Lotte Construction Officially Launches Incheon Geomam Placia Complex Transfer Center Project
Perspective View of Geomam Placia Complex Transfer Center Complex Development Project
View original imageOn the 25th, Lotte Construction (IBK Consortium) announced that it signed a business agreement with Incheon Urban Corporation at the Holiday Inn Incheon Songdo Hotel in Songdo-dong, Yeonsu-gu, Incheon, for the 'Geomam Placia Complex Transfer Center Complex Development Project.' The consortium consists of eight corporations, including Lotte Construction, KT, GS Retail, IBK Investment & Securities, and Daishin Securities.
This project is a large-scale development with a site area of approximately 94,000㎡ and a total project cost of about 1.49 trillion KRW, developing a complex space that includes transportation, commercial, office, and residential facilities. After going through permits and other procedures, construction is planned to start in the second half of 2024 and be completed in the first half of 2028.
Located in the northwest metropolitan area, it offers easy access to the wider region and is situated in a station area adjacent to Geomam Station on the Airport Railroad and Incheon Subway Line 2. Lotte Construction (IBK Consortium) plans to maximize the geographical advantages by linking this complex transfer center with the newly built bus terminal, transforming it into a 'Smart Hub,' a key point in the regional transportation network.
A Lotte Construction official said, "We have formed a consortium with experience and know-how in successfully executing large-scale complex development projects," adding, "We will do our best to ensure that the Geomam Placia Complex Transfer Center Complex Development Project becomes the best landmark complex in collaboration with Incheon Urban Corporation."
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Meanwhile, the signing ceremony was attended by Lotte Construction CEO Ha Seok-ju, Incheon Urban Corporation President Lee Seung-woo, and other key officials from both companies.
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