Luxury Residential Complexes in Dongdaemun-gu Take Shape, 'Cheongnyangni' and 'Imun·Hwikyung' Lead the Way

Cheongnyangni High-Rise Residential Complexes Move In One After Another
About 15,000 Households Developed in Imun and Hwikyung New Towns
GTX, Hongneung Bio Hub Valley and Other Boons Abundant

[Asia Economy Reporter Cha Wanyong] Seoul's Dongdaemun-gu is on the verge of transforming into a luxury residential district. The area around Cheongnyangni Station, where numerous super high-rise residential-commercial complexes have been built, is now seeing full-scale move-ins, and the Imun-Hwigyeong New Town, which will accommodate about 15,000 households, is set to begin sales next month, making the development more tangible.

According to the real estate industry on the 24th, the "four major residential-commercial complexes" in Cheongnyangni are consecutively holding move-in ceremonies. "Cheongnyangni Harrington Place" recently began move-ins, followed by "Cheongnyangni Station Hanyang Sujain Graciel," "Cheongnyangni Station Lotte Castle SKY-L65," and "Hillstate Cheongnyangni The First," which will sequentially start move-ins. All of these complexes are over 40 floors tall, and once they are occupied, the skyline of the area is expected to change dramatically.

A large-scale residential town is being developed in Dongdaemun-gu, Seoul

Cheongnyangni is currently advancing plans for the metropolitan area express railroads (GTX) B and C lines, and at the same time, a complex transfer center is being constructed, positioning it to become a transportation hub in northern Seoul.

Real estate offices around Cheongnyangni said, "Although GTX completion will take some time, the symbolic high-rise complexes are already built, which will increase the area's value," adding, "In addition, redevelopment projects such as Miju Apartments and Cheongnyangni District 7 are underway, which will further improve residential conditions."

Located about 1.5 km northeast of Cheongnyangni Station, the Imun-Hwigyeong New Town will form a large-scale residential town. The Imun-Hwigyeong New Town is a redevelopment project of housing around Line 1 stations from Hoegi Station to Hwigyeong Station and Sinimun Station, with a total of about 15,000 households planned.

First, Hwigyeong District 1 (Hwigyeong Haemoro Prestige) and District 2 (Hwigyeong SK View) have completed move-ins, and in March this year, GS Construction will launch sales of "Hwigyeong Xi Decencia" in Hwigyeong District 3. The total is 1,806 households, of which 700 units sized 39 to 84㎡ will be available for general sale.

Next, branded apartments are planned to be supplied within this year in Imun-dong at Imun District 1 (Samsung C&T) and Imun District 3 (HDC Hyundai Development Company and GS Construction). Recently, Imun District 4 also received project implementation approval, surpassing the redevelopment project's 80% completion milestone.

Real estate info research team leader Kwon Il said, "The country's top construction companies are undertaking the projects, and as the new town is developed, infrastructure will also improve," adding, "Since Hoegi Station and Cheongnyangni Station are only one stop apart, the benefits from the development around Cheongnyangni can be directly enjoyed."

Additionally, Dongdaemun-gu is rich in positive factors such as the creation of the "Hongneung Bio Hub Valley." Seoul City and Dongdaemun-gu are currently working on the Hongneung R&D (Research and Development) Support Center and Advanced Medical Device Development Center projects, and this year, they are pushing for the designation of the "Hongneung Bio-Medical Special Development Promotion District." Surrounded by major universities such as Korea University, KAIST, Kyung Hee University, and Hankuk University of Foreign Studies, it is evaluated as having smooth industry-academia-research cooperation.

Moreover, the undergrounding of the Dongbu Expressway has passed Seoul City’s review, significantly shortening access to Gangnam. According to Seoul City, once the underground road opens, travel time from Wolreunggyo in Nowon-gu to Daechi-dong in Gangnam-gu is expected to be reduced from about 30 minutes to around 10 minutes, which is anticipated to benefit Dongdaemun-gu as well. Furthermore, the Imun Vehicle Depot (200,000㎡), spanning Seongbuk-gu and Dongdaemun-gu, is also planned to be developed into residential, commercial, and office spaces.

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