As major developments continue to emerge in Geomdan New Town, Incheon, attention is focused on the construction of a luxury officetel in a prime local location.
Currently, Geomdan New Town is set to see active station area development following the selection of the Lotte Construction consortium as the preferred bidder in the ‘Geomdan New Town 101 Station Area Development Project Private Sector Operator Competition.’ The 101 Station Area Development Project aims to create a new concept mixed-use cultural space in the Next Complex, a specialized zone in Geomdan Phase 1, which will include cultural, commercial, office, and residential facilities. The mixed-use cultural space plans to house a multiplex cinema, a large bookstore, a kids’ theme park, and a sports theme park.
The transportation environment will also improve. In August last year, the ‘Incheon Gyeyang?Ganghwa Expressway Project’ passed the preliminary feasibility study, promising an expansion of the road traffic network. The ‘Incheon Subway Line 1 Geomdan Extension Project’ has also received approval from the Ministry of Land, Infrastructure and Transport and is scheduled to begin construction in the second half of this year, aiming for completion in 2024. Additionally, with the ongoing Incheon Subway Line 2 extension project and the inclusion of the GTX-D line in the national railway network, accessibility within Incheon as well as to Seoul and the metropolitan area is expected to become much more convenient.
A real estate official stated, “Large-scale development projects such as subway extensions, expressway expansions, and station area developments are continuously taking place in Geomdan New Town,” adding, “As a result, the Geomdan New Town real estate market, which had temporarily slowed down, is entering an upward trend again, drawing attention to the officetels currently being sold in the area.”
In this gateway location of Geomdan New Town, Hangang Group Co., Ltd. is developing the luxury officetel ‘Geomdan Sageori Station Duclass,’ attracting interest. The complex is located within a 5-minute walk of Geomdan Sageori Station on Incheon Subway Line 2, providing easy access to major urban centers in Seoul and key industrial complexes in Incheon. Additionally, a bus stop and the Outer Ring Road are just 2 minutes away, facilitating convenient access to Hangang New Town and Seoul. With the future extension of Incheon Subway Lines 1 and 2 and the direct connection of the Airport Railroad and Line 9, accessibility to Seoul is expected to improve further.
The demand base is abundant, and the property is free from regulations. It caters to approximately 33,000 workers in the Geomdan Industrial Complex and other areas, and as an unregulated officetel product, it is not affected by home ownership or subscription savings accounts and is free from loan restrictions.
The brand is also excellent. ‘Duclass’ is a premium residential brand of Hangang Group Co., Ltd., recognized for its product value in high-potential metropolitan areas such as Yangju Okjeong, Samsong Jichuk, Uijeongbu Gosan, and Gimpo Hangang, embodying the company’s philosophy and pride.
The name combines the German words ‘Duke,’ meaning ‘noble’ or ‘high-class,’ and ‘Klass,’ meaning ‘stylish’ or ‘elegant,’ conveying the idea of a luxurious and sophisticated living space.
In particular, Hangang Group plans to promote the ‘Duclass’ brand using luxurious and distinctive patterns that match the brand image. These patterns, reminiscent of European luxury mansions, will be applied not only to brand promotional materials but also to future interior designs.
Furthermore, the complex’s facilities will incorporate the latest trends. Community amenities such as a fitness center and rooftop lounge will be provided for residents. Nearby, various living infrastructures including theaters, large supermarkets, and hospitals are well established.
A representative of Hangang Group stated, “We launched this new residential brand to create a space where a refined lifestyle can be realized by introducing European residential trends,” adding, “As a premium officetel featuring the ‘Duclass’ brand and the first European-style officetel in Geomdan where Geomdan meets Europe, we expect continued interest from many investors.”
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