Kaohsiung's Tungtex Sky Tower, or 85 Skytower, once the tallest building on the island, had largely been in disuse for more than 10 years due to serious debt problems of its owner. But now thanks to the booming cross-strait tourism, this landmark building of southern Taiwan may soon be on its way back to prosperity.

Eleven years ago, the Tuntex Sky Tower was completed, making it the tallest building in Taiwan with hotel, and department stores inside.

However, the management team ran it down to the ground with the department store more like an exhibition space, renting out to earn some extra money.

The Splender hotel on the 34th to 85th floors were recently auctioned off, for which, Kaohsiung tourism industry believes that there is still a great future for Kaohsiung.

With the increase of numbers of business travelers from China to Kaohsiung, Splender hotel focused on those guests and the hotel occupancy rate has increased.

With the confidence in the future tourism market, especially those traveling from China, many old hotels in Kaohsiung are renovating the facilities, transferring owner and some are being invested by the Chinese.

However, it is still questionable whether or not the Tuntex Sky Tower can attract businesses to set up offices there. One of the reasons that businesses are not willing to rent the space is the daily rental that the building is offering, which attracts different kind of people to the location.

The Tuntex Sky Tower was recently auctioned off for NT$ 3.218 billion, though scholars reminded that the building has 25% of its creditors rights still need to be deal with, which may lead to future disputes.