Paju-si Selects 'Preferred Negotiation Partner' for US Returned Land Project

Camp Giant Urban Development... KB Securities Consortium
Camp Gary Owen Urban Development... NH Investment & Securities Consortium

Camp Giant Location Map [Provided by Paju City]

[Asia Economy Reporter Ra Young-cheol] Paju City in Gyeonggi Province held an evaluation committee meeting for the selection of private business operators for the development projects of the US Forces Korea returned land areas, Camp Giant, Camp Carroll, and surrounding areas, and selected the preferred negotiation candidates.

The city announced on the 24th, "Through the proposal evaluation committee held on the 21st, the KB Securities consortium was selected as the preferred negotiation candidate for Camp Giant, and the NH Investment & Securities consortium was selected for Camp Carroll."

The KB Securities consortium proposed an urban development project for Camp Giant that integrates medical care and tourism, while the NH Investment & Securities consortium proposed an urban development project for Camp Carroll.

Camp Garion Location Map [Provided by Paju City]

The KB Securities consortium proposed an urban development project including approximately 6,500 single-family and multi-family housing sites by investing a total of 495.6 billion KRW in Camp Giant and the surrounding area, along with a specialized plan for medical care and tourism.

The NH Investment & Securities consortium proposed an urban development project including approximately 3,200 single-family and multi-family housing sites by investing a total of 334 billion KRW in Camp Carroll and the surrounding area, along with plans for public returns such as the installation of urban infrastructure.

The city plans to conclude a basic agreement with the preferred negotiation candidates by August after consultations and to actively proceed with administrative procedures starting next year.

Meanwhile, the public offering projects for Camp Giant (480,000㎡) and Camp Carroll (690,000㎡) located in Seonyu-ri, Munsan-eup, were publicly offered twice in 2015 and 2019, but no proposals were received at that time.

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