People in the industry often speak to us with curiosity.
“So, How and what differentiates NEOVALUE’s lifestyle city from others?”
H + C + O
HCO development process of NEOVALUE
<The City is a Space> It is never exaggerating to say the lifestyle you have in space will determine the culture of the city.
NEOVALUE aims to plant and grow the rich culture in the urban city. H-C-O, our development process is to discover and design the perfect lifestyle for the right place. The physical space itself should be a pleasant and attractive environment for users and it must contain various contents and experiences. In addition, space should continuously be managed and operated on the right trend for greater value. By providing high-quality lifestyle value, and running various contents, NEOVALUE makes higher earning prices than using the traditional property development method.
In the traditional property development business, the mere land was developed and sold to make profits. NEOVALUE questioned this traditional revenue model. We wondered if there was a way to develop the environment by adding new values. The answer was found in the ‘Human-centric’ development.
*Hard Asset, Contents, Operation
What kind of space is needed to have a better lifestyle?
The development of NEOVALUE began with the question, “Where can we enjoy a better lifestyle?”
We take great care and effort on the software besides hardware. In the existing development industry, the land is fragmented in pieces by several land owners. It is often difficult to draw an overall picture of the space. Moreover, it is too difficult to be on the same page with many owners. NEOVALUE knew we needed one conductor who can work to have a global optimization, not a local optimization. We focused on factors that will blend well together and look for the right content. They designed retail goods like convenience stores, dry cleaners, and hospitals in right place and balanced them out instead of lining up popular franchised retails. We will maintain this structure with the right operation management until the end.
To this end, we formed an organization specializing in property development – content planning – operation management. Our expertise in each task works organically based on the know-how of NEOVALUE. The ambitious attempts to combine hardware, content, and operations are still ongoing.
A space for people, Hard Asset
New cities are often formed in a short period by plans, unlike other regions where unique cultures naturally grow over a long time. NEOVALUE viewed new cities often lacking their lifestyle and culture. That is why we created a ‘living complex with culture,’ instead of a large-scaled apartment and shopping malls in general. Alleyway Gwanggyo is the representative project that was born in the way.
The Alleyway Gwanggyo took about five years from architecture planning to its’ grand opening. The development period was longer than ordinary apartment malls. This is our effort to create a space to revitalize the surrounding area than to make a well-running shopping district. It would have been more advantageous to fill up spaces facing the road direction where Gwanggyo Lake park is if we only thought about well-selling retail shops.
NEOVALUE did not want an anchor store with a high rental cost. We decided to root powerful content that could revitalize the place and increase revisit rates. To do so, it was a priority to form a community with people. We applied the concept of a ‘friendly alley’ where many people can gather. Instead of approaching the functional aspect of shopping malls, we imagined how people will think and act in this place. We considered this space as a ‘lifestyle center.’ Therefore, we had to pay artisan attention not only to space structures but also to tiny details such as background music, hallways, and even washrooms in each area.
Plant lifestyles at space, Contents
The space defines the ‘reason to visit.’ Such persuasive content planning, creation process, and professionalism attract users to visit us back. For this, NEOVALUE acquired a bakery brand ‘Mealdo,’ well-known for milk bread in Seoungsu-dong. Mealdo was taken care of under direct brand and we had been putting good effort to develop and extend shops.
Our number one priority is to persuade brands with special strengths and select the right content for matching space. When right matching is not taking place, we also jump into projects on our own. <The Book plant> located in Wirye and Gwanggyo was a brand with its own curation ability as well as planning capability such as running book clubs, so we expected great synergy effects for collaboration. Moreover, we planned <Silkmulwon ‘botanical garden’> a lifestyle shop run directly from us. <Dagot> is also a young farmer’s agricultural product market created by NEOVALUE’s development which suits perfectly for residents who live there to enjoy.
공간을 지속가능하게 하는 힘, 운영(Operation)
Space is constantly changing over time. Adding the right content in the right space is not the end of the task. Rather, that’s only the beginning.
Operations require long-term planning because they cannot bring outcomes in 1-2 years. The key competency in planning operations is having a good relationship with tenants. Developers can manage from overall spatial planning to content development and detailed hardware design. On the other hand, operational management requires face-to-face communication in person. So, operation management’s role is quite crucial in reality. They must listen to clients and have good communication with retail shop employees. NEOVALUE takes great care to have professional team members for each tenant at Alleyway Gwanggyo for active communication and operation system.
Gathering people to activate space and constantly create new stories is essential. We planned <Mashul>, reproduced traditional market at alleys to increase intimacy between residents. We also introduced artworks such as Kaws, Beak Jeong-ki, and Choi Man-rin to pursue ‘Art in daily life.’ At editing shop STROL, we once collaborated with artists Ok Seoung-Cheol, Grafflex, and Superficiton. NEOVALUE’s vision for the operation management method is to continuously persuade and attract many more designers, and art creators to perform on our platform. We believe that the creation of a vibrant lifestyle of culture is ultimately formed when small communities become a neighborhood and eventually become a village and to city.
