Hyundai Engineering Opens Model House for High-End Officetel 'Luca831'

Following 'One Edition Gangnam' earlier this year, 'Luca831' also launches high-end residential units
Comprising 337 units from basement level 7 to ground level 29, with exclusive areas of 50~71㎡
Featuring classic arch-shaped exterior design and innovative elements like window seats and island tables
Applications accepted on May 17-18 via Korea Real Estate Board's Subscription Home, winners announced on the 24th, contracts on the 26th

Luca831 bird's-eye view / Provided by Hyundai Engineering.

[Asia Economy Reporter Kangwook Cho] Hyundai Engineering announced on the 30th that it will be selling units in the high-end officetel ‘Luca831,’ located in the area of 831-11 Yeoksam-dong, Gangnam-gu, Seoul, and five other parcels.

‘Luca831’ consists of a total of 337 units, ranging from 50 to 71㎡ in exclusive area, spanning from 7 basement floors to 29 above-ground floors. The units are composed by exclusive area as follows: △50㎡ 13 units △53㎡ 27 units △54㎡ 162 units △55㎡ 27 units △56㎡ 54 units △70㎡ 27 units △71㎡ 27 units. It holds high rarity value as an officetel with over 300 units, which is hard to find in the Gangnam area.

Hyundai Engineering is continuing its active strides in the high-end residential product sector this year, following ‘One Edition Gangnam.’ The ‘One Edition Gangnam’ officetel, which was sold in February, received 1,540 applications for 234 units, recording a highest competition rate of 10.42 to 1.

Located near Gangnam Station, a hub of business and convenience facilities... Excellent transportation and residential convenience

The ‘Luca831’ officetel is located within a 5-minute walk from Gangnam Station, a double station area served by the Sinbundang Line and Line 2, offering excellent transportation conditions. The first phase of the Sinbundang Line extension connecting Gangnam to Sinsa is scheduled to open in 2022. Furthermore, according to the 4th National Railroad Network Construction Plan, the northwest extension project of the Sinbundang Line (Gangnam-Sinsa-Yongsan-Goyang Samsong Station) is underway, which is expected to further improve transportation conditions.

Also, being located at the center of Gangnam-daero, it provides easy access to Olympic-daero and Gyeongbu Expressway. It boasts excellent accessibility to major Gangnam areas such as Gangnam Station Samsung Town, Teheran-ro, and Seocho Legal Town, as well as abundant cultural facilities including Shinsegae Department Store Gangnam Branch, the National Library, and the Seoul Arts Center.

Various developments are also planned nearby. According to Seocho-gu’s ‘Seocho-ro District Unit Plan Revision,’ the Lotte Chilsung site, Kolon site, and Lion Mising site along Seocho-daero will be designated as special planning zones and developed into an international business and commercial complex center. Additionally, the former Intelligence Command site near Seoripul Park in Seocho-gu, Seoul, is set to be transformed into a large office town blending advanced companies, nature, and cultural spaces. According to Seoul city data, out of the total 160,000㎡ of the Intelligence Command site, approximately 96,797㎡ excluding the park will be developed into a 4th Industrial Revolution cluster.

Classic arch-shaped exterior design and innovative product design applied... Providing upscale residential products and services

‘Luca831’ plans to present a differentiated residential space under the concept of a layered house that can accommodate various functions beyond basic residential functions. Through specialized design, arch shapes are applied to the entire building facade, and the interior, optimized for efficiency, features an arch-shaped tunnel from the entrance to provide visual beauty while protecting the privacy of the interior space.

The main unit, the 54㎡ Type A, is designed with a ceiling height of approximately 2.9m, higher than typical officetels, offering expansive views and excellent openness. In particular, the approximately 2.7m-long window seat placed by the window can be used for personal activities such as rest and reading, as well as a workspace for telecommuting. The innovative floor plan includes an 11-shaped kitchen with an approximately 2.7m-long island table. Additionally, a separate dressing room space is provided to accommodate a styler, washing machine, and dryer all at once, and some types even include a bathtub.

On the first basement floor, hotel-style concierge services will be operated, offering various services for residents such as valet parking and unmanned parcel lockers. High-end convenience facilities including an infinity pool will be provided on the rooftop, and premium commercial facilities will be developed on the 1st and 2nd floors to enhance convenience.

Another advantage is that regulations are less strict compared to apartments in the Gangnam area. No subscription savings account is required when applying, and anyone aged 19 or older residing in Korea can apply regardless of re-winning restrictions, residence restrictions, or home ownership status. Even if you own an officetel, you can maintain first-priority subscription eligibility when applying for an apartment, and there is no need to submit a financial plan.

A Hyundai Engineering official said, "In line with the recent trend of premium housing where the proportion of the millennial generation is increasing, we plan to lead the high-end residential product sector this year by reflecting the trends they pursue."

Subscription applications will be accepted for two days from the 17th to the 18th of next month through the Korea Real Estate Board’s subscription homepage, with winners announced on the 24th and contracts signed on the 26th.

The ‘Luca831’ model house is located in the Seolleung-ro area of Gangnam-gu, Seoul. It will be created as a new concept model combining the premium cafe & dining space ‘Luca Kitchen’ with the model house and will operate on a 100% reservation basis.

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