Busan Urban Corporation Expands Supply of Public Sale Housing in Eco Delta City
Blocks 1, 3, and 8 to Begin Construction and Sales in 2026
3,013 Units Under 85㎡ of Exclusive Area to Be Supplied
Busan Metropolitan Corporation (BMC, President Kim Yonghak) announced on the 12th that it will promote a new public housing supply project for three apartment blocks within the Eco Delta City waterfront district.
This project will target three blocks (Blocks 1, 3, and 8, with a total site area of 176,000 square meters) within the Eco Delta City waterfront district in Gangseo-gu, Busan. BMC plans to invest a total budget of 1.3336 trillion KRW to supply a total of 3,013 mid- and small-sized public housing units (with exclusive areas of 85 square meters or less, the size of national housing). The goal is to begin construction and start sales in 2026.
Seventy-five percent of the total supplied units will be specially allocated to households with multiple children, newlyweds, first-time homebuyers, and families with newborns, while the remaining 25% will be offered to actual homeless end-users who need to purchase their own homes.
Amid growing concerns about a decrease in future housing supply due to the recent decline in housing permits, BMC's continued supply of public housing is expected to help stabilize housing for young people, newlyweds, and other homeless citizens, as well as revitalize the stagnant local construction economy.
To date, BMC has supplied 6,433 housing units across six blocks (Blocks 11, 12, 18, 19, 20, and 24) within the Eco Delta City waterfront district. With the new supply in these three additional blocks, the total number of public housing units supplied will reach 9,446.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Not Jealous of Winning the Lottery"... Entire Village Stunned as 200 Million Won Jackpot of Wild Ginseng Cluster Discovered at Jirisan
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
- "Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①
- "How Did an Employee Who Loved Samsung End Up Like This?"... Past Video of Samsung Electronics Union Chairman Resurfaces
Kim Yonghak, President of Busan Metropolitan Corporation, stated, "We plan to provide high-quality public housing that features distinctive complex designs reflecting local characteristics, the latest residential trends, and eco-friendly building materials. We will do our utmost to expand the supply of affordable and high-quality public housing for homeless citizens and contribute to revitalizing the local economy during this challenging period for the construction industry."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
