Jungheung Construction Supplies 94% of Pyeongtaek Brain City Land Phase 2

Pyeongtaek Brain City Wide-Area Bird's-Eye View

The special purpose company (SPC) 'Brain City Project Finance Investment,' jointly established by Joongheung Construction Group's Joongheung Togeon and Pyeongtaek Urban Corporation, has successfully completed the second land supply for 'Brain City' in Pyeongtaek, Gyeonggi Province.

A total of 66 plots (approximately 235,388㎡) including ▲1 plot of general residential land ▲1 plot of rental residential land ▲1 plot of mixed-use residential and commercial land ▲46 plots of detached housing land ▲6 plots of commercial land ▲11 plots of support facility land were auctioned through the online public auction system (Onbid) operated by Korea Asset Management Corporation (KAMCO) from February 9 to 22. As a result, 62 plots were successfully bid on, excluding 4 plots (3 commercial land plots and 1 support facility land plot), achieving a high bid success rate of 94%.

Among the plots, excluding the general residential land supplied by lottery, the highest bid rate compared to the expected supply price was for the mixed-use residential and commercial land at 184%. This was followed by ▲detached housing land at 151% ▲support facility land at 147% ▲commercial facility land at 103%.

The contract signing for the second land supply will take place over five weekdays, excluding weekends and holidays, from February 24 to March 3. Additionally, the third land supply for Pyeongtaek Brain City is planned for April.

Pyeongtaek Brain City, developed as the largest general industrial complex, is a project to create an advanced industrial complex, universities, residential, and commercial facilities on approximately 4.82 million㎡ in Doil-dong, Pyeongtaek-si, Gyeonggi Province. It is expected to have an economic ripple effect of about 1.7 trillion KRW through local production and value-added generation, as well as create approximately 7,879 jobs, contributing not only to the revitalization of Pyeongtaek's local economy but also to balanced development in the southern Gyeonggi region.

Pyeongtaek Brain City is located within 2 km straight-line distance from Suseo High-Speed Railway (SRT) 'Jije Station,' allowing access to Seoul Gangnam within 20 minutes, and is adjacent to 5 expressways, 5 national roads, and 5 railways.

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