Lotte Construction will begin sales of 'Lotte Castle De Mer,' a 1,221-unit residential lodging facility located in D-3 Block within the Busan Port redevelopment project site in Choryang-dong, Dong-gu, Busan, this coming March.
Residential lodging facilities can be applied for nationwide by anyone aged 19 or older without a subscription savings account, regardless of income or home ownership. Individual registration is possible, and since it is classified as lodging rather than housing, resale is unrestricted and loan regulations do not apply.
Situated at the core location of the North Port redevelopment project, this complex consists of two buildings ranging from 5 basement floors to 59 above-ground floors, with exclusive areas from 45 to 335㎡, totaling 1,221 units. Except for some penthouses, the entire supply will be composed of small to medium-sized units, which are highly preferred.
Busan Port, the first port redevelopment case in Korea, is gaining more attention as the second phase of the North Port redevelopment project gains momentum following the first phase. Starting in 2022, the second phase of the North Port redevelopment project, with the 'Busan City Consortium' participating as the developer, will harmoniously develop the port, railway, and the original downtown area in a complex and interconnected manner, transforming it into an international exchange zone centered on new marine industries.
The complex is adjacent to Busan Station and Choryang Station on Busan Subway Line 1. With the full-scale construction of the 'C-Bay Park Line (C-Bay~Park, tram),' which connects the North Port redevelopment area and downtown, transportation conditions are expected to improve further. The first phase 1-1 section of the C-Bay Park Line is a 1.9 km long, catenary-free low-floor tram running on the ground, scheduled to stop at five locations in the first phase of the North Port redevelopment area. A station will be located right in front of the complex where 'Lotte Castle De Mer' is situated.
'Lotte Castle De Mer' will be built as a super high-rise landmark with a maximum height of 213 meters, creating a new skyline for the Busan Port area.
The complex offers a wide range of views by type, expanding choices for buyers. Some types secure permanent sea views overlooking Busan Harbor Bridge and the North Port, while others provide panoramic views of mountains and the city.
A sales official stated, "With occupancy scheduled for 2025 and a long construction period, there is high expectation for future market value appreciation, and the advantage of unrestricted resale immediately after contract attracts strong interest from investors."
The model house for 'Lotte Castle De Mer' is located at 1522 U-dong, Haeundae-gu, Busan, and is scheduled to open in March.
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