LH to Supply 17 Parcels of General Commercial Land in Yangju Hoecheon New Town via Competitive Bidding

Location map of Yangju Hoecheon New Town (Photo by LH)

[Asia Economy Reporter Moon Jiwon] Korea Land and Housing Corporation (LH) announced on the 13th that it will supply 17 general commercial land parcels totaling 14,000㎡ in Hoicheon New Town, Yangju, Gyeonggi Province through a competitive bidding process.

The parcels being supplied this time have a building coverage ratio of 70%, a floor area ratio of 600~800%, and a minimum number of floors of 5. The supply area per parcel ranges from 550 to 1,117㎡, and the expected supply price is approximately 11.87 million to 14.64 million KRW per 3.3㎡.

Among the supplied parcels, 8 parcels in Block E6 can be used to construct commercial facilities as well as multi-family housing and tourist accommodation facilities with a total floor area of less than 70%.

The payment terms allow for a 3-year interest-free installment plan, with the remaining balance after a 10% down payment to be paid in equal installments every 6 months.

Yangju New Town, consisting of Hoicheon (4.11 million㎡) and Okjeong (7.06 million㎡), is the largest new town in northern Seoul, featuring pristine natural environments such as Cheonbosan Mountain and located 26 km in a straight line from Seoul City Hall and 30 km from Gangnam District Office.

The entire district is served by Subway Line 1 and is adjacent to the GTX-C line, which is scheduled to open in the future, making transportation convenient. The general commercial land parcels being supplied this time are ultra-station area parcels located right next to Deokgye Station on Subway Line 1.

Bidding will take place on the 8th of next month, with the bid opening on the 9th. Contracts are scheduled to be signed from the 15th to the 19th of the same month. Bidding applications can be made online through the LH Subscription Center.

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