Incheon Urban Corporation Sells Two Residential Land Parcels in Songdo 11 District

Incheon Urban Corporation (iH) announced on the 17th that it will sell residential land plots in District 11 of Songdo International City.

The two plots for sale (Rc2 and Rc3 blocks) are located in Phase 2 of Songdo 11-1 District. Although the reclamation work has been completed, infrastructure construction is still underway, so the land will be practically available for use in the second half of 2025.

The Songdo 11 District Advanced Industrial Cluster (C) specialized zone consists of a total of three areas (11-1, 11-2, 11-3) focused on creating a waterfront with industrial, research, office facilities, commercial and neighborhood living facilities, housing, parks, and green spaces. The plots for sale are adjacent to planned elementary and middle schools and kindergarten sites, and are located within walking distance of Yonsei University International Campus and Songdo Severance Hospital (scheduled to open in December 2026), which is expected to generate high demand.

Both Rc2 block (42,150.6㎡) and Rc3 block (35,359.8㎡) have a building coverage ratio of 40% or less, a floor area ratio of 160% or less, and a maximum height of 60m or less. The number of units that can be supplied is 598 units for Rc2 block and 501 units for Rc3 block. These residential land plots will be sold through general competitive bidding (highest bid wins), with minimum supply prices of 180.9 billion KRW for Rc2 block and 154.9 billion KRW for Rc3 block.

Payment conditions allow for a two-year installment plan with no interest charged until the land becomes available for use. Upon contract signing, a deposit of 10% must be paid, followed by three intermediate payments of 22.5% each, and a final payment of 22.5%. Detailed information regarding the sale of Songdo 11 District Rc2 and Rc3 blocks can be found on the iH website and Onbid.

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