LH to Resell Bundang Ori Building... Estimated Price 580.1 Billion KRW

LH Bundang Ori Building Exterior View

Korea Land and Housing Corporation (LH) is planning to resell the Ori Building located in Bundang-gu, Seongnam.

On the 31st, LH announced that it will sell the Bundang Ori Building through a public competitive bidding process in accordance with the "Special Act on the Construction and Support of Innovation Cities."

The Ori Building, completed in 1997, has been up for sale since 2010 but has failed to sell 14 times so far.

The site area is 37,997㎡, the building area is 72,011㎡, with 2 basement floors and 8 above-ground floors. Although it is in a general commercial zone, its use is restricted so that sales and residential facilities cannot be constructed.

It is located in the prime area near Ori Station on the Bundang subway line, adjacent to Seongnam-daero, and close to the Bundang-Suseo road, making access to Seoul convenient.

The expected sale price is 580.1 billion KRW, and the sales contract will be signed with the highest bidder through the bidding process.

The bidding will be conducted through the Asset Management Corporation's Onbid system, and a bid deposit amounting to at least 5% of the bid price must be paid.

The handover of the building will be after December 21, 2024, which is two years from the contract signing date.

Bid submissions are due by 16:00 on November 30, and the bid opening will take place at 14:00 on December 1.

For other bidding-related details, please refer to the announcement posted on the Onbid system or contact the LH General Affairs Customer Service.

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