Basement 3 to 22 floors above ground, 2 buildings, exclusive area 201~244㎡. Comprising a total of 72 units
Hyundai Construction's differentiated high-end residential product newly introduced in Gwangju Metropolitan City
Hyundai Construction announced on the 6th that it will introduce a luxury residential space called ‘LAPENTHILL’ in Wolgye-dong, Gwangsan-gu, Gwangju Metropolitan City this month.
The complex consists of two buildings ranging from three basement floors to 22 above-ground floors, with a total of 72 units sized between 201 and 244㎡. Neighborhood living facilities are also established on the 1st to 3rd floors, allowing residents to enjoy a one-stop lifestyle. By exclusive area, there are △68 units of 201㎡ △2 units of 241㎡ △2 units of 244㎡, which are large-sized units rarely seen in Gwangju. In particular, the developer, Green City Development, named the complex with its own brand name ‘LAPENTHILL.’ ‘LAPENTHILL’ is a compound word of ‘La (French: THE) + Penthouse + Hill,’ representing a residential space that meets the needs and values of domestic VVIPs (ultra-high-net-worth individuals).
Low Supply of Large Apartments in Gwangju Metropolitan City and High Preference... Complete Sell-Outs in the Sales Market
In Gwangju, there is a strong preference for large apartments, but the supply volume of large apartments is low, making them highly scarce. In fact, from 2016 to 2020, only 1,388 units of apartments larger than 85㎡ were supplied in Gwangju (based on Real Estate 114), which accounts for only 2.2% of the total supply volume (62,110 units).
Due to the abundant demand for large apartments, the price increase rate has been high. The average sale price of apartments larger than 85㎡ in Gwangju rose 42% over the past five years, from 7.37 million KRW per 3.3㎡ in 2016 to 10.44 million KRW in October 2021. During the same period, apartments sized 60~85㎡ increased by 29%, and those under 60㎡ rose by 22%.
Additionally, as the demand for luxury residential facilities grows among Gwangju residents, the transaction volume of complexes larger than 165㎡ has also significantly increased. According to the Korea Real Estate Board, from January to September this year, the transaction volume of apartments larger than 165㎡ totaled 352 cases, more than tripling compared to 101 cases during the same period last year.
Newly launched complexes are also experiencing continuous sell-outs. In March this year, ‘Bongseon-ro Le Onette’ (exclusive area 168~219㎡) in Juwol-dong, Nam-gu, achieved 100% sales, followed by ‘Cheomdan Korea Adelium57 Greenity’ (exclusive area 175~177㎡), which also sold out in a short period after its October launch.
Providing Independent Residential Spaces That Become a Single Exclusive Area
The complex is designed as an elegant space from the exterior to the interior, befitting a high-end residential product. A curtain wall look is applied to the exterior to add luxury, and terraces are designed as protruding structures to create a three-dimensional and aesthetic facade.
For the convenience and independence of residents, elevators are arranged by line to allow private use. Each unit also has its own elevator hall, enabling residents to enjoy a secure and independent lifestyle within their exclusive space.
Parking spaces are generously provided at 3.1 spaces per unit. Additionally, seasonal storage rooms located on basement floors 1 to 3 allow residents to separately store items not used seasonally or bulky belongings.
The interiors are designed mainly with a 5-bay layout to provide excellent openness, securing a spacious kitchen area and maximizing storage with auxiliary kitchens, dressing rooms, and pantries. Furthermore, imported luxury furniture brand Febal Casa kitchen furniture will be installed, and imported finishing materials will be used throughout the home to enhance the quality of living.
In the post-COVID-19 era, a large terrace is provided where residents can enjoy outdoor activities and leisure without going outside. It is designed large enough to enjoy various hobbies such as gardening, barbecue parties, and home cafes. Community facilities such as a fitness center, GX room, and caf? lounge will be established within the complex, allowing residents to conveniently enjoy their leisure time.
Core Location Equipped with Abundant Infrastructure Including Transportation, Convenience, and Nature
The residential environment is also excellent. The administrative town, including the Government Gwangju Regional Joint Office, Gwangju National Tax Service, and Gwangju Regional Procurement Service, is located nearby. Shopping and cultural facilities such as Lotte Mart, CGV, and Megabox are within walking distance, enabling convenient living. Various convenience facilities like Gwangju Advanced General Hospital, Gwangju Veterans Hospital, and Gwangju Postal Distribution Center are located within a 1 km radius.
The metropolitan transportation network is well established. The new Gwangju Subway Line 2 station (scheduled to open in 2024) is close to the complex, and access to downtown and suburban Gwangju is easy via Imbangul-daero and Cheomdan Riverside Road adjacent to the complex. Entry to the Honam Expressway via Gwangsan IC is also convenient.
With Yeongsan River, Children’s Traffic Park, Cheomdan Neighborhood Park, and Ssangam Park surrounding the complex, it is easy to enjoy walks and leisure activities. Nearby educational facilities include Wolbong Elementary School, Bongsan Middle School, Sungdeok High School, Gwangju Institute of Science and Technology, and Chosun University Cheomdan Industry-Academia Campus.
Commuting is convenient to Gwangju Advanced Science National Industrial Complex, Gwangju Advanced Science National Industrial Complex 2nd District, Bonchon General Industrial Complex, Hanam General Industrial Complex, and Jingok General Industrial Complex. Additionally, a research and industrial complex centered on an AI-based science and technology startup cluster is planned within the nearby Cheomdan 3rd District, which is expected to benefit the complex as a hinterland.
A Hyundai Construction sales official stated, “We applied differentiated designs and carefully used imported luxury materials throughout the interior so that residents can enjoy a private penthouse life. Along with Hyundai Construction’s construction reliability and the rarity of having only 72 units, there has been significant interest from asset owners even before the sales began.”
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