Knowledge Industry Center 'Magok I-Park Dearban' Promotion Hall Opens on the 18th

- Development Progress in Magok District Area
- Normalization of Development for CJ Factory Site

Products with high future value have always been popular in the real estate market. As transportation and development progress, it becomes possible to purchase undervalued properties, making rental income or capital gains worth anticipating.

In particular, expectations for the real estate market in the Magok district of Seoul have been rising recently due to ongoing development in the area. A large-scale MICE (Meetings, Incentives, Conventions, and Exhibitions) complex combining various uses such as office facilities, hotels, convention centers, and cultural facilities is being established.

In fact, next year, the CP2 block of the Magok MICE project is scheduled to be completed. Besides office facilities, COEX will lease and operate the CP2 block for 10 years, including the 'Second COEX' and 'COEX Magok Le West.'

The development of the CJ factory site in Gayang-dong, Gangseo-gu, near the Magok district, is also expected to normalize. According to industry sources, Inchang Development plans to start construction and sales of the knowledge industry center and other development projects on the CJ factory site in Gayang-dong, Gangseo-gu, Seoul, in June next year. On October 10, Jin Gyo-hoon, the mayor of Gangseo-gu, approved the first permit for part of the Gayang-dong CJ factory site development. This project involves building a knowledge industry center, retail facilities, and cultural assembly facilities on an 112,587㎡ semi-industrial area in Gayang-dong, Gangseo-gu, Seoul.

An industry insider said, "As development in the Gangseo-gu area accelerates, synergy effects are expected to emerge," adding, "If you do not purchase future value now, it may be difficult to approach at a higher price later."

Consequently, the first knowledge industry center in the Magok district, 'Magok I-Park Dearban,' announced its opening on the 18th (Monday). It will be built in Magok-dong, Gangseo-gu, Seoul, with a total of 206 units spanning from five basement floors to 11 above-ground floors, covering approximately 72,000㎡ of total floor area. Of these, 118 units will be sold, excluding 88 rental units. It is expected to have excellent product competitiveness in an optimal location, consistent with the I-Park brand image.

The complex is the first knowledge industry center located in the Magok district, a mega office town with a total floor area of about 3.66 million square meters. Accordingly, by 2027, 199 companies, including large corporations' R&D centers such as LG, Kolon, Lotte, and Nexen, which have already moved in nearby, are expected to be located here (based on the Magok industrial complex sales status as of last May).

'Magok I-Park Dearban' also benefits greatly from the nearby MICE complex development. It will be built as a mega complex facility with a total floor area of 820,000㎡, about twice the size of COEX in Samseong-dong, and will serve various functions such as exhibitions, conventions, tourism, shopping, and culture. As development improves the working environment and increases the area's value, the future value of the knowledge industry center is also expected to rise.

'Magok I-Park Dearban' secures natural lighting through a courtyard structure and features an open landmark connected by an 11th-floor bridge, with a building-to-land ratio of about 59%. It also includes green roads where external and internal greenery interact, creating a pleasant working environment. Additionally, it will offer various optimized spaces for tenants, such as a sunken plaza, multipurpose hall, Fifties, community yard, and Edu Stair.

Spaces designed to enhance the work efficiency of tenant companies will also be created. Shared spaces such as a promotional exhibition room, maker space, and common conference rooms are designed to foster coexistence, expecting synergy effects not only within but also among tenant companies.

Moreover, 'Magok I-Park Dearban' boasts an optimal location for global business reaching beyond Korea. It is within walking distance of Yangcheon Hyanggyo Station on Subway Line 9, Balsan Station on Line 5, and Magoknaru Station on the Airport Railroad, with Olympic-daero nearby, facilitating easy access to Seoul and metropolitan downtown areas. Via Gonghang-daero, accessibility to Gimpo Airport and Incheon International Airport is excellent, making travel convenient domestically and internationally.

Meanwhile, the sale price of 'Magok I-Park Dearban' is expected to be reasonably set compared to market prices, making financing relatively easy. Tenant companies can receive up to a 35% reduction in acquisition tax and property tax until December 31, 2025. Additionally, loans of up to 80% of the sale price are available, and if conditions are met, low-interest loans (at the base interest rate level) can be obtained from the Small and Medium Business Corporation and some city and provincial foundations.

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