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naturally different office towers restaurants mall hotel & spa
Air view
About Parc.1 Parc.1 (www.parc1.com) is a mixed-use commercial development that will, when it opens in 2012, be the country’s most prestigious address for companies, international brand-name shops and the biggest variety of quality restaurants. Located on the edge of Seoul’s finest park, it will be the first world-class property of its kind in Korea – hence the brand, Parc.1. Designed by one of the world’s greatest architectural practices, the Rogers Stirk Harbour + Partners, Parc.1’s market positioning will be on the level of Hong Kong’s Pacific Place, its landmark tower comparable to Shanghai’s Grand Hyatt, and its retail design and quality of the standard of the U.K.’s Bluewater. Parc.1 will become a symbol of Seoul’s growing international prestige. The 4.6-hectare site is easily accessible from Seoul by three major bridges and two subway lines. The development comprises two gleaming, modern towers anchoring the architectural design and surrounded by retail businesses and outdoor meeting spaces. It will include a premium galleria mall, one international hotel, state-of-the-art office space, ultra-modern architecture, public access spaces and plazas. The project is being developed and managed by Skylan Development, an international property developer with offices in Seoul, Tokyo, Singapore and Beijing. Skylan will manage an impressive team of internationally respected businesses such as Cushman & Wakefield, in charge of retail lease management. All of the businesses concerned with the development of Parc.1 are reputed for their mastery of the economics of large-scale, visionary projects. This exciting project will insure long-term financial viability for all tenants and long-term financial security for its investors. There can be few projects in the world that offer investors and retailers opportunities on this scale – and with this potential.
Key Facts Development Manager Concept Architects
Skylan Development Ltd.
Rogers Stirk Harbour + Partners
Construction
Samsung C&T Corporation
Site Address
22 Yeouido-dong, Yeongdeungpo-gu, Seoul
Land Area
46,465 m2 Tower 1: 223,340 m2 / 72 floors
Office Towers Tower 2: 166,540 m2 / 56 floors Retail
Total GFA Hotel
Total Cost
180,000 m2 7 evels above ground & 2 levels underground (over 350 shops, restaurants & entertainment facilities) 627,680 m2 57,800 m2, Approx 350 keys
USD2.3 billion (KRW 2.3 trillion)
Design Parc.1’s design concept evolves around the idea of creating a vibrant heart, and a unique meeting place for Yeouido and the city of Seoul. The Parc.1 design emphasizes public open spaces and linkages, connections to the community, and sustainability. The development will establish a new Korean public space aesthetic. Inviting Places Each public space will be designed based on the environment and area functions. The parks, plazas and public gardens will attract visitors to this energetic meeting place with well-designed pedestrian pathways that maximize retail visibility. Open, Mixed-use Space The new development will support a great range of activities and offer an integrated community experience. Day or night, consumers will be drawn to the excitement and wonder of this central location.
Relationship with Surroundings Each building component, such as the entrance and exit placements and loading dock, will fit harmoniously within the existing environment, enhancing the neighborhood without adding to traffic congestion or noise. The towers have been designed to complement the adjacent architecture and blend with the surroundings and existing transportation patterns. Routes through the development will connect to existing pedestrian networks in the surrounding neighborhood.
Environmental Considerations and Sustainability For development on such a scale, the main challenge will be to minimize impact on the environment. The design is based on a sustainable approach, focusing on the minimum use of non-renewable resources and encouraging the re-use of materials and energy sources. Recyclable building materials, efficient energy systems, including grey water re-circulation, solar panels, cogeneration using waste heat, ice storage, green (literally) roof top, nature friendly allocated areas and energy saving plant machinery systems were a design priority from the beginning. Incorporating inviting green spaces, both inside and outside, is another priority. Design also takes into account the proximity of Yeouido Park. The glass structure will reflect the greenery from across the road while allowing natural light to flood the interior of the mall. The two office towers of Parc.1 development received a prestigious LEED (Leadership in Energy and Environmental Design) Gold precertification from the USGBC (U.S. Green Building Council) in 2009. Parc.1 is the first development in Korea to receive this honor, marking milestone in terms of best-in-class environmental design in Korea. The LEED is a Green Building Rating System which honors environmentally sustainable construction. As the recognized standard for measuring building sustainability, the LEED is highly coveted. According to the Korea Green Building Code, the two office towers of Parc.1 are at the highest level, Platinum; the project as a whole is at the Gold level.
