Development of an Urban Complex with Approximately 6,000 Households Near Both Work and Home
"Setting a Model Case by Leveraging the Strengths of Private Urban Complex Development Projects"
Daishin Asset Trust will participate in a development project in the Samjeon-dong area of Songpa-gu, Seoul.
On July 30, Daishin Asset Trust announced that it had signed a memorandum of understanding (MOU) with the project preparation committee to participate in the 'Samjeon Urban Complex Development Project.'
Kim Songgyu, CEO of Daesin Asset Trust (left), and Choi Seungpil, Chairman of the Samjeon Urban Complex Development Project Promotion Committee (right), are taking a photo after signing a business agreement on the 30th. Photo by Daesin Securities
The Samjeon Urban Complex Development Project, which is planned to be a large-scale complex of approximately 6,000 households, is located between Jamsil and Seokchon, the central areas of Songpa-gu, and is within walking distance of Samjeon Station and Seokchon Gobun Station on Subway Line 9.
The site is attracting attention as a prime location for both work and residence, being just 10 minutes away from the Gangnam Business District (GBD). In the future, large-scale business districts such as the Jamsil MICE Complex and Hyundai Motor Group GBC are also expected to be established.
In addition, access to downtown Seoul is convenient via Olympic-daero and Dongbu Expressway, and the area boasts excellent living infrastructure, including Lotte World Tower, COEX, and Olympic Park.
The Samjeon Urban Complex Development Project is being promoted in accordance with the 'Act on Support for Urban Complex Development,' which was implemented in February this year. The project can benefit from eased restrictions on maximum floor area ratio and maximum building coverage ratio by zoning, as well as simplified permitting procedures, allowing for rapid development through special exemptions.
A representative from Daishin Asset Trust stated, "We will successfully lead and complete the project by leveraging the unique advantages of the private urban complex development project, which has been implemented since this year," adding, "We aim to develop this as a landmark residential complex symbolizing the future of Samjeon-dong and set a model case for private urban complex development projects."
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