‘Magok I-Park The Urban’ Enjoying the Halo Effect of Large Corporations in Magok District

- LG, Kolon, Lotte, Nexen Lead Large Corporations with Strong Back-Demand in Magok District
- Differentiated Transportation, Natural Environment, and Design Expected to Attract Consumer Interest

The first knowledge industry center sale is scheduled in the Magok district, where large corporations are settling, attracting significant attention from buyers. HDC Hyundai Development Company's 'Magok I-Park Dearban' is the main focus.

In the industry, news of large corporations moving in or planning to move in greatly impacts not only the housing market but also the office and commercial real estate markets. Office lease demand can be secured from subsidiaries and partner companies of large corporations, and commercial spaces benefit from the resident workforce as a demand base, leading to revitalized commercial districts and expected profitability.

In fact, the Magok district, a massive business town, is expected to host many companies including large corporations. According to the Magok Industrial Complex sales status, as of May, 199 companies are scheduled to be located there by 2027, including large corporations' R&D centers such as LG, Kolon, Lotte, and Nexen, which have already completed their move-in.

Additionally, 'Magok I-Park Dearban' draws attention with its differentiated transportation environment. It is located in a station area within walking distance of Yangcheon Hyanggyo Station on Subway Line 9, Balsan Station on Line 5, and Magoknaru Station on the Airport Railroad, and is close to Olympic-daero, making access to Seoul and the metropolitan downtown areas convenient. Via Gonghang-daero, accessibility to Gimpo Airport and Incheon International Airport is excellent, facilitating easy domestic and international travel.

Benefits from the nearby MICE complex 'COEX Magok-Le West' are also anticipated. It will be a massive complex facility about twice the size of COEX in Samseong-dong, with a total floor area of 820,000㎡, designed to serve various functions such as exhibitions, conventions, tourism, shopping, and culture. As development improves the work environment and raises the area's value, the future value of the knowledge industry center is also expected to increase.

'Magok I-Park Dearban' also offers a pleasant natural environment that can reduce work stress. It is close to the Seoul Botanic Park, which is about 504,000㎡?roughly twice the size of Yeouido Park?and a wetland ecological park to the north, where employees of tenant companies can enjoy relaxation. Additionally, cultural parks and community parks are nearby.

Facilities to ensure tenants' health include fitness centers, a makerspace for promotional exhibition rooms, prototype production, and product utilization studios for tenant companies, sunken plazas, edu stairs, shared meeting rooms, and multipurpose halls, all designed to enhance work efficiency and provide essential spaces for tenant companies.

Meanwhile, the sale price of 'Magok I-Park Dearban' is expected to be set at a level affordable compared to market prices, making financing relatively easier. Tenant companies can receive up to a 35% reduction in acquisition tax and property tax until December 31, 2025. Additionally, loans up to 80% of the sale price are available, and if conditions are met, low-interest loans (at the base interest rate level) can be obtained from the Small and Medium Business Corporation and various city and provincial foundations (in some regions).

'Magok I-Park Dearban' will be constructed in Magok-dong, Gangseo-gu, Seoul, with one building from five basement floors to 11 above-ground floors, a total floor area of approximately 72,000㎡, and 206 units. Of these, 118 units will be sold, excluding 88 units for lease. It is expected to have excellent product competitiveness in an optimal location, consistent with the I-Park brand image.

'Magok I-Park Dearban' is currently operating a promotional center.