[Urbannizer]

New Vertical Park Planned as Construction of Lotte Tower In Gwangbok-dong to Resume

*Jan, 2019

The construction of the Busan Lotte Tower will soon resume in Gwangbok-dong, Jung district following ten years of slow progress since 2009.

Busan city and the Lotte Group have announced their decision to build the new Busan Lotte Tower as a representative tourist landmark for the redevelopment area of North Port.

450 billion won will be invested in the new Busan Lotte Tower.

It will be 380 meters tall and built on a site some 86 thousand square meters in size.

The tower will have high-rise arboretums that will be the first in the world to be built 200 meters above ground.

Visitors will be able to enjoy the floating forests in downtown Busan while also getting a view of the ocean.

The newly planned tower will have the world’s first public arboretum built on high floors, creating a space for viewing the sea from the high forests.

There are six themed gardens in the public arboretum, including the ‘City’s Memory Garden’ filled with native plants to Busan.

In the middle floors, there will be an entertainment space such as a high-tech skywalk and a rock climbing facility.

The lower floors are expected to revitalize the center of the downtown area, including public facilities such as a public information center in Busan, a business support center, kids’ theme parks, and various cultural and experience facilities.

The Lotte Group was originally planning to build a Lotte Tower in the form of a mammoth-class skyscraper, consisting of condominiums, hotels, offices, and observation decks.

However, the attempt to introduce a residential facility failed to achieve its goal, and eventually, the business plan was fully revised.

The project is expected to cost 450 billion won with construction to begin in October after detailed design, licensing and licensing procedures.

The completion date is December 2022.