Architectural Structure The development will consist of a series of building components that makes a strong statement on how we see the direction of urban skylines. While the retail element will be low rises, two towers will be positioned on the northern part of the site adjacent to Yeouido Park. This will allow the buildings to take advantage of the park and river views, minimizing overshadowing of the site and forming a visual focal point on Yeouido Road. The soaring vertical office space creates a dedicated work environment, while the large, energetic horizontal retail and public spaces attract retail customers. Landmark Office Towers Two gleaming, modern 72-story (332.7m high) and 56story office towers featuring dramatic design will augment the new urban skyline. The futuristic design and the fact they will be the city’s tallest buildings will establish them as the new Seoul landmark. This prestigious park address will offer breathtaking views of the park, the Han River and central Yeouido. The premium office space will feature excellent state-ofthe-art facilities and services and beautiful and efficient structural design. The towers are located near the main street to minimize the impact on the surrounding area and existing traffic. Each tower will have separate entrances and exits, which give convenient access to the retail mall and F&B. The Retail Mall Natural light will stream in from the gigantic skylights and atrium of the mall, from the 7th down to the main floor. The open walkways will face the atrium and look up to a roof garden on the upper floors. The natural light will create a bright, pleasant shopping experience. The feeling will be natural and relaxed, yet filled with dramatic architecture and panoramic city views. The mall will contain Korea’s best variety of shopping, dining, and entertainment, from fashionable, up-scale brand retail shops on the 1st floor, to restaurants on the 5th and 6th floor. Bright, airy walkways with plenty of circulation space will
make shopping easy and convenient. The central mall area between the atrium will feature a theme of four seasons, making the mall a luxurious, verdant space. Throughout the year this transparent space will provide a variety of cultural activities, including music and multi-media events. The main public plaza is adjacent to the crowded main street, producing a compelling attraction for the connected business and commercial areas. World-class, International Quality Hotels The southeastern corner of the retail complex will become a landmark entrance to the mall. The south entrance is designated for a world-class international hotel, which will offer quality and convenience to visitors, as well as beautifully located function rooms for events. The scale of the hotels will complement the surrounding neighborhood profile. Neighborhood Green Spaces New public spaces will be created to draw visitors from the business district and the neighborhoods. A public plaza located on the western side of the development in front of the main shopping street, will form a compellingly action-filled neighborhood square. The public park between the two towers will connect to Yeouido Park. The walkways from the center of the mall to the residential area will provide easy, 24-hour access to the mall and other meeting spots.
Architect’s View The Rogers Stirk Harbour + Partners (RSHP) brings an international reputation and a unique contemporary vision to the Parc.1 development. One of the most visible and prestigious architectural firms in the world, RSHP has received critical acclaim and numerous international awards and honors over the past three decades. ”Architecture transforms the ordinary by giving order, scale and beauty to space,” says Richard Rogers. “It allows us to build dreams and turn them into reality.” His practice showcases his attempts to answer the challenge posed by modern architecture and urban planning: “How to make the building sit within the city and become somewhere attractive, somewhere you wish to go?” Parc.1’s architectural design is sleek and contemporary, complementing the existing commercial buildings in the area, while also incorporating multiple open, green spaces in an effort to blend this urban development in with Yeouido Park, Plazas, parks and pedestrian paths work to gather people and guide them to the activities and retail spaces. ”It’s for people meeting face to face, with a host of activities around,” Lord Rogers states, adding, “We believe we can give the city its finest international standard mixed-use real estate development, comparable to those in Asia’s best-of-breed retail destinations, Hong Kong and Singapore.” However, not all retail architecture gets the Rogers seal of approval. “The important thing is to make this building work with its neighbors,” he says. “Big retail traditionally turns its back on its neighbors; we have a great opportunity of doing the opposite, making it participate within the city.” It is impossible to discuss RSHP’s design philosophy or vision without mentioning sustainability, the concept that any development should contribute to the environment and to the community, as much to the financial bottom line. Parc.1 will be future-sustainable, and energy efficient. It will, in short, have a positive impact on the social fabric of the community.
