A view of the Lotte Castle Classia apartments to be built in Kileum New Town in Seoul to be put on presale.The complex has 2,029 apartments built in 19 buildings 37 stories high with 6 basement floors with sizes ranging from 57 sq. meters to 112 sq. meters. (Photo: Lotte E&C)

Lotte E&C will launch pre-sale for its Lotte Castle Classia apartments in 16-608, Kileum-dong, Sungbuk District in Seoul, the last batch of 2,029 apartments in the Lotte Castle Residential Complex in Kileum New Town, the company said.

The construction company said the model houses for the apartments opened on May 17 with the homes to be opened for residency in January 2022.

The 19 structures are designed to have 6 underground floors and 37 above-round, with the sizes of the apartments ranging from 57 sq. meters to 112 sq. meters. The apartments up for presale for general public would come to around 637 with sizes below the 85 sq. meters.

The complex is located only in walking distance from the Mia Crossroad Subway Station and the Kileum Subway Station of the No. 4 Subway Line. Also easily accessible from the complex are the Internal Circular Road, the Dongbu Trunk Road and the Bukbu Trunk Road.

The Sunggok Primary and Middle School, Gaesong High school and the Yonghun International Middle and High School are located near the complex.

The particular features of the apartments would include a shower at the entrances of the apartments to wash off the fine dusts from the residents as they return from outside and the lights above the dining tables to clean the air of the kitchens. The Castle Smart Make-up Mirror Table with LED lights will also be provided inside the apartments.

Those interested are invited to call (02) 982-1999 for additional inquiries.

Lotte E&C will oversee a new town development project in Ho Chi Minh City in Vietnam in cooperation with Vietnamese property developer Novaland Group.

Lotte E&C announced May 19 that it signed a strategic partnership with Novaland at the group headquarters in Ho Chi Minh City on May 8 to jointly build apartment complexes and carry out urban development project for the city and its surrounding areas. Financial terms were undisclosed.

Novaland that was founded in 1992 plans to provide total 6,500 houses this year. It was reported that the property developer picked Lotte E&C as its business partner in recognition of its ample experience in constructing upscale apartment complex and contribution to investment projects in the Southeast Asian country.

In February, Lotte E&C set up Lotte Land, its Vietnamese subsidiary, to ramp up its real estate development projects in Hanoi and Ho Chi Minh.

Lotte E&C will conduct total five projects – three projects for residence construction and two for urban development. It will build three 38-story buildings with four underground floors that will sit on an area of 14,000 square meters in District 1 of Ho Chi Minh City. The Grand Manhattan complex will house commercial facilities on the first and second floors, a business hotel from the third to seventh floor and luxurious residential areas on the rest.

“The project will serve as an opportunity to take our Vietnamese operation to the next level through cooperation with Novaland, one of the leading real estate developers in the country.” said Han Yong-soo, head of overseas sales division at Lotte E&C.

The company’s sales outlook remains bright as most of its new apartments are located in prime locations in the country’s capital and other major cities, said an official from the company.

The builder aims to earn 8 trillion won in new order volume and 6.1 trillion won in revenue this year, according to the company.

The company seeks to achieve the goals partly by expanding its presence in the global home building market. It recently set Indonesia and Vietnam as its strategic foreign markets for its overseas expansion. Currently, it is constructing a shopping mall in Jakarta, Indonesia and putting efforts stably build up its business portfolio.