Yeongdeungpo District in Seoul is transforming from the city's representative industrial zone into a forest of new apartment buildings through large-scale maintenance projects and reconstruction, establishing itself as a hub in the southwest where residential, commercial, and cultural spaces coexist. In particular, the area around Mullae-dong in Yeongdeungpo District, where major maintenance projects are coming into view, is drawing attention for its location that offers comprehensive transportation, living, and education infrastructure, while also sharing the value of Mok-dong and Yeouido.
On the 24th, according to Real Estate R114, the share of apartments more than 20 years old in Yeongdeungpo District is 68%, higher than the Seoul average of 63%.
New supply in Yeongdeungpo District is lacking. According to Asil, a real estate big data firm, the district's appropriate annual demand is about 1,856 households, but the actual apartments set to move in are only 707 households in 2026, 403 in 2027, and 550 in 2028.
Given the situation, interest in local presale complexes is high. In July last year, "Riverscent Prugio We've," sold in the Yeongdeungpo-dong 5-ga area of Yeongdeungpo District, drew an average first-priority competition rate of 191.35 to 1, marking a strong performance.
At the same time, maintenance projects underway across Yeongdeungpo District are emerging as an alternative to ease the supply shortage. Among the urban maintenance projects underway in Yeongdeungpo, 15 business sites have completed project implementation approval and management disposition approval and have entered full swing. The sites total 536,738 square meters of land area. Once these projects are completed, about 14,000 households will be built across Yeongdeungpo.
Bold administrative support underpins these changes. To reduce the burden on residents and improve project viability, Yeongdeungpo District advanced major制度 reforms, including ▲ raising the floor area ratio for multifamily housing in quasi-industrial zones from 250% to 400% ▲ easing the commercial share requirement in mixed-use residential-commercial buildings in commercial zones from 20% to 10% ▲ aligning public rental housing construction costs with reality ▲ and offering interest-free loans for reconstruction safety inspections.
Among Yeongdeungpo's maintenance business sites, Mullae-dong is attracting strong interest as major projects such as the Mullae Jinju Apartment Reconstruction Maintenance Project and Mullae-dong 4-ga Redevelopment Maintenance Project enter the visible stage.
The Mullae Jinju Apartment Reconstruction Maintenance business site, which will be reborn as POSCO E&C's "The Sharp Priella," will go on sale in March. The complex will consist of six buildings from three underground levels to up to 21 aboveground floors, totaling 324 households. Of these, 138 households with exclusive areas of 44–84 square meters will be offered to the general public. By type: ▲ 44㎡ 14 households ▲ 59㎡ 37 households ▲ 74㎡ 43 households ▲ 84㎡ 44 households, mainly mid-to-small units favored by end users.
Mullae-dong in Yeongdeungpo District, where the complex will be built, offers a "15-minute living zone" with quick access to transportation, education, and daily amenities. Dorimcheon Station on Subway Line 2 is within walking distance, and Mullae Station on Line 2 and Yangpyeong Station on Line 5 are accessible, enabling easy travel to major business districts such as Yeouido, Gwanghwamun, and Gangnam.
Near the complex are green spaces including Anyangcheon, Dorimcheon, Anyangcheon Sports Park, and Mullae Neighborhood Park. Yeongmun Elementary School is a 5-minute walk away, allowing safe commutes to school. Large retail facilities and cultural venues such as Mullae Art Village are also nearby.
The Sharp Priella will be linked with Mullae Hyundai 2nd (439 households), Mullae Hyundai 5th (324 households), and the Daewon Apartment remodeling project (250 households) to form a five-complex, 1,337-household "The Sharp brand town" in the future.
An official at a real estate agency in Yeongdeungpo District said, "Mullae-dong in Yeongdeungpo District is a location that balances transportation, daily infrastructure, and proximity to workplaces, drawing attention from end users," adding, "With limited new apartment supply in Seoul and competitive strength as a brand complex, inquiries about The Sharp Priella have been steady."