Seoul's Dongjak District said on the 29th that it will sell the former Noryangjin government office site to the private sector and develop it into a mixed-use complex with residential, educational, commercial, and cultural functions.
Dongjak District on 26th signed an agreement with IMM Investment and Simone Asset Management (IMM consortium) on the sale of the Noryangjin government office site.
Dongjak District and the IMM consortium plan to make the former government office site a landmark of Dongjak District. After development, the site will house high-end residential facilities and retail space, and there is also a plan to attract an international school.
The IMM consortium will provide 6,397 square meters (about 1,940 pyeong) within the new building to Dongjak District through contributed acceptance. Dongjak District will use this space for residents.
District Chief Park Il-ha said, "This agreement is not an asset sale but the first step to opening Dongjak's next 100 years," adding, "We will do our best to build a city that residents feel proud of and that draws the world's attention."
Dongjak District built a new government office near Jangseungbaegi Station on Seoul Subway Line 7 in Sangdo-dong and completed move-in in Jul. The building has three basement levels and 10 above-ground floors, and from the first basement level to the fifth floor above ground it is built with a central courtyard that is open in the middle. Two slides 15 meters tall running from the second floor above ground to the first basement level have been installed, drawing residents' interest. The slides are free to ride after putting on protective gear. A food court is located on the first basement level.