An international brand hotel, the Hyatt hotel, will open for the first time in Nongseong-dong, Seo District, Gwangju. From 2030, Hyatt will operate about 200 rooms in a high-end mixed-use residential and commercial complex for 20 years.
According to the real estate development industry on the 4th, project developer SJG signed a main contract with Hyatt Hotels International Holdings at 9 a.m. at the Andaz Hotel in Apgujeong, Seoul, for the "hotel entry for the Nongseong-dong, Gwangju mixed-use development project."
Under the contract, Hyatt will operate a 4-star hotel with a total of 186 rooms, including suites, for 20 years starting in 2030. Gwangju, which had long struggled with the absence of a luxury hotel, has secured core infrastructure to capture international business and high-income tourism demand with the arrival of Hyatt.
The Nongseong-dong, Gwangju mixed-use development project will build a four-tower complex with four underground levels and 40 above-ground floors on the 13,313㎡ site of the La Festa Wedding Hall at 393-72 Nongseong-dong, Seo District, Gwangju. The total estimated project cost is about 650 billion won, and the expected construction cost is 9.9 million won per 3.3㎡.
The complex will consist of three apartment towers (300 households) and one office tower. The apartments are primarily medium to large units ranging from 84㎡ to 193㎡ of exclusive area. In particular, it features specialized designs such as duplex layouts and super penthouses to target the local asset-owning class.
D Construction is reviewing participation as the builder. The plan under review is to apply D Construction's high-end brand to build high-end apartments with a skyline reaching a building height of 140 meters.
The complex's greatest strength is the combination of residential and hotel services. Amenities for Hyatt will be placed on floors 1 through 5 above ground, and guest rooms on floors 6 through 19. Residents will be able to enjoy services provided by a 5-star hotel, including breakfast service, laundry, and guesthouse management.
SJG plans to secure project funds by executing a 550 billion won project financing (PF) loan from Meritz Securities in March. If construction starts in September, a new landmark mixed-use residential complex representing Gwangju is expected to be completed in Oct. 2030.
An SJG official said, "Given how strong the thirst for brand-name hotels has been in Gwangju, the confirmation of Hyatt's entry means more than a mere residential complex," and added, "We also plan to promote a project that links the on-site hotel with a wedding hall for newlyweds."