LH Supplies Last General Commercial Land in Misa Riverside City

Location map of general commercial land supply target in Misa Riverside City (Provided by LH)

[Asia Economy Reporter Chunhee Lee] Korea Land and Housing Corporation (LH) announced on the 28th that it will supply the last 12 general commercial land parcels (24,173㎡) in Misa Riverside City, Hanam-si, Gyeonggi Province, through a general competitive bidding process.

The supply area of the parcels ranges from 1,415 to 2,876㎡, with the expected supply price between 7.8 billion and 15.7 billion KRW, which is approximately 17.72 million to 22.05 million KRW per 3.3㎡. Except for the Ilsang 3-4 (1,758㎡) parcel, which allows a floor area ratio of 500% and up to 10 floors, all other parcels have a floor area ratio of 350% and a maximum of 5 floors. The building coverage ratio is below 70% for all parcels.

The parcels can accommodate Type 1 and 2 neighborhood living facilities (excluding massage clinics and entertainment bars), sales facilities, office facilities, medical facilities (excluding psychiatric and isolation hospitals), educational and research facilities, and broadcasting and communication facilities.

Misa Riverside City, a public housing district with an area of 5.68 million ㎡ and a population capacity of approximately 92,000, offers access to Seoul's Gangnam area within 20 minutes and is adjacent to the Seoul Ring Expressway and Jungbu Expressway. Additionally, the Misa Station on the Seoul Subway Line 5 Hanam extension is about to open, providing excellent transportation networks. These conditions, combined with a pleasant natural environment along the Han River, have led previously supplied commercial lands to achieve average bid rates of 152% to 167%.

Payment can be made in equal installments with interest over two years. After paying a 10% deposit, the remaining balance can be paid in four installments every six months. For lump-sum payments, after the 10% deposit, 40% must be paid within one month and 50% within two months. Bidding applications, bid openings, and announcement of successful bidders will take place on the 15th of next month through the LH Subscription Center, with contract signing scheduled from the 22nd to the 26th. For more details, refer to the announcement posted on the LH Subscription Center or contact the LH Hanam Project Headquarters Sales Department.

An LH official stated, "Misa Riverside City is a central area connecting Seoul and Gyeonggi Province with high investment value," adding, "As the last remaining general commercial land in the Misa district, we expect significant interest from both actual users and general investors."

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