If You're Considering Investing in Commercial Facilities, Aim for 'Seo·Jeong·Gyo' - Spotlight on 'Gangdong Station SK Leaders View' Commercial Facilities

- Seoul, Garden, and Excellent Transportation Highlighted as Prime Investment Locations
- 'Gangdong Station SK Leaders View' Launches Sales, Attracting Attention

The keyword 'Seojeonggyo' is gaining attention as a commercial facility investment term. It represents the first letters of Seoul, Garden, and Transportation. Although the overall real estate market is currently in a slump, commercial facilities that possess all these keywords are considered relatively safe assets and are highly evaluated for their potential to rebound sharply during a boom.

IN-Seoul is the Trend for Commercial Facilities

Seoul is the center of consumption where economic power is concentrated. With about 20% of the population gathered there, commercial facilities naturally thrive. Even a tucked-away space can become a 'hot place' through word of mouth. Various consumer groups are present, allowing for efficient MD (merchandise) composition.

A real estate expert said, “Polarization is expected in commercial facility investments as well, and 'IN Seoul' will be regarded as a safe asset, leading investment enthusiasm. Continuous development makes investment value inevitably higher than in other regions such as provinces.”

Various commercial facility indicators are also favorable. According to the Korea Real Estate Board, the vacancy rate for small-scale commercial facilities in Seoul in the fourth quarter was 6.2%, lower than the national average of 6.9%. Prices have risen so much that properties can be sold at a premium. According to Real Estate R114, the average transaction price of commercial and office real estate in Seoul in the first half of last year recorded about 38.67 million KRW per 3.3㎡, the highest ever on a half-year basis.

Gardens Are an Unmissable Trend

Recently, gardens have also emerged as a key trend. It has become popular to stroll through green spaces inside and near shopping areas to relax. The Korea Real Estate Board’s report on 'Factors of Commercial Vacancy and Policy Measures' revealed that commercial districts with open spaces (parks, plazas) tend to have lower vacancy rates, highlighting the importance of combining commercial facilities with green spaces.

This trend is reflected throughout commercial facilities. For example, the 'Cheongnyangni Station Hanyang Sujain Art Forest' in Dongdaemun-gu, Seoul, which was launched last year, promoted the large-scale park right in front of its commercial facilities as a 'selling point.' Department stores like Hyundai and Lotte have also created charming gardens on certain floors, providing spaces to rest while shopping.

An industry insider said, “The term ‘Retail Therapy’ has become a buzzword, showing how closely commercial facilities and healing are connected. This trend is emerging not only in large distribution facilities like department stores but also in shopping complexes within residential areas.”

Accessibility Is a Basic Requirement... Low Vacancy Rates Around Subway Stations

A solid transportation network is a fundamental element that prime commercial facilities must have. Representative examples are commercial facilities near subway stations. Shops are visible just a short walk from the station, and the flow between subway exits and stores is natural, making customer acquisition easier. Especially, the limited availability of shops in station areas increases their rarity value.

In fact, vacancy rates for commercial facilities near subway stations are remarkably low. According to the Korea Real Estate Board, the vacancy rates in the fourth quarter near stations such as Gyodae Station (1.3%), Nonhyeon Station (0%), Sinsa Station (0.9%), Gongdeok Station (1%), Dangsan Station (1.7%), and Sangbong Station (0%) were around 1%, reflecting natural vacancy levels due to store relocations.

A construction company official said, “Station-area commercial facilities are the top investment priority because they combine floating population and hinterland demand, allowing expectations for both rental income and capital gains due to scarcity.”

[Perspective View of Gangdong Station SK Leaders View]

A commercial facility that meets all the 'Seojeonggyo' conditions is about to be launched. It is the 'Gangdong Station SK Leadersview Commercial Facility,' developed on the site of the former KT Gangdong branch in Gangdong-gu, Seoul. SK Ecoplant is in charge of construction, and the facility covers about 15,000㎡.

It is planned as an urban resting space based on the 'Greenity Garden Concept (Green + Community Garden),' featuring diverse green spaces. A themed MD composition that can satisfy various demands is also planned, attracting attention.

The location near subway stations stands out. It is situated in a double station area adjacent to Gangdong Station and Gil-dong Station on Subway Line 5. Cheonho Station on Lines 5 and 8 and the planned Gil-dong Ecological Park Station on Line 9 are also nearby.

Stable fixed demand has also been secured. A total of 378 units of the 'Gangdong Station SK Leadersview' officetels are scheduled for occupancy, enabling a one-stop life. Unlike typical studio officetels, the 378 units mainly consist of plate-type floor plans such as 84㎡ 3Bay 3-Room, 99㎡ 4Bay, and Wide 3Bay 3-Room, broadening the demand base and increasing purchasing power. There is also abundant floating population commuting to and from Gangdong Seongsim Hospital across the street.

A sales official said, “This is a major brand commercial facility combined with officetels, and inquiries are steadily coming from investors who highly value the stable future value of the station area.”