its fifth department store in Nangang District, featuring a 47,000 ping shopping area and emphasizing in-season products over discounted merchandise. This strategy proved successful, as evidenced by their Linkou outlet's 11% sales growth to NT$8.8 billion. The development parallels regional trends, with Inside Retail reporting in April 2025 how Asian department stores are increasingly focusing on experiential retail and cultural integration. This evolution mirrors successful transformations across Asia, such as Hong Kong's K11 Musea achieving 120% sales growth through its cultural-retail model, as reported by Inside Retail in September 2024. The Dream Plaza's development in Xinyi Shopping District, with its 24-hour services and Michelin-starred restaurant integration, aligns with the broader Asian retail trend of creating comprehensive lifestyle destinations that combine shopping, dining, and entertainment experiences.

New department store opening in Taipei’s glitzy Xinyi District