Amid Unrelenting Regulations, ‘Gwangmyeong G Tower’ Gains Attention as a Smart Single Property

- A Smart Single Property Is Key for Commercial and Office Real Estate... Location, Quality, and Future Value Must Be Carefully Considered
- ‘Gwangmyeong G Tower’ Knowledge Industry Center & Commercial Facilities, Attracting Growing Interest as a Prime Complex

The commercial and office real estate market continues to thrive. Due to ongoing housing regulations, there is growing interest in commercial and office real estate, which is relatively free from such restrictions. Especially with ultra-low interest rates and the prolonged economic downturn caused by COVID-19, a preference for a single, well-chosen property that minimizes risk is emerging even in the commercial and office real estate market.

As investment risks continue to increase, industry experts explain that it has become even more important to carefully select prime commercial and office real estate.

An industry insider stated, “Due to the economic downturn, investing in commercial and office real estate is becoming more important to focus on a single, well-located, high-quality property with future value rather than multiple properties. In fact, well-chosen commercial and office real estate with clear advantages continues to generate steady income, so for investors seeking new opportunities, it is crucial to carefully evaluate these factors and prioritize properties that meet all these criteria.”

Meanwhile, ‘Gwangmyeong G Tower,’ currently being sold in the Soha district of Gwangmyeong, is gaining popularity as a well-chosen single property that offers excellent location, strong demand base, quality, and future value.

Gwangmyeong G Tower is a knowledge industry center located at 1344 Soha-dong, Gwangmyeong-si, Gyeonggi-do. It will be developed with a total floor area of approximately 156,412㎡, spanning from four basement levels to 15 floors above ground. Commercial facilities named ‘G Seven Square’ will be included from the second basement to the second floor above ground.

Gwangmyeong G Tower boasts an excellent location with a solid demand base. Nearby are knowledge industry centers such as Ace Gwangmyeong Tower and SK Technopark, employees of Kia Motors’ Sohari plant, and residential facilities in the Soha district, providing an estimated demand base of about 100,000 people.

Additionally, urban development projects are planned nearby, including the Gurumsan district with about 5,100 households and the Haan 2 district with about 5,400 households. The Gwangmyeong-Siheung Techno Valley is also under development in the adjacent areas of Gahak-dong in Gwangmyeong and Nongok and Mujinae-dong in Siheung. Once completed, these projects are expected to further strengthen the demand base for the complex.

Moreover, the complex is located in the Soha district of Gwangmyeong, known as the gateway to the southwestern metropolitan area, offering convenient transportation. It is adjacent to the Gangnam Circular Expressway, Seohaean Expressway, 2nd Gyeongin Expressway, Gwangmyeong-Suwon Expressway, and KTX Gwangmyeong Station, facilitating easy access throughout the metropolitan area and nationwide. Furthermore, the completion of the Shinansan Line (scheduled for 2023) and the Wolgot-Pangyo Line (scheduled to start construction in 2021) will further improve transportation conditions.

Gwangmyeong G Tower has received positive reviews for its tenant-friendly interior design. The complex offers a variety of floor plans ranging from a minimum of 12 pyeong to a maximum of 53 pyeong, expanding options for tenants. Notably, it features many small-sized units rarely seen in Gwangmyeong. Additionally, a drive-in system will be implemented from the fourth basement to the fifth floor above ground, and outdoor rest areas for employees will be provided on most floors (except some).

Furthermore, Gwangmyeong G Tower’s commercial facility ‘G Seven Square’ has secured various anchor tenants, raising expectations as a regional landmark and enhancing its future value.

Specifically, Megabox, a multiplex cinema, has confirmed its entry on the first and second basement levels. It will be the first multiplex cinema in the Soha district of Gwangmyeong, featuring six theaters with a total of 746 seats. A health screening center linked with Chung-Ang University Medical Center has also been confirmed, occupying 5,160㎡. The complex plans to attract primary care clinics in various specialties to establish a large-scale medical commercial district representing the Soha district.

Additionally, the second basement will house the first large-scale bowling alley in the Soha district. The first basement and first floor will include kid-focused facilities such as a daycare center and children’s library, providing diverse spaces for families. Thus, the complex is set to become a mixed-use knowledge and cultural tower where work, leisure, and health screening can be enjoyed simultaneously.

A sales representative said, “Compared to knowledge industry centers in Seoul, the complex is priced quite reasonably, and inquiries from companies looking to reduce costs are steadily coming in. We will do our best to deliver a high-quality complex that meets the strong interest shown.”

In fact, the Gwangmyeong G Tower knowledge industry center is priced from the high 6 million KRW range per 3.3㎡ to the low 7 million KRW range on average. This is competitively priced compared to the average price of 9.26 million KRW per 3.3㎡ for knowledge industry centers in the Seoul area (based on Real Estate 114_2018 data).

The sales promotion center for Gwangmyeong G Tower and G Seven Square is located at 510-5 Iljik-dong, Gwangmyeong-si, Gyeonggi-do.