Positive Developments Around Sangbong Station Led by 'The Sharp First World Seoul'

- 'The Sharp First World Seoul' Leads a Complete Transformation... First Priority Subscription Opens on the 26th
- Sangbong Emart Site, Urban Complex District, Redevelopment Promotion District, and Other Major Development Projects

The real estate market in the Sangbong area is buzzing. While large-scale development is progressing smoothly, additional development news continues as the government designates the area around the old Sangbong Terminal as an urban public housing complex district. In particular, with major development projects in the Sangbong area, led by ‘The Sharp First World Seoul’ built through the Sangbong Terminal development, demand from buyers aiming to secure future value is intensifying.

In fact, the Sangbong area is undergoing a ‘complete transformation’ through large-scale development. It is analyzed to be similar to the cases around Wangsimni Station and Cheongnyangni Station, where old housing and commercial facilities disappear and are replaced by high-rise buildings. Especially, with the Sangbong Terminal development attracting high interest from buyers and various redevelopment projects planned in the area, expectations are rising that this area will establish itself as a new center in the northeastern part of Seoul.

The Sangbong Terminal development is a project included in the Sangbong Redevelopment Promotion District 9, where POSCO E&C is constructing a residential complex called ‘The Sharp First World Seoul’ consisting of five buildings ranging from 8 basement floors to 49 above-ground floors. The complex offers a total of 999 residential units with exclusive areas ranging from 39 to 118㎡, of which 800 units are for general supply. A model house has been opened, and full-scale sales have begun. Additionally, officetels (84㎡ exclusive area, total 308 units), retail facilities, cultural and assembly facilities, and neighborhood living facilities will also be constructed.

The sales schedule for The Sharp First World Seoul includes special supply starting on the 24th (Tuesday) and first-priority subscription on the 26th (Thursday) via the Korea Real Estate Board’s Apply Home. The announcement of winners is scheduled for January 3, 2025 (Friday), and contracts with winners will be conducted over three days from January 14 (Tuesday) to 16 (Thursday). Notably, for the 98㎡ and 118㎡ exclusive area types, a 5% down payment (first installment fixed at 50 million KRW, with the balance due within 30 days) is offered to ease initial funding, and for the 39㎡ and 44㎡ types, financial benefits such as interest-free intermediate payments reduce the burden of home ownership, enhancing investment value.

[The Sharp First World Seoul CG]

As the most preferred residential area in Jungnang-gu, it also offers excellent living conditions. Both Sangbong Station and Mangu Station are within walking distance from the complex, allowing convenient access to five lines: Line 7, Gyeongui-Jungang Line, Gyeongchun Line, KTX, and the planned GTX-B line, making it a ‘Penta Station Area.’ Especially, starting December 20, the KTX-Eum train on the Jungang Line operates from Cheongnyangni Station through Sangbong Station to Bujeon Station (Busan), enabling residents of Jungnang-gu to reach Busan from Sangbong Station in about 3 hours and 50 minutes, making nationwide travel more convenient.

Currently, it is also easy to travel to Gangnam, Yongsan, and City Hall, and once the GTX-B line opens, access times to Seoul Station, Yeouido, and Incheon Songdo will be significantly shortened. Additionally, the area is well connected by major roads such as the Northern Arterial Road, Eastern Arterial Road, Metropolitan Area 1st Ring Expressway, and Sejong-Pocheon Expressway.

The living infrastructure is already abundant, providing excellent residential convenience. Facilities such as Costco, Homeplus, Enter Six, CGV, Seoul Northern Hospital, and Seoul Medical Center are easily accessible, and retail and cultural facilities covering approximately 29,000㎡ on the lower floors of the complex (basement 1 to 2 floors) are planned, enabling a one-stop lifestyle.

Nearby schools include Myeonmok Elementary, Junghwa Elementary, Sangbong Middle, Jangan Middle, and Junghwa High School. The complex is also close to Jungnangcheon Stream, Bonghwa Mountain, Bonghwa Mountain Neighborhood Park, and Jungnang Family Camping Site, providing a pleasant living environment.

Moreover, following the supply of The Sharp First World Seoul, other major development projects in the vicinity are expected to proceed actively. The Ministry of Land, Infrastructure and Transport previously announced an urban public housing complex district project to redevelop a low-rise residential area on approximately 44,000㎡ near Myeonmok-dong adjacent to Sangbong Terminal, planning to supply 1,168 housing units.

The Sangbong Redevelopment Promotion District includes four promotion zones (Districts 7 to 10), Sangbong 9-I Preservation Management Zone, and Sangbong Special Planning District 7. Sangbong Redevelopment Promotion District 8 has already been completed as the 48-story mixed-use complex ‘Sangbong Premier Emco.’ The 7th district, with a construction cost of 438.2 billion KRW, is expected to have 841 residential units in a building ranging from 7 basement floors to 49 above-ground floors on a 14,996㎡ site, along with auxiliary welfare facilities. The Sangbong Station District 4 street housing redevelopment project plans to build a 225-unit apartment complex consisting of five buildings ranging from 2 basement floors to 15 above-ground floors on an 8,552㎡ site. Construction is entrusted to WooMi Construction.

The Sangbong 9-I Preservation Management Zone, known as the Sangbong E-Mart site development, has signed a contract for new construction of a mixed-use complex with HDC Hyundai Development Company and Aju Corporation. Specifically, a complex with 254 residential units and 190 officetel units, totaling 444 households, will be built, with completion targeted for 2029. Additionally, the Sangbong District 13 (around 1,200 units), ongoing Moa Town projects, and Sangbong Station area youth housing (351 units) are also underway, indicating significant changes in the residential environment in this area.

Furthermore, in line with the planned GTX-B line, the ‘GTX Sangbong Station Complex Transfer Center’ development is also being promoted. This facility will allow transfers between UAM (Urban Air Mobility) and trunk buses and is expected to be constructed as a building up to 19 floors above ground with a total floor area of approximately 218,000㎡. Once completed, the GTX Sangbong Station Complex Transfer Center is expected to further strengthen the status of the northeastern transportation hub.

A representative from S Real Estate Agency near The Sharp First World Seoul said, “Among the urban public housing complex districts designated in Sangbong, Yaksu, and Bulgwang, the area around Sangbong Terminal, where large-scale development projects are progressing smoothly, has the highest potential for value increase in terms of speed and scale, and the regional status could change in the future like Wangsimni or Cheongnyangni.” He added, “Especially, The Sharp First World Seoul, supplied through the Sangbong Terminal development, is emerging as the flagship apartment representing the completely transformed Sangbong area, and inquiries from buyers wishing to apply to secure future value are significantly increasing.”