Cinema Tenants Determining Success of Commercial Facilities, Large Multiplex Opening Draws Attention to 'Hyundai Silicon Alley Square Dongtan'

[Commercial facility 'Hyundai Silicon Alley Square Dongtan' within the complex knowledge industry center in Dongtan Techno Valley]

With the 52-hour workweek system and the work-life balance (WLB) trend, the number of people enjoying leisure time is increasing, leading to a heightened interest in cultural activities. As a result, commercial facilities offering diverse cultural content are gaining popularity.

The most common cultural content is movie watching. It is more accessible than pure arts and less burdensome in terms of cost. According to data from the Ministry of Culture, Sports and Tourism, in 2018, the attendance rate for cultural and artistic events was dominated by movies at 75.8%. This rate is more than three times higher than that of popular music/entertainment, which ranked second at 21.1%.

Consequently, competition among commercial facilities to attract multiplex cinemas is fierce. Installing a movie theater can attract numerous visitors and is highly valued for its potential to grow into a landmark through increased brand awareness. Additionally, many visitors dine or shop before and after watching movies, which can have a spillover effect on surrounding stores.

An industry expert stated, “As the real estate market atmosphere seeks stable returns recently, commercial facilities with key tenants that have low vacancy rates are attracting high interest. Multiplex cinemas are particularly noteworthy because they often attract large groups, securing a richer demand.”

One reason why the commercial facility within the knowledge industry center ‘Hyundai Silicon Alley Square Dongtan,’ which is about to be launched in Dongtan Techno Valley, is drawing attention is its plan to host a multiplex cinema. The multiplex ‘CineQ’ by NEW, one of Korea’s top content media groups, has confirmed its tenancy, with a total of five theaters planned on the basement first and second floors.

Moreover, unlike typical office complexes where foot traffic sharply decreases after work hours, ‘Hyundai Silicon Alley Square Dongtan’ includes dormitories within the same building, enabling consumer inflow 365 days a year. Since movie attendance tends to be high on weekends and evenings, a more stable demand is expected.

In addition, a large bowling alley with 12 official lanes has been confirmed to open, which is expected to serve not only as a gathering place for tenant companies’ social events but also to attract active access from residents of nearby apartment complexes. Dongtan Techno Valley, where this facility is located, is planned to house about 4,500 companies and a resident population of approximately 200,000. It is also conveniently close to major corporate complexes such as Samsung Electronics, Doosan Heavy Industries, and Korea 3M.

The application of a specialized theme to differentiate it from ordinary commercial areas is also noteworthy. ‘Hyundai Silicon Alley Square Dongtan’ is designed with a New York street mall concept, featuring New York-style red brick and graffiti designs from the exterior to the interior. A large media facade is installed at the entrance to maximize visibility, and various performances will be held in the main plaza to naturally attract foot traffic.

Regarding location advantages, it occupies a corner at a four-way intersection, offering excellent accessibility. It is conveniently connected to the Gyeongbu Expressway via Giheung IC and Giheung-Dongtan IC, allowing easy access to the Yongin-Seoul Expressway and the Second Ring Expressway. The SRT Dongtan Station, connected to Seoul Suseo Station, will also have the GTX-A line added.

Meanwhile, the model house for ‘Hyundai Silicon Alley Dongtan’ is located at 570-6 Dongtan Giheung-ro, Hwaseong-si, Gyeonggi-do, behind Hanmi Pharmaceutical. In particular, to ensure customers can visit safely amid the recent spread of COVID-19, a thorough quarantine system has been established. As of the 27th of last month, the entire model house was disinfected, and visitors are required to use hand sanitizer upon entry. Additionally, thermal imaging cameras (with staff assigned) have been installed. Air purifiers operate to maintain clean air quality, visitor flow is controlled, and daily disinfection is planned.

Along with this, a media facade to be installed in the commercial facility can be directly experienced at the model house. Related facilities have been set up, and a large-scale project model and cross-sectional model of the commercial facility reflecting the actual design have been introduced so that visitors can view the project site at a glance. In a gallery-style comfortable space, a robot coffee machine applying 5G and artificial intelligence (AI) is operated to expand customer engagement.