GH, Hotels Remodeled and Supplied as Rental Housing at 50% of Market Price

Gyeonggi Housing and Urban Corporation

Gyeonggi Housing and Urban Corporation (GH) is inviting applications for the 'Non-Residential Remodeling Purchase Rental Housing Project' operator.

The Non-Residential Remodeling Purchase Rental Housing Project involves remodeling (changing the use of) non-residential buildings such as hotels, commercial buildings, and offices located in prime urban areas into housing suitable for young people, then purchasing and supplying them for rent at less than 50% of the market price.

Non-profit organizations and other social economy entities can either directly purchase non-residential properties or form consortia with asset owners and private businesses to jointly apply for the project. They will be responsible for managing the remodeled rental housing and commercial spaces, as well as providing various lifestyle programs for residents and local communities.

GH will comprehensively review and evaluate location conditions, business plans, and rental operation management plans to select the final contracted purchase housing. The total scale is approximately 150 units.

Applications will be accepted from August 7 to September 7 at the GH headquarters. For more details, please visit the GH website.

Kim Seyong, President of GH, emphasized, "We will continuously discover new normal housing models that enhance the residential value for Gyeonggi residents, provide customized housing supply for tenants, and establish community space welfare anchor facilities to improve the living environment and habitability for Gyeonggi residents."

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