Three prime office projects to reshape Seoul CBD supply in 2026

This will be the first wave of new supply since 2020.

Seoul’s prime office market is set to see its first wave of new supply in several years, with three major developments scheduled for completion in 2026, according to Savills.

No new prime office buildings have been delivered in the CBD since the completion of Grand Central in 2020. However, the supply pipeline will resume in 2026 with the completion of G1 Seoul in April, followed by Rene Square in May and EUL Tower in October.

All three developments will be released to the leasing market, marking a significant shift after a prolonged period of limited new supply. Savills noted that market attention is now focused on the leasing strategies of these projects and how they will influence overall vacancy levels in the CBD.

With no additional prime office completions expected in 2027, the 2026 pipeline is likely to play a critical role in shaping near-term supply dynamics and occupier choices in Seoul’s core office market.