The commercial facility 'The EL' at Geomdan Sageori Station Duclass is successfully conducting sales and leasing ahead of its completion scheduled for the end of this year. As the completion date approaches, quick leasing and opening after contracts are possible, attracting the attention of demanders.
The EL is located within a 5-minute walk from Geomdan Sageori Station on Incheon Line 2, benefiting from a station-area location with abundant foot traffic for commuting and other activities. It is expected to create a synergy effect with the already active station-area commercial district. Within a 200-meter radius, there are cinemas, large marts, medical institutions, and commercial facilities, promising the development of a large-scale commercial district representing the area in the future. Additionally, it is situated at a corner of a major road intersection, offering excellent accessibility and visibility.
Incheon Line 2 is currently pursuing direct connection projects with the Airport Railroad and Seoul Line 9, which will significantly improve access to Seoul upon completion. Furthermore, extension projects for Incheon Lines 1 and 2 are planned, which will likely increase subway ridership. Moreover, it secures fixed demand from 'Geomdan Sageori Station Duclass,' the largest officetel complex in the Geomdan Sageori area. All units of the Geomdan Sageori Station Duclass officetel have been sold out.
As more investors are turning their attention to commercial real estate recently, the popularity of 'The EL,' which boasts a station-area location and abundant hinterland demand, is expected to grow even stronger. According to the Korea Real Estate Board's building transaction status by building use, in May, the proportion of commercial building transactions (29,264 cases) to total building transactions nationwide (134,348 cases) was 21.78%, an increase of 6.25 percentage points (p) compared to the same period last year (15.53%).
An industry insider said, "As the housing market downturn prolongs, income-generating products that can steadily and stably yield profits are regaining popularity. Commercial facilities located in station areas with established commercial districts and high foot traffic are resilient to recessions, maintaining steady investor interest."
'The EL' also offers various financial benefits. It reduces the financial burden on investors and tenants by providing a 5% interest-free loan on the down payment.
A sales representative stated, "With a station-area location, abundant foot traffic, and fixed demand from a large officetel complex, a commercial district active seven days a week will be established. As the completion is imminent, inquiries have been steadily increasing because buyers or tenants can acquire or lease new commercial spaces without waiting for new construction."
'The EL' consists of 61 commercial units located on the lower floors of the Geomdan Sageori Station Duclass, which has a total of 541 units from the 1st to the 11th floor, and is scheduled for completion by the end of this year.
Meanwhile, 'The EL' is currently operating a model house.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
