Business Outline

Business Outline

Business Outline

The area plan for the project is 21F/B4 in scale, with a ground floor area (GFA) of 83,063.89㎡.

Location 3-2, 3-6, 4, Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do
Land Area 18,884.20㎡
District Use General commercial area, first development district
Construction Area 5,455.88㎡
Total Floor Area 83,063.89㎡
   Ground Level 53,949.74㎡
   Underground Level 29,114.15㎡
Building Coverage 28.89% (Legal standard within 80%)
Floor Area Ratio 285.69% (Legal standard within 800%)
Construction Scale

Total of 3 buildings. hotel (432 rooms, B4F~21F), Residence hotel (170 rooms, B4F~19F)

Convention building(B3F~3F)

Project Site

4, Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Republic of Korea

Project Site

Locational Strength

The project site has a high potential for growth due to its convenient location and accessibility through various subway lines and expressways, as well as due to several main development plans nearby.

The site is located near the expected sites of the Alphadom City and the Second Pangyo techno-valley, and among High Tech Industrial Complexes such as the Bundang IT Valley.
The site is conveniently accessible through the Gyeongbu Expressway and Bundang-Suseo Expressway among others, and through the well-developed public transportation network such as via the Shinbundang line and the Bundang line.


Locational Strength



- Prime location surrounded by the Business District of Pangyo, Sunae subway station, and Jeongja subway station.

- Several major conglomerates have plans to relocate to Bundang Business District (BBD).

- Convenient vehicle accessibility through Gyeongbu Expressway, Bundang-Suseo Expressway, etc.

- Well-developed public transportation infrastructure such as Shinbundang subway line and Bundang subway line.

- Adjacent to the First Pangyo techno-valley and Korea Job World.



- No luxury high-end hotel located nearby (as of August 2016).

- Increasing number of businesses (especially businesses with more than 100 employees) and employees in Seoul Pangyo.

- Increasing number of overseas tourists and long-staying tourists.




- Alphadom City (2022E).

   · 137,497㎡ complex development project nearby Pangyo Station.

   · Residential / office / commercial facilities (Samsung C&T Corporation and Hyundai Department Store opened recently).

- The Second Pangyo techno-valley (2022E).

   · Multiple complex development project connecting the First Pangyo techno-valley and Alphadom City.

   · Target global firms’ (including Chinese firms) R&D centers.

- Baek-hyun area / station (planned).

   · Office / convention / commercial facilities.

- Transportation Infrastructure Development Plans.

   · Bundang line nad Shinbundang line connection plan.

Land Decree



The site comprises of 3 lots located in a general commercial area, with a total size of 18,884.2㎡. The current owner is Seoul Pangyo and the developer has secured the land-use right through a leasing agreement with Seoul Pangyo.

The site comprises of 3 lots of public land, located in a general commercial district.

Besitz, the developer, has signed a 30-year-leasing agreement on the project site with Seoul Pangyo on November 13, 2015.

Besitz Comprehensive Development Ltd has the Right of First Offer (ROFO) to purchace the land before the lease ends.

Land Decree

Land Decree and Summary


Location Lot # Land Area(㎡) Regional District Ownership
Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea 3-2 4,971.7 General Commercial District Public Asset
Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea 3-6 88.3 General Commercial District Public Asset
Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea 4 13,824.2 General Commercial District Public Asset
Total 18,884.2

Business Plan Details

The project goal is to develop and operate a competitive luxury and residential hotel, which provides a differentiated hotel service. The planned grand opening is in August 2022.

Business Goal

Value-added Creation

- Develop and operate a distinguished luxury hotel by utilizing the public land of Seoul Pangyo.

- Devise a highly profitable business plan by focusing on the value of the constructed asset and reducing unnecessary costs.

Competitive Luxury hotel

- Absorb the existing latent demand for a luxury hotel and the demand for an extended-stay residential hotel in the area.

- Maximize operational efficiency and secure hotel value through prestigious global brand affiliation.

Differentiated Hotel Service

- Satisfy various customer needs by providing luxurious hotel facilities and services at a reasonable price range.

- Host distinctive events in the Convention Center located in the annex building.

Development Concept


Space Composition Plan

Business Outline

Business Outline

Business Outline

The concept of the project is to create a “Future-oriented Cultural Complex Space” representing Southern Gyeonggi-do, by developing and operating a 602-room high-end luxury hotel along with a convention center facility.

The development concept is to create a space composed of a luxury hotel and a convention center in order to meet various customer needs.

