Sale of Small Apartment Alternative Residential Officetel ‘Hillstate Jang-an Central’

6 Basement Floors to 20 Above Ground, Total 369 Units with Exclusive Area 38~78㎡
Fast Transportation Network via Dongbu Expressway... Various Transportation Development Benefits
On-site Commercial Facility 'Hills Avenue Jang-an Central' Sold Out

'Hillstate Jang-an Central' perspective view.

[Asia Economy Reporter Kangwook Cho] Hyundai Engineering & Construction announced on the 6th that it is currently selling the residential officetel "Hillstate Janghan Central," located at 366-7 Jangandong, Dongdaemun-gu, Seoul.

"Hillstate Janghan Central" consists of a total of 369 units, ranging from 38 to 78㎡ in exclusive area, with 6 basement floors and 20 above-ground floors. The residential officetels are located from the 3rd to the 20th floor, while neighborhood living facilities are situated from the 1st basement floor to the 2nd floor above ground. By exclusive area, there are △38㎡ A, B, C (some with lofts) with 72 units, △57㎡ A, B (some with lofts) with 36 units, △59㎡ A, B, C, D, E, F (some with lofts) with 126 units, and △78㎡ A, B with 135 units. As a residential product substituting small apartments, it is attracting high interest from newlyweds and people in their 20s and 30s.

The residential officetel "Hillstate Cheonggye Central," which was sold in February and is scheduled for move-in in May 2024, attracted 6,640 applicants for 522 units, recording a high competition rate of 12.72 to 1 and was fully subscribed in all types. Located in the heart of Seoul and possessing product qualities comparable to small apartments, the brand complex received strong demand, and similarly, the newly introduced Hillstate Janghan Central is also gaining attention from buyers.

Rapid Transportation Network via Dongbu Expressway... Access to Janghanpyeong Station and Myeonmok Line Light Rail Benefits

Near Hillstate Janghan Central, there is a wide-area transportation network using the Internal Circulation Road and Dongbu Expressway, making it convenient to use both private cars and public transportation. Using these major arterial roads allows easy access throughout Seoul.

Also, within about 1 km radius, Janghanpyeong Station on Subway Line 5 can be used to travel directly to Gwanghwamun and Yeouido without transfers, and major business districts such as City Hall (24 minutes) and Gangnam (31 minutes) can be reached within approximately 30 minutes. Transportation benefits are also planned. According to the "2nd Seoul Metropolitan City Urban Railway Network Construction Plan," approved by the Ministry of Land, Infrastructure and Transport in December last year, the Myeonmok Line will connect Cheongnyangni Station, Jangandong, and Sinnnae Station, with construction targeted to be completed by 2030.

Convenience Facilities Concentrated in Jangandong Main Commercial Area... Pleasant Residential Environment Adjacent to Jungnangcheon Stream

Hillstate Janghan Central is located in the main commercial area of Jangandong, a major urban zone, so it is surrounded by abundant living infrastructure. Within walking distance, residents can easily access various convenience facilities such as the Art Malling Janghan branch, Lotte Cinema Janghan branch, Lotte Department Store Cheongnyangni branch, Samyook Seoul Hospital, and Homeplus Dongdaemun branch.

Regarding educational facilities, within a 1 km radius, there are many elementary, middle, and high schools including Jangpyeong Elementary, Eunseok Elementary, Dongdap Elementary, Anpyeong Elementary, Jangpyeong Middle, Dongguk University High School affiliated middle and high schools, and nearby are Huigyeong Girls' Middle and High Schools as well as the University of Seoul, providing excellent educational conditions.

A sports park stretches along Jungnangcheon Stream, located just a 5-minute walk from the complex, offering outdoor swimming pools, foot volleyball courts, basketball courts, and other sports facilities. Additionally, there are abundant green spaces such as Jangpyeong Neighborhood Park, Janghan Neighborhood Park, Dapsimni Park, and Baebongsan Dullegil, allowing residents to enjoy leisure activities comfortably within the city.

Convenience Expected to Improve with Various Transportation Developments... Anticipated Increase in Jangandong's Future Value

The Dongdaemun-gu area where Hillstate Janghan Central is located has various development projects planned, promising high future value.

First, the "Dongbu Expressway Underground Project" will begin construction this year and is scheduled to open in 2026, significantly improving the transportation network. This project involves constructing a deep four-lane road tunnel over a 10.4 km section from Wolreung IC to Yeongdong-daero (in front of Gyeonggi High School), expanding the Dongbu Expressway from 6 lanes to 8 lanes, separating long- and short-distance traffic, and undergrounding the road, which has frequently experienced congestion and flooding during heavy rains.

