New Supply of 'Nowon Station Bomi The Class' Benefiting from Development Projects in Nowon Area

‘Nowon Station Bomi The Class’ officetel, benefiting from the development projects in the Nowon area with limitless future value prospects, is set to be built in the Sangye-dong area of Nowon-gu, Seoul.

Nowon Station Bomi The Class is planned to be the tallest building in Nowon with 20 floors and a total of 204 units, marking the first officetel supply of over 200 units in 17 years.

In particular, with the Bank of Korea’s Monetary Policy Committee maintaining the base interest rate at 0.50% per annum as of the 16th, sustaining an ultra-low interest rate environment, and with the government’s intensified real estate regulations, a favorable wind is blowing in the officetel sales market, raising expectations for the early sell-out of Nowon Station Bomi The Class.

Especially, Nowon-gu, the project site, is highlighted for its rarity as large-scale land in Seoul is now limited to only Changdong Vehicle Depot and Dobong Driver’s License Test Center. Nowon-gu is undergoing redevelopment and renovation of aging commercial districts from the Changdong Station area to the Nowon Station area, aiming to become the core of the northeastern commercial district and a business hub in the northeast region.

Accordingly, a 49-story startup and cultural industry complex linked with the GTX-C line (Greater Seoul Metropolitan Area Express Train) is being established, and the development of the Changdong private station building is underway, expected to debut a 12,894㎡ transfer station harmonizing parks and plazas.

Moreover, alongside the development of the vehicle depot (scheduled for 2024) and the driver’s license test center (scheduled for 2021), the Changdong Station complex transfer center and the relocation of the Changdong subway vehicle depot are being promoted, raising expectations for the positive outcome of Seoul’s long-cherished project to attract Seoul National University Hospital.

Additionally, Nowon-gu is being reborn as a self-sufficient complex city through the expansion and specialization of business, retail, and cultural life service facilities. As a direct beneficiary of the ‘Changdong-Sangye New Economic Center Creation Project,’ various phased development projects such as ‘Seoul Arena,’ ‘Startup Culture Complex,’ and ‘Complex Distribution Center’ are underway.

‘Seoul Arena’ and ‘Startup Culture Complex’ will be developed into a K-POP specialized performance hall and a complex cultural center with an 18,000-seat large performance hall and a 2,500-seat medium-sized performance hall, serving as a startup and cultural industry complex. The ‘Complex Distribution Center,’ combining culture and business with logistics functions, is expected to emerge as the mecca of the largest stores in the metropolitan area following the planned relocation of the Dobong Driver’s License Test Center.

Nowon Station Bomi The Class, identified as a premium property benefiting from these development advantages, is a double transfer officetel located at Nowon Station, where subway lines 4 and 7 intersect. It is just a one-minute walk from the subway, facilitating easy access throughout Seoul, and is close to Dongbu Expressway and Seoul Ring Expressway, providing excellent transportation conditions for easy entry and exit to adjacent areas.

Equipped with a high-rise view overlooking the entire Nowon area, Nowon Station Bomi The Class consists of small-sized units preferred by single-person households and applies a specialized ‘Nudarak’ design that maximizes usable space, enhancing residential satisfaction.

Located near the prestigious Nowon academic district and its academy infrastructure, Nowon Station Bomi The Class is close to many elementary, middle, and high schools within the area, enabling stable commuting for children. The complex is surrounded by diverse lifestyle convenience facilities, allowing residents to enjoy a comfortable life.

Residents can enjoy proximity to shopping facilities such as Lotte Department Store, Changdong Hanaro Mart, 2001 Outlet, and Save Zone, as well as administrative facilities including Nowon-gu Office, Nowon-gu Health Center, and the National Health Insurance Corporation, along with medical facilities like Sangye Paik Hospital and Eulji Hospital.

A representative from a Nowon-gu real estate agency stated, “New officetels in the Nowon area, where solid rental demand is secured, can minimize concerns about vacancies,” adding, “Although the area around Nowon Station has many office workers, the residential facilities are aging and supply has been limited, so this sale is expected to confirm the value of the new officetel.”