The subscription competition rate for the residential complex 'The Parkside Suite' being built on the site of the United Nations Command (UNC) in Yongsan, Seoul, was recorded at 41 to 1.
According to Eleven Construction and Cheongyak Home on the 16th, a total of 1,296 applications were received for 775 units, resulting in an average competition rate of 1.67 to 1. Among them, the 5th group consisting of penthouse types showed the highest competition rate of 41.0 to 1.
The subscription was conducted by dividing it into groups based on exclusive area: Group 1 (53–56㎡), Group 2 (61–69㎡), Group 3 (70–84㎡), Group 4 (94–105㎡), and Group 5 (183–185㎡). Groups 1 and 4, which offer views of Yongsan Park, and Group 5, which is highlighted for its independence and rarity, had high competition rates.
Some types of Group 4 recorded a resident priority competition rate of 10.5 to 1. Group 1 experienced a surge in applications from actual residents, showing a resident priority rate of 6.97 to 1 and a regular rate of 2.55 to 1. Group 2 (resident priority 3.25 to 1, regular 1.14 to 1) and Group 3 (resident priority 2.57 to 1, regular under demand) followed.
The announcement of the winners will be on the 18th, with contracts scheduled for the 20th to 21st at the Gallery in Yeoksam-dong, Gangnam, Seoul.
The site of the United Nations Command (UNC) in Yongsan will be developed as a mixed-use urban development project called 'The Parkside Seoul'. The Parkside Seoul will be created alongside the Rosewood Hotel and retail planning by Shinsegae. The commercial facilities within the complex will be planned and developed by Shinsegae, forming a retail hub that combines high-end food and beverage with cultural content.
The residents-only community will be directly operated by Rosewood Seoul and will include private dining, a hydrotherapy pool, and a golf room. Global finishing materials such as Molteni Dada kitchens, Miele and Dietrich appliances, Schüco windows, Italian tiles, and Kohler and Toto bathroom fixtures will be applied to all units. Smart systems, including artificial intelligence (AI) robot value services, cleaning, security, delivery robots, and an integrated town app, will also be introduced.