Once the Dongbu Expressway underground project is completed, travel time from Wolgye to Gangnam, which used to take about 30 minutes, will be reduced to around 10 minutes, and chronic traffic congestion is expected to be resolved. Furthermore, the area around Jungnangcheon Stream, after removing the surface road, will be reborn as an eco-friendly waterfront space approximately 10 times the size of Yeouido Park.

Additionally, the opening of the Metropolitan Area Express Railway (GTX) is anticipated. From Janghanpyeong Station, it will be possible to reach Cheongnyangni Station, where GTX B Line (scheduled to start construction in 2022) and C Line (scheduled to start construction in 2021) pass, within four subway stops, allowing residents to benefit from transportation improvements. Upon opening, GTX B and C Lines will greatly enhance accessibility to major business districts such as Yeouido, Dongtan in Gyeonggi, and Songdo in Incheon.

Residential Officetel with Facilities Comparable to Apartments... Less Impact from Subscription and Loan Regulations

Hillstate Janghan Central also offers excellent product quality under the Hillstate brand, which is ranked number one in apartment brand power and promotes itself as a "Lifestyle Leader."

The 38㎡ units are designed with one bedroom, a living room, and a kitchen. The 57 to 59㎡ units consist of two bedrooms, a living room, and a kitchen. The 78㎡ units feature three bedrooms, a living room, a kitchen, and a large dressing room. Especially, all types from 59 to 78㎡ are designed with a slab-type structure commonly seen in general apartments, facilitating natural lighting. Some units of each type have loft structures to maximize openness and space utilization, and all units include dressing rooms to enhance storage space.

Community facilities include a fitness center and a library, and residents can relax in park-style plazas and rooftop gardens without leaving the complex.

Inside the units, the "2021 Post-COVID Space Solution" is applied to protect residents from COVID-19. The entrance (application varies by unit size) will feature a "Safe Clean Zone" package, including △hand sanitizer and mask storage space △robot vacuum cleaner storage space △built-in cleaner △clothing care device (optional) △air shower (optional), transforming it into a hygiene station. The design also reflects changes in daily life due to COVID-19. The kitchen (in 57㎡ and 78㎡ units) includes an island table for cooking and dining, allowing residents to safely enjoy small home parties with friends. The master bedroom (in 57 to 59㎡ units) is equipped with storage cabinets and a workspace, enabling separation from living spaces for home office use during telecommuting.

Since these units are supplied as officetels, they have the advantage of being relatively free from regulations compared to apartments. Anyone aged 19 or older residing in South Korea can apply for subscription regardless of whether they have a subscription savings account, residency restrictions, or home ownership. This makes it attractive to real demand buyers in their 20s and 30s who generally have lower subscription scores. Additionally, loan regulations and tax burdens are lower than for apartments, leading to many inquiries from real demand buyers looking for alternatives to small apartments to own their homes.

Commercial Facility ‘Hills Avenue Janghan Central’ Sold Out... Linked with Already Active Central Commercial Area

The commercial facility within the complex, "Hills Avenue Janghan Central," has been sold out amid great interest. It consists of 85 stores from the 1st basement floor to the 2nd floor above ground.

This commercial facility is located in the already active central commercial area of Jangandong, Dongdaemun-gu. Centered around the Jangandong intersection, there are residential complex commercial areas, officetel commercial areas, and "Taste Street" commercial areas. It is expected to be located adjacent to the "Jangandong Taste Street," naturally attracting foot traffic from existing commercial areas.

There is also a residential demand base of over 12,000 households in Jangandong. It secures fixed demand from residents within the complex and has abundant demand from many villas, houses, and large apartment complexes in Jangandong, such as Janghan Hyundai Hometown Phase 1 (2,182 households), Janghan Samsung Raemian Phase 2 (1,786 households), Janghan Hillstate (859 households), and Janghan Samsung Raemian Phase 1 (558 households).

To maximize the influx of foot traffic aiming to use Janghanpyeong Station and the central commercial area, the commercial facility is designed as an open-type shopping street along the main road. The open-themed design on the 1st and 2nd floors continues from Janghan-ro to the rear plaza, optimized for pedestrian flow.

A Hyundai Engineering & Construction official said, "Hillstate Janghan Central is located at the very center of Jangandong, Dongdaemun-gu, adjacent to various commercial areas and convenience facilities, and has floor plans comparable to small apartments, enabling convenient living. Due to the government's strengthened real estate regulations, residential officetels are relatively free from restrictions compared to apartments, which is attracting interest from buyers in Hillstate Janghan Central."

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