“Apartments that serve meals are on the rise” ... High-end complexes compete over dining services

[Financial News] Meal services for residents within apartment complexes are expanding, particularly in high-end residential developments. Builders are strengthening their competitiveness by introducing services in partnership with specialized food-service companies at newly marketed complexes.
According to the real estate industry on the 10th, Gaepo Raemian Forest in Seoul’s Gangnam District has been offering dinner service since July last year, following breakfast and lunch. Raemian One Bailey in Seocho District has also partnered with a specialized food-service company to provide lunch and dinner on weekdays and breakfast and lunch on weekends. BRIGHTEN YEOUIDO in Yeongdeungpo District also offers meal services for residents.
One advantage of meal services within a complex is that residents can eat in the community facilities without having to visit outside restaurants or prepare food separately.
The services are seen as suiting the lifestyles of a broad range of potential customers, from dual-income couples with busy daily routines and one- and two-person households to couples seeking a relaxed and refined lifestyle after retirement.
Meal services are spreading, particularly in Seoul’s major upscale residential complexes. Prospective buyers are also increasingly drawn to complexes that offer them.
Icheon Le-El, which went on sale in Seoul’s Yongsan District last April, was planned to include facilities such as a dining café offering breakfast. It recorded an average competition ratio of 134.9 to 1 in the first-priority subscription round. A total of 10,528 people applied for 78 homes.
Changwon Megacity Xi & Weve, which went on sale last year in Changwon, South Gyeongsang Province, was also planned to introduce resident support services, including breakfast. All 2,041 homes offered for general sale were reportedly contracted within about 80 days of the start of sales.
As more apartments offer meal services, food-service companies such as Hyundai Green Food Co., Ltd., CJ Freshway and Samsung Welstory are also entering the market for catering and food services within multifamily residential complexes. Builders draw on the specialist companies’ menu-development and operational capabilities, while the food-service companies expand their businesses by serving complex residents.
A real estate expert said, “The competitiveness of upscale residential complexes is expanding beyond simply what facilities they have to what kind of lifestyle residents can actually enjoy. Meal services in particular offer a high level of satisfaction in everyday life and require professional operating capabilities, which limits the number of complexes that can actually introduce them. As a result, they will be an important competitive advantage that enhances the quality and exclusivity of high-end residential offerings.”
Amid this trend, a new residential complex planning to introduce meal services is set to be brought to market.
Siwon Co., Ltd., an affiliate of real estate developer DSD Samho, plans to bring Nam Pangyo The Hill, a senior residential development for sale, to market in Gogi-dong, Suji District, Yongin-si, Gyeonggi Province. Hyundai Engineering and Construction is expected to handle construction. The development will comprise 892 homes across 16 buildings, rising up to 15 stories above ground, with exclusive-use areas of 59–99 square meters. Of these, 713 homes are planned for sale and 179 for rent.
The complex has signed a business agreement with Hyundai Green Food Co., Ltd., an affiliate of Hyundai Department Store Group, to provide food services. Plans include menus tailored to residents’ health conditions, such as low-sodium, low-sugar and soft-texture meals, as well as Korean meals, à la carte meals, lunch boxes and meal kits.
Planned community facilities include an infinity pool, golf practice range, sauna, guest rooms and a children’s play area. The medical support center is planned to offer health management and daily-living support services, with nurses and social workers on site.
LOTTE Engineering & Construction Co., Ltd. also plans to bring Gyeonggi Gwangju Station Lotte Castle Signature Complex 2 to market in Ssangnyeong-dong, Gwangju, Gyeonggi Province. The complex will comprise 1,249 homes across 10 buildings, with 10 basement levels and up to 26 floors above ground, and exclusive-use areas of 59–246 square meters.
The complex is set to introduce lunch and dinner services operated by a specialized food-service brand. Plans also include a residents-only shuttle bus running to and from Gyeonggi Gwangju Station, an indoor golf facility and a supervised study room. The complex is adjacent to Ssangnyeong Park, which is being developed across approximately 510,000 square meters, and the Gyeonggi Gwangju Station Area Mixed-Use Development Project is also underway nearby.

[email protected] Choi A-young Reporter