[‘Hyundai Cluster Galmae Station Skansen Alto,’ a complex knowledge industry center supplied to Guri Galmae District]
As historically low interest rates persist, making it difficult to earn satisfactory returns from bank savings and time deposits alone, income-generating real estate, particularly knowledge industry centers, are emerging as alternative investment options. Since July last year, the Bank of Korea has implemented four cuts to the base interest rate, currently setting it at 0.5%.
In March, the U.S. Federal Reserve lowered its base rate to 0.00?0.25%, maintaining a zero interest rate policy, leading to forecasts that Korea will also face a prolonged period without interest rate recovery. In fact, bank product interest rates continue to decline. According to data released by the Bank of Korea on the 28th of last month, the interest rate on new savings deposits at deposit banks in July was 0.82% per annum, down 0.07% from the previous month, marking a record low. When factoring in general income tax on interest, the actual yield becomes even lower.
In contrast, income-generating real estate, including knowledge industry centers, is showing strong performance. According to the Korea Real Estate Board, the annual investment return on offices last year was 7.67%, up 0.06% from the previous year, and this year continues to show stable figures. Transactions have also increased significantly, with commercial and office real estate transactions in June reaching 29,077 cases, a 32.66% increase from the previous month.
Knowledge industry centers, in particular, are attracting attention due to their freedom from loan regulations and unprecedented popularity. Loans of up to 80% of the total sale price are available, and companies moving into knowledge industry centers by 2022 receive various tax benefits, including a 50% reduction in acquisition tax and a 37.5% reduction in property tax.
With these advantages, the popularity of knowledge industry centers is growing in the market, especially those located in large business districts in central Seoul or nearby areas. Knowledge industry centers near business districts offer convenient transportation, excellent business environments, and abundant corporate demand, allowing for potential capital gains.
Recently, the ‘Hyundai Cluster Galmae Station Skansen Alto,’ which has begun full-scale sales in the Galmae district of Guri, Gyeonggi Province, has become a focal point. This knowledge industry center, located in the self-sufficient distribution land A and B groups of the Galmae district, is planned as a building with three basement floors and ten above-ground floors, including officetels and neighborhood living facilities. Hyundai Construction is responsible for the construction.
Guri City, bordering Seoul’s Nowon-gu, Jungnang-gu, and Gwangjin-gu, has well-established transportation conditions, allowing rapid access to downtown Seoul. In particular, the ‘Hyundai Cluster Galmae Station Skansen Alto’ is within walking distance of Galmae Station and Byeollae Station on the Gyeongchun Line, reducing commuting burdens for workers who frequently use public transportation.
Using Galmae Station, it takes one stop to reach Seoul (Sinnae Station), and Sangbong Station on Line 7 is three stops away, providing excellent access to major locations such as Konkuk University Station, Gangnam-gu Office Station, and Express Bus Terminal Station. Byeollae Station is planned to have the GTX-B line and an extension of Line 8, with expectations rising especially after the Ministry of Land, Infrastructure and Transport recently announced it will announce the basic plan in April next year.
Regarding road networks, the Sejong-Pocheon Expressway, Seoul Ring Expressway, and Northern Arterial Road are located around the complex, and rapid access to the Gangnam area is possible via Gangdong Bridge, Guri-Amsa Bridge, and the planned Godeok Bridge (2022).
Additionally, according to the recently announced ‘8·4 Supply Plan,’ a residential complex of about 10,000 households is planned on the nearby Taereung Golf Course site, which is expected to bring development benefits. This Taereung Golf Course development project is the largest single-scale project in the plan.
Inside, in addition to office spaces designed with section offices, abundant community facilities such as co-working lounges, canteen bars, open conference rooms, board rooms, phone booths, and OA zones are planned, promising high satisfaction for tenant companies.
The commercial facilities to be developed alongside include various key tenants such as the multiplex cinema ‘CGV,’ and the officetel ‘Hillstate Galmae Station Skansen,’ which can be used as dormitories, will be supplied in various types including the first 2Room 3Bay in the Guri Galmae district.
Meanwhile, ‘Hyundai Cluster Galmae Station Skansen Alto’ is conducting various events, including offering discount purchase benefits on popular Samsung Electronics products to contract holders and tenants. The model house is located at 259-10 Gyomun-dong, Guri-si, Gyeonggi-do (Gyomun Intersection).
In particular, to prevent the spread of COVID-19, all staff at the model house wear masks, and a reservation system is in place to prevent crowding of visitors. Regular disinfection is also conducted. Additionally, thermal cameras and contactless thermometers are used to thoroughly screen visitors with fevers, actively ensuring safe operation of the model house.
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