Developer Nobel and Ant Present New Paradigm with Shopping Mall Brand 'Elport'

- Nobel and Ant introduce the complex shopping mall brand Elport, presenting a new paradigm through stable demand creation in the rental mall business
- Differentiated commercial area formation and MD composition tailored to trend demand possible amid failures of rental malls and sale-type shopping centers

Exterior view of Elport Mall, a complex shopping mall brand successfully established by Nobel Co., Ltd. and Ant in the Gwanggyo Central Business District (CBD) of Suwon [Photo by Elport].

Pre-sale commercial complexes secure construction funds by allocating a certain scale of stores on each floor to investors. The problem with pre-sale commercial complexes is that after selling stores of a certain size to investors, each operates their store independently, failing to create a differentiated commercial district. Ultimately, if a stable commercial district is not formed, it causes negative effects on the surrounding area.

As the problems of pre-sale commercial complexes have gradually emerged, a new trend has appeared in the market: the rental-type mall business. Developers directly own and operate the commercial complex, generating stable profits.

Recently, a new paradigm has emerged that recognizes large commercial complexes not as pre-sale products but as operating assets. Rental-type shopping malls, which achieve high customer attraction effects and enhance brand image through scientific commercial district analysis-based MD composition and active marketing activities, exemplify this trend. Elport Mall, a representative complex shopping mall in Gwanggyo, is writing this new trend.

Located in the Suwon Gwanggyo Central Business District (CBD), Elport Mall is a complex shopping mall operated 100% by lease without individual pre-sales through strategic MD. The officetels have already achieved 100% pre-sale, and key tenants in the mall include Starbucks and Kyobo Bookstore. Medical town and beauty stores are also located there, attracting great interest from local residents.

Elport Mall is recognized as a successful complex shopping mall with a single-digit vacancy rate even within the Gwanggyo area. Hiring MD experts to compose a complex themed commercial district tailored to local customers' preferences and demands was effective.

Elport Mall consists of a 20-story officetel building above ground and a commercial building from basement level 1 to the 3rd floor above ground. It is a complex shopping mall brand introduced to the market by developer Nobel Co., Ltd. and Gaemi, who transformed from a learning materials company to a real estate developer. Currently, Nobel and Gaemi are on the trial stage as developers through the brand "Elport," gaining recognition for their capabilities, securing new growth engines through real estate development, and focusing on related businesses.

A real estate official said, “Cases of conversion to fully rental-type shopping malls are occurring mainly in Seoul and the metropolitan area,” adding, “Rental-type shopping malls, which carefully select stores to meet consumer standards and directly lease them, are gaining great attention as a new paradigm shift with higher competitiveness compared to general commercial complexes.”

Elport states that the new paradigm, aligned with the real estate market trend that pre-sale commercial complexes are difficult to succeed, is for developers to directly create the optimal commercial environment and expect stable demand generation considering the perspective of tenant businesses.

An Elport representative said, “Because rental-type shopping malls strictly and directly select the stores and business types that enter, unlike pre-sale types where investors buy individual stores and then lease them out, they can avoid business type duplication and configure stores according to recent trends.”

Meanwhile, Gwanggyo Elport Mall is a complex shopping mall equipped with various convenience facilities along with popular restaurants that appeal to all ages. The basement level 1 houses a large bookstore and food court, the 1st floor features cafes and lifestyle shops, the 2nd floor contains a medical center, and the 3rd floor hosts numerous upscale restaurants and beauty stores.