Opportunity Opens for Companies to Enter Gam-il District in 'Songpa Living Zone' This June

▶ Gam-il District in the 'Songpa Living Zone,' directly adjacent to Songpa-gu, Seoul, scheduled for the first knowledge industry center sale in June

▶ Competitive pricing compared to Munjeong-dong, Songpa-gu, with investment potential boosted by the creation of a mini new town-scale Gam-il District

Following Wirye New Town, the ‘Gamil District’ in the Songpa living area is attracting significant attention in the real estate market. Various types of complexes, including general sales, public sales, public rental, and national rental, have been continuously supplied, and the first knowledge industry center is scheduled for sale this June, drawing interest.

■ The Greatest Strength of Gamil District: ‘Songpa Living Area’

In fact, Gamil District is directly adjacent to Songpa-gu, Seoul, and its location offers far superior accessibility to Seoul compared to Hanam Misa Riverside City. Some even refer to it as ‘Gangdong Misa’ or ‘Songpa Gamil.’

Within Gamil District, transportation connecting to the Songpa living area is already well established. Seoul Subway Line 5’s Macheon Station is not far from Gamil District, and various road networks connecting Wirye New Town and Gamil District are abundant, making road use convenient. Through the Seo-Hanam IC on the Seoul Ring Expressway, quick access to the Jungbu Expressway and Gyeongbu Expressway is possible, facilitating easy travel beyond the Songpa living area to major areas in Seoul and the metropolitan area. Additionally, with pleasant natural environments such as Cheonmasan Mountain, the location offers the advantage of enjoying both urban and rural lifestyles, ensuring comfort in both residential and work life.

A real estate official stated, “Gamil District is a metropolitan housing site where you can enjoy Jamsil nearby within the Songpa living area. Since the market moves around areas with high Seoul accessibility, entering Gamil District, which belongs to the Songpa living area, could also bring benefits such as price increases similar to those in the Munjeong District.”

■ ‘Songpa Living Area,’ The Opportunity to Enter is Now

Meanwhile, regarding the first knowledge industry center to be supplied in Gamil District, investors are saying it will be offered at a more competitive price compared to major knowledge industry centers supplied in Munjeong-dong, Songpa-gu. This is especially notable considering that the sales price of knowledge industry centers in Munjeong-dong reaches the mid to high 10 million KRW range.

In other words, from a pricing perspective, Gamil District is an attractive option compared to Munjeong District. If Gamil District’s transportation and infrastructure are further expanded to a mini-new town level in the future, it is expected to maintain even higher prices, making now the optimal time to enter Gamil District.

Although the supply of residential complexes in Gamil District is nearing completion, the knowledge industry center is scheduled to be the first to be sold in Gamil District this coming June.

■ The First Knowledge Industry Center in ‘Gamil District’: ‘Hyundai Terra Tower Gamil’

‘Hyundai Terra Tower Gamil,’ the first knowledge industry center in Gamil District within the Songpa living area, scheduled for sale this June, will be built by Hyundai Engineering on Block 4 of the Gamil District’s self-sufficient facility site. It will be a structure with four basement floors and eight above-ground floors, with a total floor area of approximately 57,000 square meters, including knowledge industry center facilities, commercial facilities, and sports facilities.

Especially as it is supplied in Gamil District within the Songpa living area, it boasts a transportation environment that allows easy access to Jamsil, Munjeong, and Wirye New Town. Near ‘Hyundai Terra Tower Gamil’ are Gamil Sunhwan-ro and Sinusil-ro, and the extension of Seoul Subway Line 3 to Gamil Station (planned) will also be established within Gamil District. It is also easy to use the metropolitan transportation network, including the Seoul Ring Expressway (Seo-Hanam IC), Jungbu Expressway (Hanam IC), Seoul-Sejong Expressway (scheduled to open in 2024), and the road connecting Gamil District to Wirye New Town.

Hyundai Engineering plans to showcase an optimized design for changing work environments as this is the first knowledge industry center in Gamil District. An open lounge will be provided in the main lobby of the knowledge industry center for meetings with visitors to tenant companies. In particular, to alleviate parking difficulties, a spacious parking area accommodating 466 vehicles?more than double the legal requirement of 212 spaces?will be introduced, enhancing work convenience.

Various facilities to support work-life balance for tenant companies will also be included within the knowledge industry center. Commercial facilities located along the main road, a sunken garden (basement level 1), rooftop garden, parks for relaxation, and sports facilities are planned.

Unlike apartments and other housing subject to strict regulations, ‘Hyundai Terra Tower Gamil’ is relatively free from loan restrictions. Tenant companies in the knowledge industry center can benefit from property tax reductions (37.5%) and acquisition tax reductions (50%), allowing them to acquire office buildings at a lower cost compared to rent and securing investment opportunities.

Meanwhile, ‘Hyundai Terra Tower Gamil’ is scheduled for full-scale sale in June, and the knowledge industry center’s promotional center is located at 114, 1st Floor, Building C, SK V1 GL Metro City, 128 Beobwon-ro, Songpa-gu, Seoul (Munjeong Station).