Supply of 304 Officetel Units in Cheongna District, Incheon

Gaesung Construction to Prioritize Sale of Two Blocks in IHP Urban High-Tech Complex... Priced Below 100 Million KRW Standard Market Value

Incheon High-Tech Park Ezium bird's-eye view. Photo by Gyesung Construction

[Asia Economy Reporter Kim Soyoung] Office-tels priced under 100 million KRW in assessed value will be supplied in the IHP (Incheon Hi-tech Park) urban high-tech industrial complex in Cheongna-dong, Seo-gu, Incheon.

Mid-sized housing company Gyesung Construction announced on the 30th that it will supply 'Incheon Hightech Park Easyum,' being built on blocks GC2-2-1 to 4 in IHP. The company plans to first supply a total of 304 units in blocks GC2-2-2 and GC2-2-4. Block GC2-2-2 will have 152 units of 7 types ranging from 21 to 38㎡ in exclusive area, and block GC2-2-4 will have 152 units of 10 types ranging from 21 to 39㎡, including studio and 1.5-room types. Among the first phase supply, 280 units, accounting for 92%, are studio types tailored to single-person household demand.

The commercial facilities attached to the officetels will be composed of 100% open-type street shops. This is expected to leverage not only fixed demand within the complex but also the advantages of three-sided corner shops.

In terms of location, it has the advantage of securing demand as the only support facility site within the IHP complex, and from a transportation perspective, the effects of the third Yeonryuk Bridge scheduled to open in 2025 and the extension of Seoul Subway Line 7 can be expected. Nearby, major development projects such as City Tower, Starfield Cheongna, Hana Financial Complex, and International Business District are planned.

Gyesung Construction explained that it can attract abundant single-person household demand and that the new officetel priced under 100 million KRW in assessed value, which is excluded from the housing count, could be an advantage. The sales promotion center is set up in the downtown Cheongna district near the project site.

Meanwhile, the IHP urban high-tech industrial complex is a high-tech industrial complex developed by investing 391 billion KRW over 1,170,531㎡ within the Incheon Free Economic Zone, focusing on attracting investment in automotive advanced parts and materials-related R&D, and is expected to be completed in 2023. Currently, large corporations and strong small and medium enterprises such as Hyundai Movex, SeAH Electronics, and AIT are located there, and last month, the Korea Air Science Testing Institute, affiliated with the Korea Refrigeration and Air Conditioning Industry Association, which supports technology development and quality improvement for the promotion and development of the cooling and heating air conditioning industry, was confirmed to move in.

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