HDC Hyundai Development Company stated on the 27th that it has proposed a continuous compound development model for the Yongsan Maintenance Center Zone 1 redevelopment project.
HDC Hyundai Development Company has expressed its ambition to maximize additional profits for members through collaboration that includes SMDP (architectural design), LERA (structural design), Samsung C&T's resort division (landscaping), CBRE (commercial real estate consulting), LPA (landscape lighting), and Park Hyatt (hotel) in Yongsan Zone 1, realizing a landmark beyond Yongsan and maximizing sales revenue.
Additionally, by proposing HDC Yongsan Town and showcasing a developer model through direct connections with HDC Group’s affiliates such as Hotel HDC and HDC I-Park Mall, it has significantly enhanced the value of the redevelopment project, offering hotel-style amenities and customized town management services for residents, taking into account the period after moving in.
HDC Hyundai Development Company has secured the development rights for the underground space of the Yongsan Station front park using the BTO (revenue-based private investment project) model as a developer. This is a large-scale project that connects subway lines 1, 4, and the Shinbundang Line, as well as the Metropolitan Express Transit (GTX)-B, developing the underground area of the Yongsan Station front park, with plans to operate it directly for 30 years, realizing Yongsan Town management.
The strategy to increase local value by leveraging the 240,000 daily visitors to HDC I-Park Mall is linked to HDC Yongsan Town and is expected to expand in the future to the international business district, becoming a core axis that maximizes asset value across Yongsan, according to HDC Hyundai Development Company.
An official from HDC Hyundai Development Company noted, "The key to the redevelopment project lies not only in developing the complex but also in enhancing the quality of life and designing the future of the city," adding that "HDC Hyundai Development Company plans to lead a new model for redevelopment projects by proposing a paradigm that takes responsibility from development to operation as an urban developer beyond the framework of a construction company."