Construction aimed for completion in 2026
European-style concept including UK and France
Designed by LDA and Meyer Partners
"Time Villas brand newly established"
Lotte Group's new complex shopping mall, Time Villas, will be introduced in Daegu Suseong and Incheon Songdo. Designed by world-renowned architectural firms, the shopping malls have been newly branded from exterior design to internal structure, aiming to redefine Lotte's identity and target affluent local neighborhoods.
According to industry sources on the 29th, Lotte Department Store is currently constructing Time Villas Suseong and Songdo locations, with completion targeted for 2026. Both began construction in December last year. The Suseong location is planned as a premium shopping mall with two basement floors and five above-ground floors (site area approximately 76,033㎡ / 23,000 pyeong), while the Songdo location aims to be a resort-style shopping mall with 22 above-ground floors and around 200 rooms (site area approximately 85,950㎡ / 26,000 pyeong).
Lotte Department Store is known to have adopted a European style concept for both the interior and exterior of Time Villas Suseong and Songdo. This approach draws inspiration from Lotte’s corporate name, 'Charlotte,' which originates from the novel Werther’s Sorrows, intending to embody the rich imagery of Europe. Lotte Department Store entrusted the design of the Suseong location to the British architectural firm LDA (Leonard Design Architects), and the Songdo location to the American firm Meyer Partners, led by a master of modern architecture.
LDA, responsible for the design of Time Villas Suseong, previously designed 'The Hyundai Seoul' department store in Yeongdeungpo-gu, Seoul, and the large shopping mall 'Westfield London' in London, UK. Last year, the main design team traveled from the UK to conduct an on-site survey at the planned construction site in Daegu’s Daeheung-dong, Suseong-gu. LDA is also reported to have incorporated Daegu’s representative natural landscapes, such as Palgongsan Mountain, into the exterior design of Time Villas Suseong.
The Songdo location’s design firm, Meyer Partners, is led by architect Richard Meyer, known as the 'White Architect.' Richard Meyer’s architectural style features predominantly pure white exteriors and maximizes the use of natural light and surrounding scenery. His works in Korea include the Seamarq Hotel in Gangneung and the Solol Art Museum. The exterior of Time Villas Songdo is also designed with a pure white base, blending harmoniously with natural green spaces as a resort-style shopping mall.
Lotte Department Store plans to establish the Time Villas brand and identity through the Suseong and Songdo locations. To this end, the company has removed the 'Lotte' name from the shopping malls. Notably, Daegu’s Suseong-gu and Incheon’s Songdo are considered the most affluent neighborhoods in their respective regions. This strategy is interpreted as an effort to build an image of a luxurious shopping mall. A Lotte Department Store official stated, "While the Suwon location is a renovation of an existing store, the Suseong and Songdo locations are newly constructed buildings with designs developed through consultations. You can see this as establishing the Time Villas brand anew."
Time Villas is a new complex shopping mall brand launched after Jeong Junho was appointed CEO of Lotte Department Store. Jeong served for 30 years from 1987 at Shinsegae Department Store and Shinsegae International’s overseas fashion division, competitors of Lotte. Since becoming CEO of Lotte Department Store in 2022, he has emphasized a premium strategy.
The first Time Villas location, Suwon, was renovated from the existing Lotte Mall Suwon and pre-opened in April, with a grand opening scheduled for next month. CEO Jeong is currently focusing the company’s capabilities on the success of Time Villas. At the 'Second Half Strategy Sharing Meeting' held at Time Villas Suwon on the 23rd, he stated, "We see shopping malls as a future growth engine," and urged, "Please proceed smoothly with the plans to open Time Villas Suseong and Songdo."
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