Knowledge Industry Center with Transportation, Nature, and Marketability 'Magok I-Park Dearban' Attracts Attention

- Demanders Actively Seeking True Gems in Knowledge Industry Centers
- Demand Focused on Locations with Transportation, Nature, Marketability, and Future Value Enhancing Work Efficiency

As the supply of knowledge industry centers continues, demanders are actively distinguishing the true 'gems' from the rest.

Among the many factors that determine the value of real estate, strong demand is forming in places equipped with elements that enhance work efficiency such as transportation, natural environment, marketability, and future value. Accordingly, the 'Magok I-Park The Urban' knowledge industry center currently being sold in the Magok district of Seoul is attracting the attention of demanders.

The complex is the first knowledge industry center in the Magok district, located in Magok-dong, Gangseo-gu, Seoul. It will be built with 5 basement floors to 11 above-ground floors, totaling approximately 72,000㎡ in gross floor area with 206 units. Of these, 118 units are for sale excluding 88 units for lease. It features not only an excellent location but also an incomparable scale. Additionally, it is expected to offer a differentiated and pleasant working environment along with convenience facilities for residents.

'Magok I-Park The Urban' provides an optimal business environment that can expand not only domestically but also globally. It is situated 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, with Olympic-daero nearby, making access to Seoul and metropolitan downtown areas easy. Via Gonghang-daero, accessibility to Gimpo Airport and Incheon International Airport is excellent, facilitating convenient travel anywhere domestically and internationally.

The nearby natural environment is also noteworthy. The Seoul Botanic Park, approximately 504,000㎡ in size?about twice the area of Yeouido Park?and a wetland ecological park to the north provide spaces where employees of resident companies can enjoy relaxation. In addition, cultural parks and community parks are close by.

The future value is also high. 'Magok I-Park The Urban' is the first knowledge industry center to be established within the Magok district, which has a total gross floor area of about 3.66 million㎡ (approximately 1.1 million pyeong). Especially as an R&D-specialized knowledge industry center, it is expected to generate greater synergy effects among companies.

In fact, the Magok Industrial Complex is an advanced research and development (R&D) industry cluster spanning 1,124,000㎡ (about 340,000 pyeong), equivalent to 157 soccer fields (7,140㎡ each). A total of 199 domestic and international companies in R&D fields such as Information Technology (IT), Biotechnology (BT), Nanotechnology (NT), and Green Technology (GT) have signed lease contracts here, and 149 companies including LG, Lotte, Kolon, and S-Oil have completed their move-in.

Expectations are high as some parts of the Magok MICE development are scheduled for completion this year. The CP1 and CP2 blocks are the main projects. CP1 block will include cultural and assembly facilities, office spaces, tourist accommodation facilities (hotel), and retail facilities with a gross floor area of 326,061㎡. Construction is scheduled to be completed by September. CP2 block will feature COEX Magok, office facilities, and residential accommodation (Lotte Castle Le West) with a gross floor area of 198,724㎡. Construction is planned to finish between June and July 2024.

'Magok I-Park The Urban' is expected to maximize work efficiency for resident companies with a specialized design befitting the I-Park brand. It secures excellent natural lighting through a courtyard structure and plans to establish a promotional exhibition hall, makerspace, and shared meeting rooms. A sunken plaza will be provided underground to serve as a meeting space for the public and companies, as well as a place for small and medium-sized enterprises to promote and network. Multi-purpose halls, fitness facilities, community yards, and a shared warehouse of approximately 970 pyeong (about 3,206㎡) are designed prioritizing the convenience of resident companies.

Meanwhile, up to 80% of the sale price of 'Magok I-Park The Urban' can be financed through loans, and if conditions are met, low-interest loans (at the base interest rate level) are also available from institutions such as the Small and Medium Business Corporation and various city and provincial foundations (in some regions).

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