- Popular for easily absorbing large-scale demand flocking to parks... continuous sell-out streak in the sales market
- ‘Hills Avenue Suwon Terrace’ draws attention with a large park and the National Agricultural Museum (scheduled to open in 2022) planned
Commercial facilities developed next to large parks continue to maintain steady popularity. As the ability to naturally absorb the large crowds flocking to the parks is highlighted, these facilities are gaining attention as stable investment destinations. In particular, the demand for natural environments has increased further due to the COVID-19 issue, making the popularity of commercial spaces next to large parks even greater.
In fact, in the commercial leasing market, commercial facilities developed next to parks have been selling out continuously. For example, earlier this year, 'Sejong Riches Hill' in the 6-3 Living Zone of Sejong City attracted attention because it is located right next to a large-scale park, the Cultural Park (planned), which is about 58,000㎡ in size, and all 192 units were sold out in a short period.
Also, the 'Inno City Ashiang' commercial complex in Gwangju-Jeonnam Innovation City drew attention due to its location near Yujeon Reservoir, Yujeonje Park, and Central Lake Park, resulting in a rapid contract completion for all units with an average competition rate of 8.4 to 1. Additionally, the 'Arc Bay Street' commercial complex in Songdo International City, which was also launched in the same month, succeeded in selling out by securing visitor demand thanks to its location directly in front of the waterfront lake and waterside park.
An industry insider said, "Commercial spaces adjacent to large parks are preferred locations among tenants due to the effective inflow of demand based on abundant foot traffic and the resulting sales generation effect." They added, "As the value of parks has increased due to COVID-19, the floating population visiting large parks continues to grow, and once COVID-19 ends, various festival-related boosts are expected to become active again, so the preference for these locations is expected to continue rising."
Meanwhile, in Suwon City, Gyeonggi Province, a commercial complex surrounded by large parks has attracted attention with its sales announcement. The 'Hills Avenue Suwon Terrace' commercial complex within the complex, introduced by Hyundai Engineering in Suwon City, is the subject.
The commercial complex within Hills Avenue Suwon Terrace is part of the Hillstate Suwon Terrace development in the Suwon area, located at the main entrance of the complex, and consists of a street-type commercial area with a total of 22 stores.
The commercial complex is expected to naturally attract large numbers of visitors as it is surrounded by large parks and lakes such as Seoho Park and Yeogisan Park.
Additionally, adjacent to the commercial complex is the National Agricultural Museum, a theme park with a site area of about 50,000㎡, scheduled to open in 2022, which is expected to further enrich the demand base.
The National Agricultural Museum will be constructed with four main buildings: the main building, glass greenhouse, annex, and auxiliary building. The main building will include exhibition and experience spaces such as the Agriculture Hall, Planning Exhibition Room, and Children's Experience Center. The glass greenhouse will house a smart farm, insect exhibition hall, and tropical and rare plant exhibition hall. The annex will provide educational and seminar spaces such as a Food Culture Hall and cooking classes. Scheduled to open in 2022, the National Agricultural Museum is expected to become another representative attraction in Suwon, with an anticipated annual visitor count of 1.69 million.
A sales official stated, "In addition, the commercial complex within Hills Avenue Suwon Terrace is expected to absorb demand from 257 resident households as well as abundant residential demand within the Seoho district, and it is already receiving a lot of interest and inquiries." They added, "The commercial complex will apply designs that enhance accessibility and visibility to maximize the inflow of such abundant demand, so we ask for continued interest in the upcoming schedule."
In fact, the commercial complex within Hills Avenue Suwon Terrace is composed as a street-type commercial area along a main road, and all units feature a front-open design to improve accessibility and visibility.
Meanwhile, the model house for 'Hills Avenue Suwon Terrace' is located in the Suwon City area.
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