LH to Supply 5 Commercial Land Parcels in Siheung Janghyeon District... Abundant Foot Traffic

Location map of Siheung Janghyeon District (Photo by LH)

[Asia Economy Reporter Moon Jiwon] Korea Land and Housing Corporation (LH) announced on the 2nd that it will supply five commercial land parcels in the Siheung Janghyeon District to general end-users through a competitive bidding process.

The area of each general commercial land parcel to be supplied ranges from 1,497 to 2,669㎡, with the expected supply price at around 4.96 million to 5.35 million KRW per ㎡. Building coverage ratio of 70% and floor area ratio of 500-700% will be applied depending on the parcel.

Siheung Janghyeon District, growing as a key area in the southwestern metropolitan region, is being developed over a total area of 2.94 million ㎡ with a planned population of 48,000, and is scheduled for completion by the end of next year.

The commercial land to be supplied is located near Siheung City Hall, a bus terminal, and subway stations on three lines (Seohae Line, Sinansan Line (planned), Wolgot-Pangyo Line (planned)), making it expected to have abundant foot traffic.

The payment terms are a two-year interest-bearing installment plan, with the down payment of 10% and the intermediate and final payments divided into four equal installments every six months. The current installment interest rate is 2.3% per annum, and early payment discounts (currently 2.5% per annum) are available if paid before the due date.

Bidding applications and bid opening are scheduled for the 15th, with contract signing planned between the 21st and 28th.

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