- Dunchon Jugong Reconstruction Apartment Complex Commercial Space Sale
- 'Olympic Park Foreon' Complex Commercial Space Bid Results
The bidding and formal contracts for the commercial complex 'Foreon Station 5' within the Dunchon Jugong reconstruction apartment complex 'Olympic Park Foreon' were completed on December 3rd.
On November 29th, the bidding recorded a highest competition rate of 15 to 1, and during the four-day formal contract period from November 30th to December 3rd, most units from the 1st to 3rd floors above ground were sold, excluding some units on the basement 1st floor and the basement 2nd floor stores designated as blocks for attracting a large medical center.
A sales official from the project site stated that achieving such a high sales rate during difficult times is due to the strength of the commercial complex within South Korea's largest complex of 12,032 households, and it is expected that the remaining units will be sold soon.
Meanwhile, the basement 2nd floor stores will be sold as individual units after lifting the block designation. The basement 2nd floor is directly connected to Dunchon-dong Station on Subway Line 5 and is expected to have the highest foot traffic, making it the floor with the most inquiries even before sales began.
'Foreon Station 5' is a landmark commercial facility securing an enormous hinterland demand of approximately 27,000 households. It is expected to attract additional demand from about 15,000 households in the surrounding area, in addition to the country's largest complex of 12,032 households, significantly increasing the future value of the commercial facility. It is anticipated to absorb a large number of additional demands from the surrounding area as a landmark shopping complex in the regional central commercial district, enjoying a premium with high scarcity value.
Additionally, the commercial facility is equipped with 10 elevators and 6 escalators, designed to connect the flow from the apartments through the commercial complex to the subway. It offers a spacious openness with high ceiling heights ranging from 3.5m to 4.2m. The parking capacity is generously secured with 526 spaces, exceeding the legally required 325 spaces. Each of the three floors is equipped with a parking system that provides information on remaining parking spaces by line, and the parking spots are designed with a wide width of 2.5 meters.
Given the large scale of the commercial facility, it is expected to provide an 'all-in-one' environment where residents can enjoy everything needed in one place, including living, dining, clinics, and science institutes. A strategic MD composition is planned for each floor to ensure no vacancies 365 days a year. Visitors can also enjoy the scenery of New York streets, dazzling lighting, various artistic decorations, and a pleasant and spacious rooftop garden.
'Foreon Station 5' boasts a premium feature of direct connection from Dunchon-dong Station on Subway Line 5 to the commercial complex and apartments. In fact, the subway 'direct shopping mall' is very advantageous for revitalizing the commercial facility as it attracts not only apartment residents but also the floating population from the surrounding areas using the subway.
The 'Foreon Station 5' promotional center is currently in operation.
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