Click to open larger images.
The main core is already taller than the Lotte Castle Gold Towers. Mega columns that will support the huge curtain walls are rising at the same speed. These columns will meet the main core at some point. Click to open larger images. (Photo courtesy of Skyscrapers)
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The core of the tower is getting close to the ground level. The construction of Lotte Mart here has started too. Click to open larger images. (Photo courtesy of Skyscrapers)
They have been using the fast-track construction method, and the core of the tower has finally come up on the ground. Soon, every three day, one floor will be finished.
It has been two months since the construction started and it seems to start accelerating. The ground-making of Super Tower 123 is going swimmingly, and the basement stories of Lotte shopping centers seem pretty massive too. Let's keep our eyes on it.
Even I didn't have any idea about what had happened to the USKR project for a long time. But yesterday (July 7), Korea Water Resources Corporation and USKR PFV (Project Financing Vehicle) made an agreement on the price of the land, and the construction will start in the 2nd half of 2012 and finish in 2016. Universal Studios Korea Lotte will be the main anchor company of this project and they said that it will be twice the size of Universal Studios Singapore. USKR PFV will invest USD 2.8 billion. Lotte World 2 Shopping Complex got finally approved in last November, and since then what has happened? The setting-out has been ready for 16 years, but now they seem to be doing excavation and pile-driving. Considering how massive the whole complex is, I think it is going to take a while to finish the entire construction. Let me tell you some brief information about Lotte World 2 & Lotte Super Tower 123. As you probably know, it is located right across the original Lotte World Complex in Jamsil. Lotte World 2 consists of 7 low-rise buildings and Super Tower. When it is all completed, it will be the world's 6th largest shopping complex (It will be slightly smaller than the Dubai Mall). Lotte Department Store, Lotte Mart, and many other cultural facilities will be included. Lotte Super Tower 123 has 123 levels as you may have expected and its height will be 555m. Lotte Hotel, premium offices, observation decks and a sky lounge will be the main tenants. There were a lot of conflicts about the construction of this complex, but as they have decided to build this, I hope everything will be fine from now on.
Lotte is making its move to Dongdaemun market. One of the many affiliates of Lotte, Lotte Asset Development will rent 9 floors of the biggest shopping mall in this area, GoodMorning City. Lotte AD will use from the basement level 2 to level 7. Unlike the other shopping centers in Dongdaemun (or DDM), Lotte will operate the department store system here, and as this area is crowded with young people, the concept will be a young city center fashion mall. So, you can meet some young casual brands and fast fashion brands which can be found in many department stores. Zara seems to be using the most of the first floor. GoodMorning City is the biggest shopping center in DDM and it has 17 levels. On level 9, you can find Megabox DDM and it has 8 movie theaters. GoodMorning City & Lotte's aggressive marketing strategy may threaten the existing malls like Doota, Migliore. But in the long term, this will help the whole DDM market come out of a long-term depression and will change the operation system of other malls in the area. Maybe they might also find some specialty retailers like Shinsegae. You never know. |
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