Noryangjin District 1 Receives Management Disposition Approval, Surpassing Key Redevelopment Hurdle

Achievement 20 Years After Designation as a Promotion Zone
All Eight Districts of Noryangjin New Town Complete Management Approval
Resident Relocation to Begin in July

Noryangjin District 1 in Dongjak-gu, Seoul has surpassed the critical hurdle in its redevelopment project by receiving approval for its management disposition plan. This achievement comes 20 years after it was designated as a Financial Improvement Promotion Zone in 2006. With this, all eight districts of the Noryangjin Financial Improvement Promotion Zone have now passed the final stage of the redevelopment process.

According to Dongjak-gu District Office on April 21, the office granted approval for the management disposition plan for the Noryangjin 1 Financial Improvement Promotion Zone on this day.

Perspective rendering of the architectural plan for Noryangjin 1 Financial Rehabilitation Promotion Zone Housing Maintenance-Type Redevelopment Project. Provided by Seoul Metropolitan Government

The first district, which is the largest and regarded as the flagship among the eight districts of Noryangjin New Town, will be reborn as ‘Otiere Dongjak’, featuring POSCO E&C’s high-end brand ‘Otiere’. If the change to the Financial Improvement Promotion Plan is finalized through the Seoul Metropolitan Government’s integrated review, a large-scale apartment complex with 3,103 units is expected to be built. In line with the ‘Plan to Improve Standards for Establishing Financial Improvement Promotion Plans’ announced by the Seoul Metropolitan Government in July last year, the Noryangjin District 1 project is undergoing a process to raise the floor area ratio from the existing 265.6% to 299.33% and to increase the maximum building height from 33 to 49 floors.

Following the public notice, resident relocation is expected to begin in July 2026. The association anticipates that the relocation process will be completed within six months to a maximum of one year.

Since being designated as the second New Town by the Seoul Metropolitan Government in 2003, all eight districts of the Noryangjin Financial Improvement Promotion Zone have received approval for their management disposition plans. Starting with the launch of ‘La Classe Jade Pine’ in District 6 this month, ‘Acro River Sky’ in District 8 will be offered for sale next month. Once redevelopment in all eight districts is complete, Noryangjin New Town is expected to be transformed into a mini new town-scale residential complex with a total of 9,000 units.

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