Umi Construction Consortium Wins Bid for Magok Seoul Botanic Park West Side Landmark Site

Magok Seoul Botanical Garden West Side Landmark Site Private Developer Public Offering Perspective View

[Asia Economy Reporter Ryu Tae-min] The Umi Construction consortium announced on the 6th that it was selected as the preferred negotiation partner for the "Magok Seoul Botanical Garden West Side Landmark Site Private Developer Public Offering Project" commissioned by the Seoul Housing and Communities Corporation (SH) on the 29th of last month.

For this project, Umi Construction formed a consortium with real estate asset management company Aegis Asset Management and Hallim Development. The design was undertaken by ANU Architects.

The project involves the development of commercial, office, cultural, and assembly facilities and is being promoted within DSP1 and DSP2 in the Magok Urban Development Project Special Plan area in Gangseo-gu, Seoul. The site area is 7,520㎡ for DSP1 (total floor area 37,858㎡, 4 basement floors to 4 above-ground floors) and 4,190㎡ for DSP2 (53,408㎡, 4 basement floors to 10 above-ground floors).

The Umi Construction consortium proposed a landmark concept called "The Place," filled with attractions and entertainment. Facilities where visitors can experience a variety of activities, including the "Magok Cafe Street," a museum, a brewery, a zoo, a comprehensive bookstore, and kids' facilities, will be established throughout the streets.

A Umi Construction official stated, "This award was a stepping stone based on Umi Construction's stable operational capabilities demonstrated by the mixed-use commercial space 'Lake Como Dongtan,' which opened in Dongtan New Town in June last year," adding, "Based on proven commercial facility operation know-how, we plan to develop 'Lake Como Magok' (planned), located on the west side of Magok Seoul Botanical Garden, into a new landmark in Seoul."

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