The Blueprint for Incheon Gyeyang New Town Development Revealed... Park Area 4 Times Yeouido, Job Space 1.7 Times Pangyo

3rd New Town Preliminary Subscription No.1
17,000 Housing Units to be Built
Four Specialized Urban Features Including Pedestrian Areas
Attracting High-Tech Industries as Self-Sufficient Spaces
New Incheon Airport Seoul-Direction Interchange Established

[Asia Economy Reporter Kangwook Cho] The development blueprint for the Incheon Gyeyang district, the first among the 3rd phase new towns in the Seoul metropolitan area to hold pre-subscription next month, has been finalized. The Gyeyang district, which will have a total of 17,000 housing units, will feature parks and green spaces four times the size of Yeouido Park, as well as job spaces 1.7 times the size of Pangyo Techno Valley. The number of units to be supplied early through pre-subscription is 1,050.

The Ministry of Land, Infrastructure and Transport announced on the 2nd that it has approved the district plan for the Incheon Gyeyang new town with these details. Gyeyang is the first among the 3rd phase new towns to have its district unit plan finalized.

According to the plan, of the total 3.3㎢ (approximately 1 million pyeong) land in Gyeyang district, 25% is designated for residential use, and the rest is subdivided into △self-sufficient functions (22%) △parks and green spaces (27%) △public facility land (26%) for development.

A total of 17,289 housing units will be built, of which 8,881 units (51.4%) are public housing. Private housing accounts for 47.7%, and detached houses 0.9%. Among the total supply, 6,066 units, or 35%, will be supplied as integrated rental housing. Integrated rental housing combines types such as permanent rental, national rental, and happy housing into one.

The pre-subscription next month covers part of 2,815 units in six blocks of public sale housing. General public sale units number 709, and newlywed hope town units number 341. The pre-subscription target housing is near Bakchon Station on Seoul Metropolitan Subway Line 1, with main subscription scheduled for 2023 and move-in expected in 2025.

The Ministry plans to develop Gyeyang district as four specialized cities: △pedestrian-friendly city △creative innovation city △childcare and education city △active smart city. In particular, 22% of the area will be developed as self-sufficient space to attract high-tech industries.

As for transportation measures, a preliminary feasibility study has been completed for the S-BRT (Spine Bus Rapid Transit) connecting Gimpo Airport Station, Gyeyang district, Daejang district, and Bucheon Sports Complex. Expansion designs for National Road No. 39 and Gyeongmyeong-daero are underway. A new interchange on the Incheon International Airport Expressway toward Seoul will also be constructed.

Meanwhile, pre-subscriptions for the remaining 3rd phase new towns will be sequentially held: Namyangju Wangsuk 2 (1,400 units) in October, Hanam Gyosan (1,000 units) in November, and Namyangju Wangsuk (2,300 units), Bucheon Daejang (1,900 units), and Goyang Changneung (1,700 units) in December. The Ministry plans to finalize district plans for Namyangju Wangsuk and Hanam Gyosan around July, and for Goyang Changneung and Bucheon Daejang around October.

Kim Kyuchul, head of the Public Housing Promotion Division at the Ministry, said, "Starting with Incheon Gyeyang, we will finalize all district plans for the 3rd phase new towns within this year and proceed with pre-subscriptions without delay to advance the opportunity for home ownership for genuine non-homeowners."

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