[Asia Economy Reporter Ryu Taemin] Investment demand, which had been concentrated on residential real estate such as apartments, officetels, and urban lifestyle housing, is shifting to non-residential real estate such as knowledge industry centers and commercial facilities.
This is due to the high subscription competition rates recorded not only in the metropolitan area including Seoul but also in small and medium-sized cities in the provinces, despite the government's successive housing market regulations. In particular, apartments supplied in non-regulated areas without restrictions on resale of pre-sale rights have recorded triple-digit subscription competition rates in the first priority, clearly showing the high barriers to home ownership and investment entry.
Meanwhile, construction companies are attracting attention by unveiling the last batch of knowledge industry centers for the first half of this year.
According to Real Today, Lotte Construction is launching ‘Nollaum Magok’ this month at 40, Yangcheon-ro 47-gil, Gangseo-gu, Seoul. The complex consists of one building with five basement floors and 12 above-ground floors, with a total floor area of about 30,000㎡, including 281 knowledge industry center units and 22 commercial facilities. Located right in front of the Magok district, synergy effects with advanced industries are expected. It is accessible via Yangcheon Hyanggyo Station on Line 9 and Magoknaru Station, a transfer station between Line 9 and the Airport Railroad. Olympic-daero and Gangbyeonbuk-ro are adjacent, making it easy to travel throughout Seoul and the metropolitan area.
Ace Construction plans to launch ‘Artis Forum’ this month at 197-11 Guro-dong, Guro-gu, Seoul, and one other lot. The complex will have three basement floors and 20 above-ground floors, with a total floor area of 63,086㎡. Namguro Station on Line 7 is within a five-minute walk, and Guro Digital Complex Station on Line 2 and Daerim Station on Lines 2 and 7 are also accessible. Recently, the opening of the Gangnam Circular Expressway has greatly improved accessibility to the Gangnam area.
Hyundai Engineering plans to sell ‘Hyundai Terra Tower Guri Galmae’ this month, located on Block 3 of the self-sufficient distribution facility site in Guri-si, Gyeonggi Province. The complex will have two basement floors and 10 above-ground floors, with a total floor area of approximately 103,805㎡, and will be developed as a complex knowledge industry center combining knowledge industry center units and commercial facilities. Both Byeollae Station and Galmae Station on the Gyeongchun Line subway are accessible, and Galmae IC and Toegyewon IC are nearby.
Taeyoung Construction plans to launch ‘DMC Flex Desiang’ this month on Block 9 of the urban support facility site in Hyangdong District, Goyang-si, Gyeonggi Province. The complex will have two basement floors and 20 above-ground floors, with a total floor area of 143,457㎡, consisting of knowledge industry centers and neighborhood living facilities. Accessibility to the entire metropolitan area is excellent via Jayuro, Second Jayuro, Gangbyeonbuk-ro, and the Inner Circular Road.
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