The Lotte Group, one of South Korea’s major conglomerates, owns an 82 hectare site in Gimhae on the southern tip of the Korean Peninsula.  Lotte was proposing to develop this site and sought advice on the feasibility of the proposed components of the development as well as for the project overall.

RTKL was engaged by Lotte to masterplan the development.  UrbisJHD in conjunction with Cushman & Wakefield, in turn, were commissioned to undertake a market assessment study to determine the appropriate elements and land requirements for the site.  The types of uses examined in the study included a theme park, hotels and resorts, a major retail centre, a golf course and industrial and commercial.  The work was able to demonstrate through residual land value analysis, which components would be most profitable and how much space was needed to be allocated for each component.  RTKL then prepared various masterplans for the site which are now being considered by Lotte.