Development Concept


- 602 rooms (hotel 432 rooms, residence hotel 170 rooms)

Development Concept

- Futuristic cultural complex space representing the southern part of Gyeonggi-do; locational advantage, differentiated service, reasonable price, professional operation and more.

Differentiation Strategy

- Create quality city-space which could targets various customer needs; business, tourism, cultural, leisure and more.

   · Prestigious global brand affiliation.

   · Separate convention center to hold various cultural events, including international meetings, concerts, exhibitions, etc.

   · Differentiated additional facilities including spa facilities, F&B and more.

Space Composition Plan

High-end luxury Hotel
Resdence Hotel
Convention Center
2nd basement

- Nail shop   - Wedding shop

- Hair shop   - Flower shop

- Jewelry shop   - Tailor shop

- Souvenir shop   - Convenient sotre

   - Car center
1st basement

- Restaurant

- Coffee & Bakery lounge

   - Art gallery

   - Sales facility

   - Banquet hall
1st floor

- Buffet restaurants

- Restaurant

   - Party rooms

   - Coffee & Bakery lounge

   - Wine bar

   - Convenient store

   - Banquet hall

2nd floor

- Fitness club

- Sauna

- Indoor Swimming pool

- Lounge

   - Indoor Golf ground

   - Restaurants

   - Spa

   - GX room

3rd floor

- Reception

- Club lounge

   - Smart office

   - Tennis court

4th ~ 20th floor - Room(432)    - 4th ~ 19th floor : Room(170)
21th floor

- Sky lounge & Bar

- Meeting rooms

Room Composition


Operation Plan

The project will be operated by a consigned global hotel operator to enhance asset value and to maximize operational efficiency.

Maximizing operational efficiency through hotel consignment operation and providing differentiated high-end services at a reasonable price range.

Consignment Operation Overview

Consignment Operation Overview


- Based on consignment operation agreement with business owner, the operator shares their brand name and dispatches its skilled employees for the contracted period.


- Operational Efficiency

   · Stable operation leads to stable profit, and eventually leads to Break-Even Point of the business at shorter period.

   · Acquisition of standardized operating system.

   · Enhancement of asset value and financial solvency.

- Brand value

   · Utilization of prestigious global hotel brand.

   · Facilitation of promotion at the early stage of operation.

- Human resource

   · Securement of skilled human resources and know-how.

Room Composition Plan

Room Composition Plan

Classification Room Type # of room Composition Ratio Area/room(㎡) Gross Area(㎡) Area Ratio
luxury Hotel
A-1 Type 307 51.00% 32.81 10,071.74 33.90%
A-2 Type 51 8.47% 30.58 1,559.58 5.25%
B Type 49 8.14% 47.62 2,333.36 7.85%
C Type 17 2.82% 64.61 1,098.37 3.70%
D Type 2 0.33% 122.98 245.96 0.83%
E Type 6 1.00% 66.31 397.85 1.34%
Sub Total 432 71.76% 15,706.86 52.86%
F Type 66 10.96% 34.10 2,250.28 7.57%
G Type 4 0.66% 60.50 242.00 0.81%
H Type 8 1.33% 32.86 262.84 0.88%
I Type 30 4.98% 144.69 4,340.70 14.61%
J Type 30 4.98% 97.52 2,925.60 9.85%
K Type 30 4.98% 130.58 3,3917.40 13.18%
L Type 2 0.33% 34.09 68.18 0.23%
Sub Total 170 28.24% 14,007.00 47.14%
Total 602 100.00% 29,713.86 100.00%

Area Plan

Area by Facility

Classification High-end luxury hotel Residence hotel Convention Total
Room 15,706.86 14,007.00 - 29,713.86
Room 15,706.86 14,007.00 - 29,713.86
Auxiliary Facilities 5,497.94 2,818.11 1,881.93 10,197.98
F&B 9,041.76 827.45 - 3,869.21
Fitness Center 1,400.68 152.35 305.91 1,858.94
Banquet 439.16 237.49 1,576.02 2,252.67
Arcade 506.00 - - 506.00
Other Facilities 110.34 1,600.82 - 1,711.16
Common Facility 26,338.22 14,784.32 2,029.51 43,152.05
Public Department 11,295.00 6,153.89 1,305.96 18,754.85
Management Facility 6,811.34 2,198.52 723.55 9,733.41
Parking Facilities 8,231.88 6,431.91 - 14,663.79
Total 47,543.02 31,609.43 3,911.44 83,063.69

Demographics and

Economic Indicators

of Seoul Pangyo

The demographical and economic indicators of Seoul Pangyo show that the city’s industry has outgrown other major cities, especially in virtue of rapid growth of Bundang district including BBD/Pangyo.

