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IGIS Asset Management to Transform Former Lotte Department Store into 'Timewalk Bundang'

Finance · Real Estate Development · yonhap_finance · 2026-08-06

IGIS Asset Management plans to convert the former Lotte Department Store in Bundang into a mixed-use office and retail complex by 2028.

What Happened

Project Overview: IGIS Asset Management is set to redevelop the former Lotte Department Store in Bundang into a mixed-use commercial facility named 'Timewalk Bundang.' The project, spanning over 77,000 square meters, is scheduled for completion by October 2028.

Space Allocation: Approximately 66% of the total area will be dedicated to office space, with the remainder serving as retail facilities. Global tech firm LINE Plus has already secured office space on floors 4 through 8, while Lotte Shopping is considering operating the basement retail level.

Strategic Focus: This redevelopment reflects the growing demand for customized office spaces that integrate professional environments with retail amenities. IGIS is leveraging its expertise from previous projects in Magok and Yeouido to attract high-profile tenants.

Future Outlook: Timewalk Bundang marks the beginning of a series of asset transformation projects for IGIS, including Iota Seoul and Sindorim D-Cube City. The firm aims to maximize asset value by delivering tailored spatial solutions that meet the evolving needs of corporate tenants.

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