Sale of Two Apartment Land Blocks in Incheon Songdo... Conditional on Compliance with Landscape Master Plan

Blocks A9 and A17 in Section 6 to be Sold via Open Competitive Bidding
Overlooking the West Sea and Incheon Bridge... Creating a High-Quality Scenic View

Location map of the land for sale in District 6, Songdo International City [Provided by Incheon Free Economic Zone Authority]

[Asia Economy Reporter Park Hyesook] Two residential land plots in Songdo International City, Incheon, which will offer views of the West Sea and Incheon Bridge and be developed with high-quality landscapes, will be sold within this month.

The Incheon Free Economic Zone Authority announced on the 15th that it will sell residential land plots A9 and A17 located in Songdo District 6 through a public competitive bidding process.

Block A9 (Songdo-dong 396-1) covers an area of 67,774㎡ with an expected sale price of approximately 237.2 billion KRW. Block A17 (Songdo-dong 396-11) spans 104,556㎡ with an expected sale price of about 344.5 billion KRW.

No separate briefing session will be held for the sale. To participate in the bidding, applicants must first register as members on the electronic bidding system operated by Korea Asset Management Corporation (KAMCO) and pay a bid deposit (at least 10% of the bid amount) within the bidding period.

Blocks A9 and A17 are located in areas offering views of the West Sea and Incheon Bridge. Notably, these areas are where the Incheon Free Economic Zone Authority is focusing on creating high-quality landscapes, and conditions related to landscape development will be imposed upon sale. The successful bidder must comply with the detailed landscape plan for Songdo Landmark City (Districts 6 and 8) and the pre-landscape consultation operation standards.

The Incheon Free Economic Zone Authority has prepared landscape enhancement measures for three residential land blocks?A9, A17, and A12?in Songdo District 6, which are being sold sequentially this year and next, and has been applying these measures since last month.

They introduced regulations on the average building height (110?130m), raising the maximum building height from the previous 110?130m to 130?150m, an increase of 20m. Additionally, from the early design stages, landscape experts’ advice is sought on building design, and landscape reviews related to building height, layout, and facade are being strengthened.

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