- Imunhwigyeong New Town's Leading Complex 'Raemian La Grande' Commercial Space Grand Opening of Promotion Center on April 19
- Unprecedented Financial Benefits at More Reasonable Prices Than 5 Years Ago
The flagship commercial complex within Imunhwikyung New Town, ‘Raemian La Grande,’ announced that its on-site shopping mall will open its promotional center on April 19 and begin full-scale sales. This commercial complex is expected to attract significant attention as it greatly reduces buyers’ financial burdens through reasonable sale prices and unprecedented financial benefits.
The on-site shopping mall at Raemian La Grande consists of a total of 7 buildings (Buildings A to G). They are located along Imun-ro Boulevard within Complex 1 (Buildings A to C), near Hankuk University of Foreign Studies in Complex 2 (Buildings D and E), and along the road between Complexes 1 and 2 (Buildings F and G). Leveraging the characteristics of each location, a diverse MD composition is planned, including retail zones, anchor tenant zones, kids zones, education zones, and clinic zones.
Recently, the commercial market, like the residential market, has seen continuous price increases due to rising costs of materials, labor, and land. In Seoul, the sale price of new commercial properties has already exceeded 10 million KRW per 3.3㎡ of exclusive area. In the Gangnam area, prices have long surpassed 20 million KRW per 3.3㎡, and in districts such as Gangbuk and Dongdaemun, prices have stabilized at around 10 million KRW per 3.3㎡.
A sales official stated, “The on-site shopping mall at Raemian La Grande is characterized by significantly reducing the financial burden on buyers, which has been increasing like this. In particular, it offers benefits that reduce not only the price burden but also interest burdens, and inquiries have already been pouring in.”
The commercial units will first be supplied at more reasonable prices than those from five years ago. At the same time, a groundbreaking financial benefit called the "88 Promotion" will be implemented. The benefits of the 88 Promotion allow buyers to choose one of the following: either an 8% annual discount when paying the intermediate payment in advance, or up to 8% support on interest incurred from personal loans taken individually for intermediate payment.
Meanwhile, Imunhwikyung New Town, where the Raemian La Grande commercial complex is being developed, is entering the final stages of large-scale redevelopment. As existing residents and new tenants return, the commercial district is expected to expand further, leading to increased regional value and economic revitalization. This is anticipated to heighten interest from buyers aiming to secure future value.
According to Statistics Korea, Dongdaemun-gu, where Imunhwikyung New Town is located, recorded a total population of 341,149 last year, an increase of 4,505 people compared to 2022.
This marks the end of a population decline trend that lasted about seven years. Dongdaemun-gu’s total population was 350,647 in 2015, then decreased annually to 348,052 in 2018, 346,194 in 2019, 342,837 in 2020, 337,400 in 2021, and 336,644 in 2022.
The on-site shopping mall at Raemian La Grande is located in the very center of the Imunhwikyung-dong area, characterized by a large-scale captive demand. It has secured a fixed demand from 3,069 households in a mammoth complex, and as it is situated in the core location of Imunhwikyung New Town, it will be easy to attract residential demand from about 14,000 households and approximately 40,000 residents in the surrounding area in the future.
Additionally, it is adjacent to Hankuk University of Foreign Studies Seoul Campus, and nearby universities such as Kyung Hee University and Korea National University of Arts are located, which is expected to attract diverse demand from students and faculty. Based on this, it is also anticipated to mark the beginning of the MZ commercial district planned for Imunhwikyung, drawing significant interest according to local real estate officials.
Furthermore, the complex is close to Line 1’s Hyehwa Station and Sinimun Station, which see an average of about 15,000 daily visitors, attracting demand from station-area users. Nearby is also Cheongnyangni Station, which will become Korea’s only multi-station area intersected by as many as 10 lines, including GTX-B and GTX-C, promising additional demand expansion and synergy effects.
The sales promotional center for the Raemian La Grande on-site shopping mall is located in the Cheongnyangni-dong area of Dongdaemun-gu.
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