Despite the relatively slow growth in overall population of Seoul Pangyo, the growth rate of Bundang district (where the project site is located) has highly outgrown other major cities including Seoul and Incheon.

The economic indicators including GRDP and the Land Price Index of Seoul Pangyo have shown stable and rapid growth over the past years.

Demographics of Seoul Pangyo and the Other Major Cities(2008~2015)

Demographics of Seoul Pangyo and the Other Major Cities

GRDP Growth Rate of the Major Cities(2008~2015)

GRDP Growth Rate of the Major Cities

Land Price Index of Seoul Pangyo(2005~2015)

Land Price Index of Seoul Pangyo

key Statistics On

Industry Of

Seoul Pangyo

Seoul Pangyo, by creating favorable business environment, has successfully induced companies, including major conglomerates, mid-size firms and venture companies, to move in.

The industry of Seoul Pangyo have shown stable and continuous growth over the past years; the growth is expected to be continued, especially around BBD/Pangyo district.

The number of venture companies in Seoul Pangyo has been showing steady increase at a rate of 7.2% (CAGR); surpassed 1,000 as of 2012, reached 1,297 in 2015.

Companies and Employees(2010~2014)

Companies and Employees

Industry Sector Composition(2014)

Industry Sector Composition

Number of Venture Companies in Seoul Pangyo(2010~2015)

Number of Venture Companies in Seoul Pangyo

Business Complex

Development Plans

In Seoul Pangyo

Currently, “Alphadom-City” and “The second Pangyo Techno-Valley,” two additional large-scale business complex developments are planned in Seoul Pangyo near the project site; Increase in demand for accommodation is forecasted.

Two major business complex developments are expected to spur accommodation demand from business clientele.

The second Pangyo techno-valley is a government-driven development, as the central part of ‘The Urban High-tech Industrial Complex Development Plans’.

The complex composed of MICE, office, retail, cultural and lodging facilities is currently on the stage of planning; the construction is expected to begin in 2018.


Alphadom City Land Area 137,498m2
Gross Floor Area 1,219,173m2
Total Project Cost KRW 5.03tn
Period of Project 2007~2018E
Main Tenants Samsung C&T, Hyundai Department Store
Facility Composition Office, Housing, Lodging, Retail, Cultural facilities

The Second Pangyo Techno-valley

Pangyo Technovalley Total Area 130,000py
Total Project Cost KRW 1.5tn
Period of Project 2015~2019E
Main Target R&D Centers of Global Companies

Beakhyun Urban Development Plan

Beakhyun Urban Development Plan Location Area around 1, Jeongga-dong, Bundang-gu, Seongnam
Land Area 206,280m2
Project Goal Development of MICE Industrial Cluster
Facility Composition Exhibition, Office, Retail, Clutural, Lodging facilities
Period of Project 2015~2022E
Form Joint Business of Public and Private Sector

Major Cities In

Metroplitan Area

Incheon, Suwon, Goyang, and Ansan are major metropolitan cities located near Seoul, with similar characteristics to Seoul Pangyo -self-sufficient cities with growing industries.

Suwon city, which is located adjacent to Seoul Pangyo, has well-established industry on the basis of conglomerates’ research complex, which led to a high demand of accommodations; Suwon City’s accommodation facilities far outnumber other metro cities’.

Seoul Pangyo, which was once developed as a Bed town to absorb excessive housing demands of Seoul, is currently growing into a self-sufficient city by the absorption of business relocation demands of Seoul.

Major Cities in Metropolitan Area

Major Cities in Metropolitan Area


Population: approximately2.93 million

Main industry: As a port city, Incheon is famous for ocean industry and export trade and has the Free Economic zone such as Songdo. Especially the machinery industry is active around the industrial complex.


Population: approximately1.18 million

Main industry: Major institutes, such as Meteorological Administration, Rural Development Administration, National Geographic Information Institute, are located in Suwon. In addition to conglomerates’ research institutes(e.g.Samsung, SK), lots of businesses with more than 100 employees are located in the area.


Population: approximately1.03 million

Main industry: Traditionally famous as a representative manufacturing area of the metropolitan area. But after the development of Ilsan Newtown, service industry is also active due to the change in industrial function and increases in land prices.


Population: approximately0.7 million

Main industry: 99% of the businesses in national industrial complex comprise of small and medium-sized businesses. The establishment of the industry focuses on Steel, electric electronic, machinery, petro chemistry.

