Outstanding Transportation and Vision in Magok District... 'Newb Cloudhills' in the Spotlight

Presenting the Unique Value of "Build-First, Sell-Later" Office Buildings Accelerating Corporate Success in an Era of Uncertainty
All Advantages in Location, Product, and Benefits... A Prime Choice for Immediate Occupancy

Recently, the Magok District has been emerging as the "fourth business hub." This is due to the rapid establishment of research and development (R&D) facilities and advanced industrial infrastructure by both domestic and international companies, resulting in a steady influx of businesses. In particular, as facilities in Seoul's major business districts become outdated, more companies are seeking new locations.

Seoul has traditionally developed its business structure around key business districts such as the Central Business District (CBD), Gangnam Business District (GBD), and Yeouido Business District (YBD). However, with the aging of facilities in these major business districts and relatively high rental prices, companies have faced increasing burdens.

According to the real estate development industry and the architectural administration system 'Seumter', 38.9% (4,106,611㎡ out of 10,557,441㎡) of large office buildings (with a total floor area of 33,000㎡ or more) in Seoul's downtown, Gangnam, and Yeouido areas are over 30 years old.

Additionally, according to global real estate services firm CBRE, the effective rent for large offices (33,000㎡ or more) in downtown Seoul in the fourth quarter of last year was 110,000 won per 3.3㎡, a 6.91% increase from the previous year. The increase was particularly significant in Gangnam (12.74%) and Yeouido (16.03%). For extra-large offices (with a total floor area of 100,000㎡ or more), the rent per 3.3㎡ exceeded 160,000 won.

As these burdens increase, companies are relocating in search of new spaces. Companies related to the Fourth Industrial Revolution, such as those in gaming, software, information technology (IT), and artificial intelligence (AI), particularly prefer pleasant environments and new offices. As a result, there is growing interest in Magok District as a tailored space for these needs.

Currently, more than 200 domestic and international companies in research and development fields such as information technology (IT), biotechnology (BT), nanotechnology (NT), and green technology (GT) have signed contracts to move into Magok District. Companies such as LG Science Park, Lotte, Kolon, Nexen, and S-Oil have already completed their relocations. Recently, LG AI Research Institute, Korean Air, Air Zeta, E-Land Group, and DL Group have also established a presence, and major business divisions of Daemyung Sono Group and Lotte Construction are planning to relocate as well.

Industry experts estimate that by around 2027, the resident population within Magok District will reach 170,000. This figure is four times that of Sangam DMC (about 40,000) and more than twice that of Pangyo Techno Valley (about 78,000), solidifying Magok District's status as a leading business district in Seoul.

A real estate industry expert stated, "With the increase in corporate inflow, residential demand in Magok District is also expected to expand in the long term. Even within Seoul, the area offers a stable infrastructure for proximity between work and home, attracting not only end-users but also a steady stream of investment demand."

Amid growing corporate interest and relocations, 'Newb Cloudhills', which was recently completed and has begun welcoming tenants, is attracting significant attention from numerous companies.

'Newb Cloudhills', built by the Woomee Construction Consortium in Magok-dong, Gangseo-gu, Seoul, boasts an impressive scale with four basement floors and eleven above-ground floors (297 business units and 83 support units), totaling approximately 99,651㎡ of floor space. Currently, 272 business units are available for sale or lease. For companies, this offers the advantage of reducing initial capital investment while also considering future asset ownership options, making it a highly attractive proposition.

Newb Cloudhills offers dedicated spaces optimized for various unit sizes and work types, as well as efficient shared facilities such as coworking offices, lounges, and meeting rooms. This setup not only promotes collaboration among tenant companies but also enhances work efficiency and employee satisfaction, setting it apart from other offerings.

To the north, the building enjoys panoramic views of Gungsan, and it is adjacent to ecological wetlands parks and the Seoul Botanic Park, providing a pleasant work environment that distinguishes it from other major business districts.

The location also offers excellent business accessibility. Situated at the core of Magok District, 'Newb Cloudhills' is highly connected to traditional business districts such as the Central Business District (CBD), Gangnam Business District (GBD), and Yeouido Business District (YBD).

Nearby subway stations include Yangcheon Hyanggyo Station and Magoknaru Station on Line 9, as well as Balsan Station on Line 5, ensuring outstanding accessibility. The proximity to Gimpo International Airport and Incheon International Airport also allows for convenient travel, effectively meeting the needs of businesses with frequent domestic and international trips.

In addition to these geographical advantages, the area is home to major R&D hubs of leading Korean conglomerates such as LG Science Park, Kolon, DL, and Nexen. This enables tenant companies to seek overwhelming industrial connectivity and synergy in technological collaboration.

The financial and tax benefits are also noteworthy. 'Newb Cloudhills' offers a variety of tax and financial incentives. Tenant companies that complete registration by December 31, 2025, can receive up to a 35% reduction in acquisition and property taxes. Companies certified as venture businesses can benefit from up to 50% reductions in income and corporate taxes and a 75% reduction in acquisition tax for up to five years.

Furthermore, if certain requirements are met, companies can utilize low-interest policy funds and development funds through policy finance institutions such as the Small and Medium Business Corporation and the Credit Guarantee Foundation (in select regions), minimizing the burden of initial funding.

More detailed information is available on the website, and in-depth consultations can be received by visiting the promotional center located on the first floor of 'Newb Cloudhills'.