Creation of Premium Complex Space with Wellness Center and Education Town
Providing Solutions in Collaboration with Real Estate Consulting Firm CBRE
100% Property Compensation at General Sale Price in Case of Unsold Commercial Units
Samsung C&T has proposed a plan to attract more than 80 brands, including a famous hospital in Gangnam, academies in Daechi-dong, and premium cinemas, to the commercial facilities in Hannam District 4.
On the 19th, Samsung C&T Construction Division announced that it will apply landmark designs such as terrace shopping malls and sunken gardens to the commercial facilities in Hannam District 4 and collaborate with CBRE, the world's number one real estate consulting firm, to maximize the value of the shopping mall.
Samsung C&T plans to partner with over 80 brands to develop the commercial facilities in Hannam District 4 into a premium complex space representing Hannam New Town.
‘Regen Medical Group,’ a famous hospital in Gangnam, and ‘Medical AI,’ which provides advanced artificial intelligence (AI)-based healthcare services, have submitted letters of intent to move in.
To specialize the area as an education town, academies such as Daechi-dong Igarten, Cheongdam Language Academy, and MCC Education will also be attracted. A one-stop education system covering everything from early childhood education to international schools and studying abroad will be established.
For the shopping mall adjacent to the Han River, trendy pop-up stores and cinemas are planned as lifestyle-oriented facilities. The premium cinema ‘Orpheo,’ equipped with the highest quality sound system and currently located in the Chosun Hotel and the luxury residential complex Park Hannam, will be brought in.
Along the route from Itaewon Station to Bogwang Intersection, a European-style street shopping mall concept will be implemented, attracting various F&B brands, living edit shops, and experiential specialty stores.
Samsung C&T will collaborate with global real estate consulting firm CBRE to provide comprehensive solutions including shopping mall design, composition, and operation through commercial district analysis.
Measures to increase the profitability of shopping mall union members were also proposed. These include systematic management through consignment operation by large distribution companies or attracting investors by leasing followed by sale.
If union members wish, collaboration with GRE Partners Asset Management, a specialized asset management company for commercial facilities, will be conducted to enable bulk sale of the commercial facilities.
Samsung C&T plans to guarantee the interests of union members by repaying 100% in kind at the initial general sale price if unsold commercial spaces occur.
Samsung C&T explained, “We have partnered with more than 80 of the best domestic brands by actively reflecting union members’ demands so that the space can be reborn as a premium complex representing Hannam New Town beyond a simple shopping mall space. We will provide comprehensive customized solutions from differentiated design and brand composition to rapid shopping mall operation and activation after completion.”
Samsung C&T is competing with Hyundai Engineering & Construction to win the construction rights for the Hannam District 4 redevelopment project. Samsung C&T proposed the complex name ‘Raemian Glowhills Hannam.’ The general meeting for selecting the contractor will be held on the 18th of next month.
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