(C) Gadeokdo New Airport Construction Authority
BUSAN — In a landmark move for the regional economy, Bando Construction has officially secured the Gadeokdo New Airport Construction Authority (GNACA) as a primary tenant for its "Bando Ivy Planet" project. The signing ceremony, held on December 30, marks a significant turning point for the Busan Eco Delta City (EDC) as it evolves into a strategic hub for South Korea’s future infrastructure and logistics.
A Major Anchor Tenant for Busan’s Future
The "Bando Ivy Planet" is the first large-scale knowledge industry center (specialized urban multi-tenant office complexes) located within the Busan Eco Delta City. According to Bando Construction, the GNACA is scheduled to relocate its headquarters to the facility upon its completion in October 2026.
This move is expected to trigger a "cluster effect." As a major public entity tasked with overseeing one of South Korea's largest infrastructure projects—the Gadeokdo New Airport—the Authority's presence is likely to draw in a wave of affiliated agencies, partner firms, and specialized subcontractors.
"The relocation of the Gadeokdo New Airport Construction Authority provides a bedrock of stability and future value for the project," stated a spokesperson for Bando Construction. "We are seeing a surge in inquiries from companies looking to secure units in proximity to the Authority, creating a competitive environment for the remaining spaces."
Expanding the Business Ecosystem
The appeal of Ivy Planet has been further bolstered by the recent expansion of permitted business sectors in Busan’s Gangseo District. Previously limited to traditional manufacturing, IT, and R&D, the facility can now accommodate 15 additional sectors, including:
Future Industries: Smart farming and AI-driven services.
Professional Services: Legal, accounting, and tax firms.
Logistics & Media: Road freight services and audio-visual production.
Construction: Specialized and comprehensive construction management.
This regulatory shift, combined with the presence of a central public anchor, transforms the complex from a simple office building into a diverse business ecosystem capable of supporting the entire lifecycle of the airport's development.
Eco Delta City: A Nexus of Development
The relocation comes amid a flurry of high-profile developments within the Eco Delta City. The district is rapidly transforming into a self-sustaining urban center through several mega-projects:
Retail & Lifestyle: "The Hyundai Busan," a massive retail complex equivalent to the size of 15 soccer fields (200,000 $m^2$), is set to begin construction, promising to enhance local infrastructure and job creation.
Tech Infrastructure: Plans are underway for the nation’s largest AI Data Center, covering 20,000 pyeong (approx. 66,000 $m^2$), with a target completion date of 2028.
Transportation Hub: A new multimodal transfer center and the Eco Delta City station on the Bujeon-Masan double-track railway are slated for 2028. Additionally, the construction of the Umgung Bridge is being fast-tracked to connect the district directly to central Busan.
Project Overview and Availability
The Bando Ivy Planet is set to be the largest facility of its kind in Busan, boasting a total floor area of approximately 160,000 $m^2$. The structure will feature:
Scale: 2 basement levels to 8 residential/office floors.
Capacity: 1,128 units of knowledge industry spaces and 82 units of commercial retail facilities.
Timeline: Manufacturing and office units are currently under sale, with "Independent Type" units set for release in February. Completion is scheduled for September 2026.
Industry experts suggest that the synergy between the Gadeokdo New Airport Authority and the high-tech infrastructure of Eco Delta City positions this development as a premier investment opportunity in Southeast Korea. As the 2029 opening of the new airport approaches, the demand for strategic office space in this corridor is expected to reach unprecedented levels.
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