Skylan Development Skylan Development Ltd. (www.skylan.com) is a property development and management company with offices in Korea and China. Formed in 2005, the company draws on the combined experience of several development professionals who are widely known in the industry for their involvement in some of the most notable international developments. Paul-Marcel Rogers, Chairman Mr. Rogers is the founder and Executive Chairman of Skylan. He was the originator of the Parc.1 project, the largest mixed-use real estate project in Seoul. Previously Mr. Rogers was Head of Structured Finance for Asia at Lehman Brothers based in Tokyo and Head of Structured Finance Non-Japan Asia for UBS based in Hong Kong where he was responsible for creating innovative structured financial products and financings across Asia. Mr. Rogers has lived in Seoul for 8 years and has been based in Asia for the past 23 years. Mr. Rogers speaks fluent Japanese and Korean. Peter Rogers, Vice Chairman Mr. Rogers has over 30 years of construction and development experience. He spent 20 years as director and co-founder of Stanhope PLC, one of UK's foremost property developers and during this period was responsible for a number of landmark projects including the Broadgate development. Mr. Rogers is the Founder and Chairman of the UK Green Building Council and Chairman of the Strategic Forum for Construction's 2012 Task Group. Jonathan Perratt, CEO Mr.Perratt is the co-founder and Chief Executive Officer of Skylan. Mr. Perratt is also responsible for developing Skylan's business in China. He has been living in Asia for over ten years, both in Tokyo and Beijing and has extensive experience in structuring and managing investments in real estate and venture capital projects in North-east Asia. Previously he worked for Barclays Capital and Union Bank of Switzerland in Tokyo and London.
Dongwan Lee, Vice President Over 20 years of experience in development projects within Korea. Mr. Lee's experience spans the planning, building permits and design, to execution, operation, and maintenance management of apartments, multi-use commercial buildings, theaters, offices and complex developments. Previously Vice President of Glostar Ltd., P&D Holdings Ltd, and Hyundai Development Company executing over 30 projects. Mr. Lee’s past projects include: Chungye Square Garden, Buchun We’ve The State, Dduksum 4 Block Project, Bundang Demonstration Complex, Yeoksam Venturetel, Jamsil Tower, Samsungdong I’Park. Mike Walsh, Senior Director Mike Walsh has over 30 years experience as a planning and construction executive in the UK, Europe, Malaysia, Turkey, India and the Middle East. His most recent position was that of construction director for Festival City in Dubai, a $3bn mixed-use commercial project including a shopping mall, hotels, a golf course and residential complexes. Previously, he was the construction director for Heron International, a UK property company developing a portfolio of urban entertainment centers across Europe. From 1995 he was the project director for a 5 year joint venture, developing a number of projects in India, and amongst these projects several five star international hotels were successfully developed. Dan Grover, Managing Director Dan Grover is a seasoned property executive with extensive experience in mixed-use development. Dan joined Skylan Development from Las Vegas Sands Corp where he was Director, Retail Development. Dan has worked on some of Aisa's highest profile real estate schemes in a career that has seen him based in Asia for over 15 years. Mr. Grover’s past projects include: The Venetian Macao, The Four Seasons Macao, Raffles City Shanghai, The Mixc, Festival Walk, Wai Tan Yuan, LG Twins, The Enterprise Centre Brian Dent, Project Director Brian Dent is a senior property executive and architect with extensive international experience including the master planning, design and delivery of large scale mixed use developments. Brian has been involved in the development and management of major projects in Asia, Europe, India, Turkey and the Middle East. Past development projects include the Mina Manama Development Plan in Bahrain, which evolved to redevelopment by private commercial developers of a significant reclaimed site and incorporated various commercial office towers, residential towers, retail centres, a hotel and an entertainment and conference centre. Brian also has vast experience in hospitality projects such as The Udaivilas Hotel, one of a number of iconic hotels developed under his direction in India.
Young K. Lee, Finance Director Young K. Lee is the Director of Finance at Skylan in Korea and is responsible for raising project financing. Before joining Skylan, he was involved in the New Songdo City development project, the largest private development in the region. There he was Senior Director of Project Financing & Investments for its appointed project developer, Gale International Korea, a joint venture between The Gale Company. He and his team successfully closed a $1.5 billion Dual Currency Term Loan from domestic and international institutions for the purchase of land and development capital for New Songdo City Development Ltd. He also has years of banking experience from working in the Investment Banking Group of Koram Bank, a major domestic commercial bank which was acquired by Citigroup in 2004. Marc Rogers, CIO, CSO Marc Rogers has more than 15 years experience in Information Technology and Information Technology Security Management including 10 years management experience in the telecomms sector. Before joining Skylan, Marc worked for 8 years as a Senior Security Manager in Vodafone UK Ltd, one of the world's largest mobile operators.