As the development of Susaek-Jungsan New Town accelerates, the nearby Lotte Shopping Mall development project is set to kick off after seven years.
The Susaek-Jungsan New Town, spanning approximately 793,028㎡ in the Susaek-dong and Jungsan-dong areas of Eunpyeong-gu, Seoul, is being developed in a total of 11 zones. Once completed, about 11,000 new apartment units will be built, transforming the area into a "mini new town within the city."
The development pace is also fast. Following the move-in start of ‘DMC Lotte Castle The First’ supplied in Susaek Zone 4 since June, ‘DMC SK View’ in Susaek Zone 9 is scheduled for completion by October next year. Additionally, supply will continue in the second half of this year in Jungsan Zone 2, Susaek Zones 6, 7, and 13, completing more than half of the overall development plan.
As the ‘Susaek-Jungsan New Town’ project, considered the last new town in the western part of Seoul, gains momentum, the nearby Sangam DMC complex Lotte Shopping Mall development project is also picking up speed.
According to industry sources, Lotte Shopping completed the selection of a design and permit service company in April and submitted re-approval to Mapo-gu, Seoul, in June. This was about two months ahead of the originally planned schedule, aiming to complete the building by 2022 and open the Sangam Lotte Mall in early 2023.
Lotte Shopping purchased three plots (20,644㎡) within the Sangam Residential Development District in 2013 to develop a complex mall featuring Lotte Department Store, Lotte Mall, Lotte Mart, and Lotte Cinema. Once developed, this site is expected to become a representative complex shopping facility for the northwestern commercial areas including Mapo-gu, Eunpyeong-gu, and Seodaemun-gu.
A nearby real estate agency stated, “Although the site is currently vacant land, its location is a key area representing the western part of Seoul, making its value outstanding,” adding, “As the Susaek-Jungsan New Town, developed on a mini new town scale nearby, progresses rapidly, the Lotte complex shopping mall is also expected to speed up its development.”
With Lotte Shopping setting the opening target for the Sangam DMC Lotte Shopping Mall in 2023, attention is focused on this month’s new pre-sale, which offers benefits immediately after occupancy.
The consortium of SK Construction and HDC Hyundai Development Company announced that the cyber model house for ‘DMC SK View I-Park Foret,’ redeveloping Susaek Zone 13 Redevelopment Promotion Area, will open on the 14th.
This complex is conveniently located near Emart Susaek Branch, Homeplus World Cup Branch, and various commercial facilities in Sangam DMC. Once the development of the Susaek Station area and the Sangam DMC Lotte Shopping Mall project is completed, residential convenience is expected to improve further.
The residential environment is also excellent. Located at the foot of Bongsan Urban Natural Park, residents can enjoy the four seasons of nature nearby. Susaek Elementary School is adjacent, allowing safe walking routes for students. The complex is situated in a transit-oriented location with access to Gyeongui-Jungang Line Susaek Station and Digital Media City Station on Line 6, Airport Railroad, and Gyeongui-Jungang Line, enabling quick travel throughout Seoul.
‘DMC SK View I-Park Foret’ will be built with 21 buildings from 5 basement floors to 19 above-ground floors, with a total of 1,464 households ranging from 39 to 120㎡ in exclusive area, of which 183 units will be available for general sale. The general sale units by exclusive area are △39㎡ 69 units, △49㎡ 51 units, △53㎡ 16 units, △59A㎡ 3 units, △59B㎡ 4 units, △76㎡ 9 units, △84A㎡ 18 units, △84B㎡ 4 units, △102㎡ 4 units, and △120㎡ 5 units.
Meanwhile, the SK Construction and HDC Hyundai Development Company consortium is operating the cyber model house for ‘DMC SK View I-Park Foret’ on its website to prevent and contain COVID-19. Introduction videos of the complex and unit tours can also be viewed on SK Construction’s official YouTube channel.
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