Recently, although concerns about a crisis due to tightening real estate project financing (PF) funds are spreading in the construction and real estate markets, the demand from a very small group of customers seeking the so-called ‘high-end of high-end’ properties is increasing.
These projects are evaluated as having the highest marketability even among high-end residences, and despite the frozen real estate market atmosphere, they are proving sufficient business feasibility and future value, successfully securing funding.
In fact, Lucia Holdings’ ‘Lucia Cheongdam 514 The Terrace’ decided to extend its bridge loan for funding in July and recently signed a full-scale construction contract with a top-tier domestic construction company, showing a successful trajectory.
A sales official stated, “This complex is located in Cheongdam-dong, the best location in Korea, and is a top-tier high-end product that is not significantly affected by external issues such as price and interest rate increases. Lucia Holdings sold out 100% of its first project ‘Lucia Dosan 208’ on Dosan-daero within two months last year, and the second project ‘Lucia Cheongdam 546 The River’ also virtually sold out, so we believe there will be no issues with the sales performance of this project, ‘Lucia Cheongdam 514 The Terrace.’”
‘Lucia Cheongdam 514 The Terrace’ is located in Cheongdam-dong, Gangnam-gu, Seoul, and consists of a total of 45 units, including 25 residential units (contract area 257~452㎡) in a building with 6 basement floors and 20 above-ground floors, and 20 officetel units (contract area 179~223㎡).
First, ‘Lucia Cheongdam 514 The Terrace’ differentiates itself from existing high-end properties by being Korea’s first vertical forest. A vertical forest is a green building where trees and plants are planted on the building itself to create a forest-like environment. It aims to avoid urban and standardized residential spaces and realize the intrinsic value of nature, people, and living spaces.
In particular, Lucia Holdings designed ‘Lucia Cheongdam 514 The Terrace’ as a more evolved product. Beyond the first-generation vertical forest, which simply added terraces to a vertically rising building, this second-generation vertical forest is designed with staggered floors to allow more nature to flow indoors. This is the result of Lucia Holdings’ efforts to capture more sunlight and wind.
The interior design is also exceptional. Customized designs considering each unit’s view and sunlight rights will be applied, and various types such as single-story, duplex, and penthouse units will be configured to broaden the choices for buyers. The interior layout can be customized to reflect customers’ tastes and needs.
Moreover, spacious terraces exclusive to each unit are provided, allowing for diverse uses such as home cafes, small gardens, and galleries. Additionally, through the various species of plants planted throughout the building, residents can enjoy the changing seasons more closely than anyone else.
High-quality finishing materials that enhance the quality of life will be applied inside the units. Italian high-end kitchen furniture products can be selected free of charge, and luxury brand products leading the global bathroom product market will be installed in the bathrooms.
Various customized community facilities such as a golf party room, multi-fitness center, and welcome lounge will be arranged within the complex, and on the top floor of the building, residents can enjoy a different level of leisure and healing with amenities like a pool cabana and infinity pool in the heart of the city.
Additionally, hotel-style concierge services for residents’ convenience, including art curating, plant interior design, breakfast service, housekeeping, and valet parking, will be provided, and an integrated living platform unique to the Lucia brand, linked with mobile devices, will be applied for convenience.
Unlike other high-end projects that focus mainly on video promotions, Lucia Holdings is dedicating great effort to building units of ‘Lucia Cheongdam 514 The Terrace’ at the Lucia Gallery located in Samseong-dong. Once sales begin, potential buyers can directly see the interior layouts and designs. The Lucia Gallery will operate by reservation only.
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