Daishin Asset Trust said on the 2nd that it received notification from the Yangcheon District Office designating it as the project implementer for the reconstruction of Mok-dong Complex 13. It became the first among the 14 Mok-dong reconstruction complexes to proceed with the project under a trust structure.
Daishin Asset Trust noted that, after reviewing the documents, the Yangcheon District Office found it sufficiently met the legal qualification requirements and project execution capability, and that the consent rates of land and land area owners also met the statutory standards, leading to the final approval.
The Mok-dong Complex 13 reconstruction and maintenance project will create a large-scale apartment complex of 3 underground floors to 49 aboveground floors, totaling 3,852 households in 25 buildings, on a site of about 156,338.20 square meters (47,290 pyeong) at the Mok-dong Complex 13 apartment site in Sinjeong-dong, Yangcheon District. Daishin Asset Trust said the 1980s residential complex will be reborn as a state-of-the-art residential complex through the reconstruction.
Mok-dong Complex 13 is adjacent to Yangcheon-gu Office Station on Subway Line 2 and Mok-dong Station on Line 5, offering excellent access to downtown Seoul, Yeouido and the Gangnam area. Nearby are the Mok-dong private education district, large commercial facilities and the Anyangcheon riverside park, providing a well-rounded mix of education, daily living and natural environment.
Kim Song-gyu, CEO of Daishin Asset Trust, said, "Mok-dong Complex 13, as the first project site under the trust-based model for the Mok-dong New Town reconstruction, has symbolic significance and has put the reconstruction on a full-fledged track," adding, "We will spare no administrative support so that future steps, including approval of the management and disposition plan, groundbreaking and move-in, proceed smoothly."