The Upcoming Noryangjin New Town 'Cheonjigaebyeok'... 5th District Also Passed the Final Hurdle

Dongjak-gu Office Approved Management Disposal on 25th Last Month
Final Puzzle 1 District Also About to Select Construction Company
Location Advantage Big, Major Construction Brands Compete

Noryangjin 5 District in Dongjak-gu, Seoul has received the management disposition approval, the final hurdle before relocation and demolition. Among the eight districts of Noryangjin New Town, five districts have passed the critical 90% milestone of the redevelopment project, and with the construction company bidding for District 1, known as the 'last puzzle,' approaching, expectations are rising that the area will undergo a dramatic transformation.

View of the Noryangjin redevelopment site in Seoul from the 63 Building observatory. Photo by Hyunmin Kim kimhyun81@

According to the maintenance industry on the 8th, Dongjak-gu approved the management disposition plan for Noryangjin 5 Redevelopment Promotion District (38,017㎡) around 270-3 Noryangjin-dong last month on the 25th. It has been 14 years since it was designated as a maintenance district in 2009.

Management disposition approval is the final administrative procedure that the association must obtain from the city or district office in a redevelopment project. Since relocation, demolition, and construction follow, it is considered the 90% milestone of the redevelopment project. The association plans to start relocation in the first half of next year, begin construction in 2026, and sell 282 households to the general public.

Noryangjin 5 District will be reborn as an apartment complex with a maximum of 29 floors and a total of 727 households through redevelopment. The construction company is Daewoo E&C, and the complex name has been decided as 'The Summit The Tresia.'

With Noryangjin 5 District passing the 90% milestone of the redevelopment project, the Noryangjin New Town project, which develops a total of eight districts (738,000㎡) in the Noryangjin and Daebang-dong area, is expected to gain momentum. Districts 2, 4, 6, and 8 have already received management disposition approval. Among them, Districts 2, 6, and 8 are undergoing relocation and demolition. Districts 3 and 7 are in the process of obtaining management disposition approval.

District 1, the slowest but largest in scale in Noryangjin New Town, has also started the construction company selection process. The bidding announcement was made on the 4th of last month, and bidding is scheduled for next month.

Located in the southwest of Seoul, Noryangjin is an area that benefits from proximity to the three major business districts: Gwanghwamun, Yeouido, and Gangnam. Upon completion of the New Town, approximately 9,000 households will form a mini new city, attracting significant interest from prospective buyers and investors. A maintenance industry official said, "Noryangjin has considerable locational advantages, so construction companies are competing fiercely with high-end brands. Among them, District 1 is the largest in scale, so major construction companies will compete intensely."

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