SEOUL, Nov. 21 (Korea Bizwire) – An increasing number of officetels – South Korean high-rises that are home to multi-purpose residential units – are getting the luxury treatment amid growing competition to attract residents.
From gyms, guesthouses, and screen golf facilities to conference rooms, construction companies are ramping up efforts to build recreation facilities to create a better community in officetels, a trend that has been well-received in South Korea in recent years.
According to industry sources on Monday, officetels that offer a wide range of communal recreation facilities are proving popular.
Daemyung Construction’s Daemyung Valion near Bupyeong-gu Office Station was sold out after being put on the market back in February.
The 20-story officetel boasts a number of recreation facilities including a ‘sky community’ on the top floor that consists of a gym and a rest area, as well as a private storage room, meeting the demands of potential residents in recent years who are increasingly seeking a multi-purpose community from the unique South Korean-style residential buildings.
GS Engineering & Construction is following the trend as the company is introducing a ‘Sky Cube’ at its Dasan Xi Ivy Place, which will be a compound consisting of multi-purpose residential buildings with communal facilities open to all residents.
Dasan Xi Ivy Place, which has now sold out, attracted over 18,000 applicants for only 270 units when sales began in September.
ShinYoung Engineering & Construction’s newly constructed Young Town Gwell Estate in Shinchon also attracted attention from buyers over a wide range of recreation facilities in the building, ranging from a rest area on the first floor to a rooftop garden on the top floor.
In addition, ShinYoung’s new officetel comes with rare indoor sports facilities such as an indoor climbing gym, a regular gym, a library, a meeting room and a bicycling parking station, reflecting the latest trends in the housing market.
“As officetels strive to attract residents amid stiff competition, community facilities in are getting the luxury treatment,” said Kwon Kang-soo, a director at Korea Establishment Realty Agent.
Daewoo E&C is expected to build a large-scale fitness center covering an area of more than 600 square meters as well as a golf driving range at its Gasan Central Prugio City, which is currently on the market.
Ashley Song (email@example.com)