Public Offering for Rental Housing Construction-Type Apartment Sites... 5 Plots Including Seongnam Bokjeong

(Data provided by the Ministry of Land, Infrastructure and Transport)

The Ministry of Land, Infrastructure and Transport and Korea Land and Housing Corporation (LH) announced that they will hold a public contest starting from the 8th for 'rental housing construction type' apartment sites targeting a total of five lots within Seongnam Bokjeong 1, Namyangju Jinjeop 2, and Incheon Gyeyang districts.

The rental housing construction type is a system where private developers sell a portion of the sale housing they build on the apartment sites they receive to the project implementer LH, which then utilizes these as public rental housing.

LH plans to select suppliers through evaluations including the proposed rental housing sale ratio by companies, and rental housing quality (Green Building Certification, Long-life Housing Certification) within the range of 20-30% of the sale housing constructed by private developers on the apartment sites.

The contest targets a total of five lots: one lot in Seongnam Bokjeong 1 B3 block (30,777㎡), two lots in Namyangju Jinjeop 2 S-1 block and S-2 block (78,248㎡), and two lots in Incheon Gyeyang A5 block and A8 block (90,386㎡).

In November last year, the Ministry of Land announced the 'Public Land Supply System Improvement Plan' to resolve side effects of the lottery-based land supply system by selecting suppliers through evaluations of social contribution and housing quality when supplying apartment construction sites.

The rental housing construction type is one of the public land supply methods through evaluation (rental housing construction type, profit-sharing type, design contest type), which has the advantage of securing medium to large scale rental housing by purchasing sale housing built by the private sector as rental housing.

Detailed contest information can be found on the LH website. Applications will be accepted on the 12th from 1 to 4 PM. The process will proceed in the order of proposal submission and announcement of evaluation results, and if there is a single applicant, a re-contest will be held.

Kim Hyung-seok, Director of Land Policy at the Ministry of Land, said, "By selecting suppliers through evaluation, we expect to supply land to sound companies and block so-called swarm bidding that mobilizes affiliates," adding, "We will gradually expand the proportion of land supplied through evaluation and establish a healthy land supply order."

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