Golf, Horse Riding, and Healthcare at Your Doorstep... BS Industry Supplies 5,000 Households with 'Second Houses' in Solaside

Supply Next Year, Design Competition This Month
Applying 'Total Real Estate Solution' Approach,
Including Implementation, Construction, and Finance

BS Industry will supply approximately 5,000 second houses next year in Solar City, an eco-friendly future city being developed in Haenam-gun, Jeollanam-do. BS Industry and its group affiliates will create a luxury second house complex through a ‘total real estate solution’ approach that combines development, construction, and financing roles.

On the 10th, BS Industry announced plans to develop the ‘Solar City Second House’ complex, consisting of about 2,000 units of SGV (Solar City Golf & Village), a residential complex within walking distance of the Solar City Country Club; 2,200 resort housing units offering various leisure activities such as horseback riding and yachting; and 1,000 healthcare units for active seniors. A BS Industry official explained, "It will be a premium second house for those dreaming of ‘5 days in the city, 2 days in the countryside’." BS Industry will launch a domestic design competition this month, with sales and supply scheduled for next year.

A bird's-eye view of the development plan for 'Solar City,' an eco-friendly future city being created in Haenam-gun, Jeollanam-do. Photo by BS Industry

The total real estate solution approach refers to a comprehensive real estate service where the developer independently handles construction, financing, and operations. This business model is emerging as an alternative amid the recent real estate market downturn, which has caused delays and failures in projects due to developer and constructor bankruptcies and project financing (PF) funding issues. In this project, BS Industry will act as the developer and handle PF and financing, while Hanyang, a group construction affiliate, will be responsible for construction.

On the 7th, BS Industry reorganized its structure for this project. The existing sales planning team and development team were restructured into the Land Business Team and Solution Proposal Teams 1 and 2, and external talent was recruited to strengthen functions. The Solution Proposal Teams serve as the core departments of the total real estate solution, overseeing development, construction, and financing of new projects. Additionally, dedicated departments for product development, design, and marketing were newly established.

To accelerate the Solar City project, BS Industry also created a separate project team. This team will sell portions of the land to public and private entities. The project site was excluded last year from the region subject to the two-home capital gains tax surcharge.

A BS Industry official stated, "We will turn the real estate market downturn crisis into an opportunity through the total real estate solution," adding, "We will boldly invest in all areas where developers can take on challenges, including creating second houses that reflect new lifestyles, to lead the market."

Meanwhile, BS Industry plans to introduce second houses through the ‘Saemangeum Shinshiyami Development Project’ in the future.

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