- Recognized as the Biggest Beneficiary of the 2040 Seoul Urban Master Plan and Exemption from Detailed Safety Inspections
- High-End Residential Product 'Mapo Newmad Officetel' Now Available in the Prime Location of Mapo-dong, Mapo-gu
As the Presidential Transition Committee (hereinafter referred to as the Transition Committee) begins its work in earnest, public interest is rising regarding the impact on real estate in the Seoul area, with properties in the Mapo, Dongjak, and Seongdong districts expected to benefit.
Recently, the Transition Committee finalized a plan to relocate the presidential office to the Ministry of National Defense building in Yongsan-gu, Seoul. This is expected to inevitably affect height restrictions and development limitations in the Yongsan-gu area where the Ministry of National Defense building is located, likely putting a brake on redevelopment as well as reconstruction projects. Consequently, investment demand that had been concentrated in Yongsan-gu due to various development news is anticipated to shift to adjacent areas such as Mapo-gu, Dongjak-gu, and Seongdong-gu.
Moreover, these areas border the Han River, so they are expected to benefit from the 2040 Seoul Urban Master Plan announced by the Seoul Metropolitan Government in March. According to the 2040 Seoul Urban Master Plan, the so-called '35-floor rule,' which prohibited building apartments higher than 35 floors in residential areas of Seoul, has been abolished. Although the floor area ratio remains unchanged, the possibility of creating diverse skylines is expected to enhance project feasibility, accelerating reconstruction complexes and redevelopment projects located along the Han River.
In particular, the promise to exempt detailed safety inspections, which had been a stumbling block for reconstruction projects in real estate pledges, is expected to rapidly change the real estate landscape in these areas where many apartment complexes over 30 years old are located.
A real estate official stated, “Yongsan area had been the region with the most development prospects in Seoul, so it seems difficult to avoid some impact following the confirmation of the presidential office relocation,” adding, “As a result, investors’ interest is focusing on adjacent areas including Mapo-gu and Dongjak-gu. These areas, embracing the Han River, are expected to receive the greatest benefits from the policies of the Seoul Metropolitan Government and the president-elect, and housing purchases by related personnel due to the Blue House relocation are anticipated.”
In particular, Mapo area is highly regarded within Seoul due to its location facing Yeouido across the Mapo Bridge, but most of its housing is aging and there is a shortage of new housing supply. However, since a significant portion of real estate demand from the Yongsan area is expected to move toward Mapo, investors are showing continued interest in the Mapo New Mad Officetel currently on sale.
The Mapo New Mad Officetel, developed by Hana Asset Trust Co., Ltd. and constructed by Beomyang Construction Co., Ltd., is a high-end residential product. The Mapo-dong area where this complex is located is expected to benefit from the relocation of the presidential office due to its excellent accessibility to Yongsan and its immediate proximity to the Han River.
In fact, the Gangbyeonbuk-ro is located near the Mapo New Mad Officetel, making travel convenient throughout Seoul, including Yongsan. Also, using Line 5 from Mapo Station allows quick access to Seoul’s three major business districts: Yeouido and Gwanghwamun. Transferring to Line 9 at Yeouido Station provides good accessibility to Gangnam as well.
Furthermore, the Mapo New Mad Officetel is situated within the Mapo-Gongdeok business district, offering a level of proximity between residence and workplace. The commercial area around Mapo Station is nearby, and the popular shopping districts of Hongdae and Sinchon are also easily accessible. Sharing a living zone with Yeouido, home to Seoul’s largest department store The Hyundai Seoul and the IFC Mall, is another advantage.
Additionally, the Mapo New Mad Officetel enjoys the Han River premium, a symbol of wealth, with many units offering views of the Han River and boasting excellent product quality. The complex includes high-end residential amenities such as an indoor swimming pool, a wine library, and a sunken garden. It also features a work lounge, a creative studio, and hobby rooms, enabling residents to enjoy a high-quality living experience within the complex.
Moreover, it offers concierge services comparable to those of luxury hotels, allowing residents to focus more on their lives. The complex has signed a consignment operation contract with Socio Living Co., Ltd., a company specializing in high-end residential facility services, to provide regular room cleaning, limousine, and catering services.
In addition, concierge services covering all aspects of residence such as breakfast provision, moving/rental, and grocery shopping will be offered. A dedicated secretary service supporting residents’ life care, business assistance, and travel/cultural reservations will also be introduced.
The differentiated unit design stands out as well. All unit types in the Mapo New Mad Officetel are duplexes, maximizing space utilization, and some units offer private terraces for a more special daily life. Based on the concept of people who pursue newness and freedom without boundaries between work and residence (NEW+NOMAD), all unit types are designed as conceptual houses themed around tents, yachts, and caravans, featuring an innovative product composition that balances creative thinking with work and daily life.
The Mapo New Mad is currently operating a model house and is selling officetel units and neighborhood living facilities within the complex.
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