Taeyoung Selected as Preferred Negotiator for Sale and Construction of Magok District CP4 Site

[Asia Economy Reporter Onyu Lim] The Taeyoung Construction consortium announced on the 2nd that it has been selected as the preferred negotiator for the sale of the CP4 site in Magok District, Gangseo-gu, Seoul, and the construction of a mixed-use building, a project led by Emart.

The site, with a land area of 39,050㎡, is located on the north side of Magok Station on Line 5, and large-scale office and commercial facilities, excluding officetels, can be built in the future.

In this consortium, Taeyoung Construction, the project lead, will be responsible for the completion of the mixed-use building to be constructed, while Aegis Asset Management will oversee the asset sale operations for this project. The building will have a total floor area of approximately 470,000㎡, with 7 basement levels and 12 above-ground floors, and the project period is expected to be five years.

The PM (Project Management) role for this project will be handled by the developer Aegis Renewables, and Meritz Securities will be responsible for financing the project.

Taeyoung Construction stated, "We are planning large green spaces, office facilities, commercial facilities including Emart Traders, and cultural facilities combined under the development concept of a small city within the urban area that provides satisfaction for both work and leisure."

This content was produced with the assistance of AI translation services.