Customized for Actual Demand, ‘Hyundai Terra Tower Sema Station’ Draws Attention

[Hyundai Terra Tower Sema Station Perspective View]

As the frenzy surrounding knowledge industry centers, which were once highly popular as income-generating real estate, begins to subside, the market atmosphere is changing. This is attributed to a decrease in demand due to factors such as "oversupply," "economic recession," and "high interest rates."

However, the industry points out a more important issue: in recent years, the knowledge industry center market has been supplied mainly with products that do not reflect the needs of actual end-user companies. The analysis suggests that similar products have been supplied indiscriminately, chasing only profitability and trends, which led to the neglect of the real demand base.

In fact, over the past few years, knowledge industry centers have been supplied with standardized products focused on small-scale units such as section offices and business-type spaces. This is interpreted as an effort to maximize profitability for suppliers and investors and to reflect trends.

A real estate expert said, "Such supply products are largely unrelated to manufacturing and logistics companies, which form the demand base for knowledge industry centers, or to large companies considered prime tenants. As a result, companies that actually need to move in have gradually stopped seeking knowledge industry centers, leading to increased vacancies, declining yields, and a vicious cycle of investors withdrawing."

Due to this phenomenon, it has become difficult to find new knowledge industry centers focused on manufacturing or logistics types in Seoul and the metropolitan area at some point.

A representative example is the southern metropolitan area, where the semiconductor cluster construction has recently been accelerated. Real estate insiders report that there is a severe shortage of new knowledge industry centers focused on manufacturing in areas such as Namsa-eup, Yongin, which has emerged as a core of the semiconductor cluster, as well as Dongtan 2 New Town.

The scarcity caused by the shortage of manufacturing and logistics-type knowledge industry centers in the southwestern metropolitan area is expected to increase further. This is because Samsung Electronics plans to start early construction next year, one year ahead of schedule, for the Yongin system semiconductor cluster, in which it is investing 360 trillion won. As the world's largest semiconductor cluster development project, it is expected that corporate demand will explode accordingly in the future.

In response to this situation, there is a trend in the knowledge industry center market to redefine design and marketing perspectives centered on companies that actually want to move in. Moreover, some complexes are achieving good results, contrary to the overall market downturn.

For example, a knowledge industry center announced for supply earlier this year in Seongnam Industrial Complex applied customized designs to meet the needs of real companies in the industrial complex area and conducted marketing activities focused on these companies, rapidly increasing the contract rate. In fact, this knowledge industry center surpassed a 55% contract rate in about four months, becoming a hot topic in the industry.

Also, in Osan City, 'Hyundai Terra Tower Sema Station,' supplied by Hyundai Engineering, has introduced a large number of specialized designs related to manufacturing-type complexes. This has attracted manufacturing companies based on the semiconductor industry not only in Osan but also in nearby Dongtan and Yongin, leading to ongoing contracts, according to investigations.

In fact, Hyundai Terra Tower Sema Station applied designs that enhance logistics mobility, such as drive-in and door-to-door (except some) systems, a wide ramp width of about 7.5 meters (except some), and installed two freight elevators capable of handling loads up to 5 tons. The industry evaluates that these high-load specialized designs and product configurations reflect the needs of related end-user companies throughout the complex.

Meanwhile, as complexes that have started to change by identifying real demand needs attract attention, the industry expects the polarization phenomenon of knowledge industry centers to deepen further.

A real estate expert said, "The core of knowledge industry centers is securing prime tenants and real corporate demand. Therefore, even during market downturns, attention is focused on knowledge industry centers that are quickly adapting to changes, and they are expected to operate well without vacancies in the long term." He added, "Especially since interest rate cuts are expected to begin in earnest starting with the United States next month, the domestic real estate market and economic recovery are also expected to accelerate, bringing positive changes to the knowledge industry center market."

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