Increased Outdoor Activities Boost Park Demand... 'Yeongheung Park Prugio Parkbien' On-Site Commercial Space Attracts Attention

- Foot Traffic Continues at Large Park... Thriving Commercial Area with Abundant Flow of People, Nearby Store Sales Up
- ‘Yeongheung Park Prugio Parkbien’ Complex Shops Featuring Yeongheung Forest Park Spanning Approximately 500,000㎡

With the recent lifting of indoor and outdoor mask mandates and a surge in visitors, commercial areas near large parks are rapidly gaining attention. This is because a substantial flow of people gathers regardless of weekdays or weekends, naturally translating into demand for nearby shops.

In fact, an analysis of the Dongtan Central Park 1 (approximately 370,000㎡) commercial district in Hwaseong-si, Gyeonggi-do, conducted by the Small Business Plaza on the 7th of this month, showed that the average daily foot traffic at 30 convenience stores in the area was 167,082 people. This is the highest figure since January last year. Along with this, the average monthly sales and number of transactions increased by 20.9% and 28%, respectively, compared to the previous month.

The number of stores in commercial districts near large parks is also rapidly increasing. According to the Seoul City Commercial District Analysis Service, the number of stores in the Seoul Forest Cafe Street commercial district, located in front of Seoul Forest in Seongdong-gu, Seoul (approximately 480,000㎡), was 134 in the fourth quarter of 2022, which is 7 more than the previous quarter and 29 more than the same quarter last year. Additionally, the number of stores in the Gunja Station commercial district adjacent to Children’s Grand Park (approximately 530,000㎡) in Gwangjin-gu, Seoul, also increased by 12 compared to the same quarter last year.

Industry experts explain that since the COVID-19 pandemic, demand for comfortable spaces to enjoy rest and leisure activities has increased, significantly boosting the preference for shops surrounding parks. As foot traffic in these areas rises, short-term commercial district revitalization and stable sales can be expected. Especially recently, as consumers’ outdoor activities have become more active, the strength of commercial areas around large parks has become even more pronounced.

Amid this trend, Daewoo E&C is conducting a public bidding for commercial spaces within the ‘Yeongheung Park Prugio Parkbien’ apartment complex, located inside Yeongheung Forest Park, which spans about 500,000㎡.

Yeongheung Forest Park is roughly the size of 70 soccer fields, and inside the park, various facilities such as walking trails, sports facilities, observation decks, and forest playgrounds will be established. Additionally, the Yeongheung Arboretum, covering about 140,000㎡ and surrounded by Yeongheung Forest Park, is scheduled for a temporary opening in early April (with an official opening in May). The arboretum will feature educational facilities for children, including ecological and exhibition forests and experience classrooms, as well as healing walking courses for families, attracting large crowds on both weekdays and weekends.

The previously sold Yeongheung Park Prugio Parkbien complex also gained attention as a ‘park-access’ complex embracing a large park and succeeded in attracting high interest. Therefore, the commercial spaces within the complex are expected to secure a fixed demand base from the 1,509 households residing there. Given its rare location that can monopolize the demand inside and outside the complex, it is anticipated to continue the apartment complex’s popularity.

Meanwhile, the commercial area consists of 3 buildings with a total of 37 units, offering a variety of exclusive areas ranging from 23 to 156㎡. Move-in will begin in June this year.

This content was produced with the assistance of AI translation services.