The 12-second-video was shared earlier today by a Taiwan-based Facebook community Baoliao Commune.
In the clip, bystanders could be heard screaming as the scaffolding got blown off and fell apart in the wind.
The shocking footage attracted more than 303,000 clicks in just five hours.
Another video posted by Baoliao Commune showed how the debris fell into the car park underneath, smashing the space.
The 22-storey building is 178 metres tall (584 feet) and is currently under construction to be converted from a department store to a luxury hotel, according to Yahoo.
The debris smashed one car underneath and injured two women inside the vehicle, but neither of them sustained life-threatening injuries, wrote the same report.
A section of the tram cables nearby was also destroyed by the scaffolding and the tram service has been suspended for repair works, according to a Facebook post by Taiwan Railway Administration.
An employee of the Baoliao Commune, who lives in southern Taiwan, said the wind was extremely strong today. The member of staff, named Micio, told MailOnline: 'I have been pushed around by the wind today. 'I went into town to work in the morning. In the afternoon, all offices in southern Taiwan closed down. 'When I came back home at noon, I was pushed into the middle of the road by high winds and my car almost flipped.' Typhoon Megi made landfall in Taiwan yesterday. It is the third storm to hit the island in two weeks, with thousands evacuated, schools and offices closed and hundreds of flights disrupted. More than 50 people were injured as the typhoon brought violent winds and torrential rain across the island throughout the morning before making landfall at 2:00 pm local time.
Over 8,000 people have been evacuated from their homes and around 2,800 are in shelters, according to the Central Emergency Operation Centre. At least two million households have lost power. A total of 400 international and domestic flights were cancelled as of Tuesday afternoon, and over 400 delayed. Most trains and ferries were halted.
Taiwan is still recovering from damage brought by Super Typhoon Meranti earlier this month - the strongest storm in 21 years to hit Taiwan. Meranti, which left one dead in Taiwan before killing another 28 as it moved to eastern China, was followed closely by the smaller Typhoon Malakas.