South Korean builder Hyundai Engineering & Construction said Monday that the builder's new rental apartment complex Hillstate DMC Station boasts a convenient location as it is located near the DMC Subway Station and other landmark facilities in the neighborhood.

Hillstate DMC Station will consist of two 36-story apartment buildings housing a total of 299 households in Jeungsan-dong, Eunpyeong-gu, northern Seoul.

Adding up to its proximity to a subway station, which is considered a key merit for real estate properties here, Lotte Mall, a multiplex shopping mall, is scheduled to be built within walking distance from the complex as well. The builder said other convenient facilities in the nearby area will positively affect the upcoming complex’s valuation, elevating the price premium.

The neighboring area, called Sangam DMC, is a high-tech and media industry cluster, home to more than 400 companies in related fields. It is among highly favored residential areas in the northern part of Seoul due to its advantageous location.

The builder said the complex is also expected to benefit directly from the city government's new development project in the area that will lure more businesses and residents to further boost the local economy.

The rental apartment complex is offering a long-term special package that offers stable prices and tax benefits for renters who reside at the complex for more than 10 years.