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Schematic Design Complete for $30B Seoul Project

SEOUL-The Yongsan International Business District will have 66 buildings, including office, retail, multifamily and hotel towers, when it is finished in 2016.

By Robert Carr | Updated on May 04, 2012

SEOUL-Yongsan Development Co. has completed the schematic design for the $30 billion Yongsan International Business District, planned for a former rail yard maintenance station here. When completed in 2016, the 66-building project will include office, retail, multifamily and hotels, as well as a large park the size of New York City’s Central Park.

The massive 66-building project needed 19 architects to handle all of the concept design, completed in December. Now that the schematic design is done, the detail design has begun, a spokesman for Yongsan tells GlobeSt.com. “Considering the massive scale of the project, it is necessary to schedule the program for design and construction over a number of years,” he says. The groundbreaking for construction will start the first half of 2013, he says.

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