"I Will Make It Better"... Construction Cost of 'Wanggil Station Royal Park City' Increased by 123.3 Billion Won

Royal Park City at Wanggil Station, scheduled for sale at the end of this month, has undertaken a ‘self-increase’ in construction costs to upgrade its products.

On the 21st, DK Asia, the project operator of Royal Park City at Wanggil Station, announced that it signed a contract to increase construction costs by 123.3 billion KRW with the contractor Daewoo E&C to enhance the value of Royal Park City at Wanggil Station.

On the 21st, Kim Hyo-jong, Vice President of DK Asia (left), and Kwak Byung-young, Executive Director of Daewoo Construction, are taking a commemorative photo after signing a contract to increase the construction cost for Wanggil Station Royal Park City.
[Photo by DK Asia]

The additional investment will be allocated to the architectural sector (102 billion KRW) and landscaping sector (21.3 billion KRW). The increase reflects recent rises in raw material prices and labor costs, and upgrades to the originally planned community facilities and landscaping will be carried out.

Previously, DK Asia also invested an additional 115 billion KRW after the sale of the 4,805-unit Royal Park City at Geomam Station, and this time, the increase for Royal Park City at Wanggil Station is even larger. Calculated per household, the amount increases by approximately 82.2 million KRW.

Royal Park City at Wanggil Station is a pilot complex of the 21,313-unit Royal Park City (Handel 3 District 8,103 units, Wanggil 1 District 4,714 units, Geomdan 3 District 4,533 units, Geomdan 5 District 3,963 units, etc.). DK Asia plans to firmly establish the foundation by developing Royal Park City at Wanggil Station well, as it is still in the early stages of the entire Royal Park City project.

To this end, DK Asia is focusing on developing Royal Park City at Wanggil Station City. They are creating specialized infrastructure, luxury landscaping within the urban area, and large-scale 6-star hotel-style community facilities. Additionally, residents will be provided with Royal Park City’s unique “Sam-sik (Three Meals)” service and the country’s largest European-style yacht Arabaetgil Sunset Tour luxury service.

Meanwhile, to expedite the Royal Park City project, DK Asia negotiated land purchases with existing owners through a consensual purchase method rather than compulsory acquisition. This is the first case in Korea where the consensual purchase method was applied in an urban development project.

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