Magok Industrial Complex D18 Block Total 8 Lots Sequentially Supplied in Two Groups of 4 Lots Each
Public Offering Target Land D18-A (Lots 1, 2, 5, 6) Block, Area 10,086㎡... Private R&D Center Construction
[Asia Economy Reporter Yuri Kim] The Seoul Metropolitan Government and Seoul Housing and Communities Corporation (SH Corporation) announced on the 30th that they will hold a "Magok R&D Center (Knowledge Industry Center) Private Business Operator Contest" for Block D18-A (area 10,086㎡) in Magok Industrial Complex, Magok-dong, Gangseo-gu.
Since last year, the city has been promoting the Magok R&D Center development project as part of creating an R&D convergence innovation hub for small and strong enterprises, venture companies, and startups. The goal is to establish a physical environment that can nurture the next-generation knowledge industry ecosystem as a new technology industry incubator where small and strong enterprises, venture companies, and startups are concentrated.
The D18 block consists of a total of 8 parcels, divided into two groups of 4 parcels each: 10,086㎡ (parcels D18-1, 2, 5, 6) and 11,679㎡ (parcels D18-3, 4, 7, 8), which will be supplied sequentially.
Considering that the D18 block (21,765㎡) is 2 to 3 times larger than the planned scale for knowledge industry center development within the Magok district, the total 8 parcels will be split into two groups of 4 parcels each for sequential supply to encourage appropriate scale development and participation from various business operators. Integrated architectural plans between adjacent blocks will be encouraged.
Companies wishing to participate in the contest must, as of the application submission date, be registered as real estate developers under Article 4 of the "Act on the Management and Promotion of Real Estate Development Business" and must be engaged in real estate leasing or real estate supply businesses permitted under the basic management plan.
Applications can only be submitted by consortia composed of two or more corporations; single corporations cannot participate. Among the consortium members, at least one must be an end-user company.
To expand opportunities for participation by end-user companies that can create quality jobs, end-user companies may apply jointly with consortium members (registered real estate developers) through a joint agreement. Additional evaluation points will be awarded if there is significant participation by end-user companies.
To participate in this contest, a letter of intent must be submitted under the name of the representative corporation to SH Corporation (Magok Industrial Complex Management Office) by July 27. Failure to submit will result in disqualification from this contest.
Similar to the D38 block contest announced on April 24, the evaluation criteria for the D18-A block contest have been adjusted to fit the project scale. As the project cost supply under the "Act on Industrial Location and Development" reduces the financial burden on business operators, the evaluation of public interest plans for small and medium-sized, venture, and startup companies as actual users has been strengthened.
For industrial facilities, the rental portion (20% of the building's total floor area) limits the maximum area per company to 120㎡ exclusive use, providing research space for financially challenged small and strong enterprises, venture companies, and startups.
The schedule is as follows: contest announcement on July 1, project briefing session on July 20 (planned), letter of intent submission on July 27, project application submission on October 5, business operator evaluation and selection of preferred negotiation candidates on October 27 (planned), lease contract signing on November 10 (planned), and land sale contract signing from November 27 to 30 (planned).
Any schedule changes or major announcements will be posted on the SH Corporation website. Detailed information regarding eligibility, evaluation methods, and project plan preparation can be found in the announcement on the website.
Kim Seon-soon, Director of the Regional Development Headquarters of Seoul City, said, "Since this contest divides the D18 block into two projects, we hope that after completion, the knowledge industry centers will complement and coexist with each other, contributing to the development of R&D in the Magok district." She added, "We hope that interested private business operators will actively participate so that the Magok R&D Center can become a top-tier facility."
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