LH to Supply 2 Parcels of Office Facility Land in Siheung Eungye

[Asia Economy Reporter Inho Yoo] LH announced on the 13th that it will supply two parcels of office facility land (5122㎡) in the Siheung Eungye District through a competitive bidding process.

The area of the office facility land to be supplied this time is 2552 to 2571㎡ each. The expected supply price is about 10.81 million KRW per 3.3㎡.

With a building coverage ratio of 70% and a floor area ratio of 500%, buildings up to 8 floors can be constructed for Type 1 and 2 neighborhood living facilities and office facility purposes, and the land can be used immediately upon supply.

The payment condition is a 5-year interest-free installment plan. This is the first payment condition implemented in the Siheung Eungye District (10 payments at 6-month intervals), significantly easing the conditions compared to the existing 36-month interest-bearing payment, making it easier to establish a financing plan. A 2.5% annual discount is also available for early payment before the agreed payment date.

The Siheung Eungye District covers an area of 2 million㎡ and has a population capacity of 33,000 people. The first phase was completed in March last year. It has an excellent metropolitan transportation network with proximity to the Seoul Outer Ring Expressway, the 2nd Gyeongin Expressway, and Dae-ya Station on the Sosa-Wonsi double-track railway, providing excellent access to major cities such as Seoul and Incheon.

Bidding applications and bid openings for the land to be supplied this time will be conducted through the LH Subscription Center on the 30th. Contract signing is scheduled to take place from the 6th to the 10th of next month.

This content was produced with the assistance of AI translation services.