Special Design Competition for 3 Residential Land Parcels in Geomdan New Town, Incheon

Land Use Plan of Geomdan New Town [Provided by Incheon Urban Corporation]

[Asia Economy Reporter Park Hyesook] Incheon Urban Corporation (iH Corporation) will supply three residential land blocks AA28, AA29, and AA32 in Geomdan New Town through a special design competition.

The corporation announced on the 28th that it will supply residential land to companies that present creative ideas for a prestigious and differentiated spatial plan and a sustainable housing model for Geomdan New Town.

In particular, when selecting the final company, additional points will be given if a small or medium-sized enterprise participates in the construction company consortium.

Applications will be accepted starting on the 23rd of next month, and design submissions will be accepted on August 31st. The sales contract will be signed in October.

Lee Seungwoo, president of iH Corporation, said, "This is the first time that Geomdan New Town land is being supplied through a special design competition," and added, "We hope for active participation from small and medium-sized construction companies in Incheon for this residential land supply."

Designated as a second-phase new town in 2003, Geomdan New Town is a project developing 11,106,000 square meters in the areas of Dangha, Wondang, Majon, and Bullo-dong in Seo-gu, Incheon. By 2023, about 75,800 housing units will be built to accommodate approximately 187,000 residents. iH Corporation and LH Corporation are jointly implementing the project with 50% shares each.

Starting with Hoban Summit Phase 1 on the 14th of next month, 7,976 households across six blocks in the first phase of Geomdan New Town will move in sequentially within this year.

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