Hotel Supplies

In Major Cities

Compared to other major cities with similar characteristics, Seoul Pangyo appears to have relatively few hotel facilities and rooms; Also, currently there is no Luxury-scale hotel in Seoul Pangyo.

Compared to other major metropolitan cities, number of hotel facilities and rooms supplied in Seoul Pangyo are far less than average.

Currently, Seoul Pangyo has only one Deluxe (4-Star) Hotel, and has no Luxury-scale (5-Star) Hotel.

Major Cities in Metropolitan Area

Major Cities in Metropolitan Area

Number of Rooms in Major Cities by Hotel Scale

Number of Rooms in Major Cities by Hotel Scale

Estimation Of

Hotel Demands

In Major Cities

Compared to other major cities, Seoul Pangyo appears to have relatively few hotels and rooms. Both indicators –the number of businesses per hotel room, and the number of population per hotel room, indicate the insufficient supply of accommodation facilities in Seoul Pangyo.

Indicator : Businesses to Room

Indicator : Businesses to Room

The number of medium-sized businesses in Seoul Pangyo has been showing a steady growth over the past years; 5-year CAGR of 8.69%.

The number of business per hotel room in Seongnam-si is 0.56, which is the highest among major cities; implies insufficient number of hotel rooms considering the city’s industry scale.

Incheon Suwon Goyang Seongnam Ansan
Rooms 8,528 1,884 489 735 722
752 313 194 411 359

Indicator : Population to Room

Indicator : Population to Room

The number of people per hotel room in Seongnam-si is 1,322, which is higher than Incheon/Suwon/Ansan by x3.9/x2/ x1.4; another implication of insufficient supply of hotel rooms compared to other cities.

Incheon Suwon Goyang Seongnam Ansan
Rooms 8,528 1,884 489 735 722
Population 2,925,815 1,184,624 1,027,546 971,424 697,885



Organization structure

Company Profile

Company name BESITZ Comprehensive Development CO., LTD.
President Kim, Hye Jung
Establishment February 26, 2004
Location 11th Floor, amcosquare720, 14, Eonju-ro 85-gil, Gangnam-gu, Seoul, S.Korea
Tel / Fax / E-Mail +82 (0)70 4170 6919 / +82 (0)2 554 4438 /
Business type Type : Real estate industry
Main Business Trade business

Leasing real estate


Real estate development work
Organized team Strategic planning, Architecture, Law, Accounting


2014. 02 Hanmoo Convention

Proposal for Selection of GKL Foreigners-only Casinos
2012. 11 Korea Federation of Teacher’s Associations

The Korea Federation of Teacher’s Associations Building Remodeling Business
2012. 09 Soongsil University

Development Project of Soongsil University complex Facility
2012. 06 Korea Asset Management Corporation

School Facilities Complexation Plan Using National Property
2012. 01 Gimpo city hall (local gorvenment)

Development Project of Gimpo Taeri Korean Style house Complex
2011. 10 Chungnam Techno Park

Development Project of Chungnam Techno Park Knowledge Industrial Center
2011. 05 TIMAH

Development Project of Bangka and Belitung of Indonesia
2011. 02 Enis Co. Ltd.

Development Project of Jeju Myosanbong Tourist Region
2010. 11 Incheon Free Economic Zone Authority

Internationalization Strategy of Songdo Landmark City
2010. 10 Masdar

Feasibility Study and Master Planning on Construction Masdar New Town KCTC of UAE
2010. 10 Korea Asset Management Corporation

Research on the Development Plan and Efficient Management of Small National Property
2010. 09 OAO KAD-L

Development Project of Russia Project KUDROVOⅡ
2010. 09 Korea Electric Corporation

Business Basic Plan on Optimum Utilization of South Branch Site of Korea Electric Power Corporation
2010. 08 Hanam Urban Innovation Corporation

Development Project on The Cheonhyeon and Gyosan District Eco-friendly Multiple Complex of Hanam-city
2010. 07 Gumi city Hall (local gorvenment)

Utilization Plan on The Kumoh National Institue of Technology Site
2010. 03 SKTELECOM

Research for the Plan for an Index of City Management
2009. 10 Chungnam Techno Park

Development Project on Construction of Cheonan Valley Mansion Type Multiple Complex
2009. 08 Korea Institute for Advancement of Technology

Research on the Long-term Development Strategy and Progress Plan of Korea Techno Park
2009. 06 Korea Asset Management Corporation

Research on the Utilization Improvement of National Land

More details are available upon request.