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Old Posted Dec 30, 2011, 8:19 PM
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scalziand scalziand is offline
Join Date: Aug 2007
Location: Naugatuck, CT/Worcester,MA
Posts: 3,492
Maybe. NATT in itself is only ~1.1msf, not a particularly large tower. The Lotte towers are much larger, ranging from 2.7-3.3msf, parts of these towers will be hotel, cutting down on the office space supply, and Lotte group should be occupying a good portion of the towers. The other supertowers in Korea aren't moving as quickly as the Lotte towers are.

A further increase in vacancy rate is expected in the Seoul office market
following the addition of more supply (101 Pine Avenue, State Namsan
Tower) entering the market at the end of this year. However, Seoul's office
market is anticipated to see stabilization. The surge in new completions in
2011 will lead to a temporary spike in vacancy but, much of the new supply is
expected to be absorbed by latent demand built up due to years of

It all depends on if that 'latent demand' really exists.
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