Large-scale housing complex of over 3,600 units planned for occupancy: Commercial land supply in 'KTX Gyeongju Station Area'

Shin Gyeongju Station Area Public Development Co., Ltd. announced that it will supply commercial land within the Phase 1 project site of the KTX Gyeongju Station Area New Town to the general public through a lottery bidding method via Korea Asset Management Corporation's Onbid platform until October 15.

In addition to the abundant hinterland demand of the KTX Gyeongju Station Area New Town, the nationwide rapid transportation network is being established with the Gyeongbu High-Speed Line (KTX, SRT), the fully scheduled opening of the Jungang Line KTX-Eum (Cheongnyangni~Gyeongju~Busan) in December 2024, and the Donghae Line KTX-Eum (Gangneung~Gyeongju~Busan) connecting Gangwon Province to Busan. Considering the increasing tourism demand using KTX, the commercial land located at the gateway of the tourist city Gyeongju is expected to fully enjoy the premium of a wide-area triple station area.

The commercial land supplied this time is divided and supplied to lower the entry barriers for real demand or investors, based on the land that was announced for bidding around May this year. The existing 5 lots (each ranging from 1,487㎡ to 1,990㎡) are divided into a total of 10 lots. Each lot is sized between 696㎡ and 1,133㎡, with a building coverage ratio of 80% and a floor area ratio of 1,000%, yet the bid amounts are mostly set in the range of 1 to 2 billion KRW.

The success of the Phase 1 project is expected to serve as a strong driving force for the planned Phase 2 project site, Haeoreum Platform City (selected as a Ministry of Land, Infrastructure and Transport investment-leading district in December 2022). In particular, the complex transfer center, which will house key Phase 2 facilities such as a transfer parking lot, convention facilities, cultural and assembly facilities, is planned to be located next to the commercial land supplied this time. This will create synergy for mutual commercial district revitalization along with the commercial land, making it the core commercial district within the KTX Gyeongju Station Area.

The KTX Gyeongju Station Area New Town is currently being occupied starting with 945 units of Desiang, followed by 1,490 units of Bando Ubora in January next year, 549 units of Hyosung Harrington Place, and 522 units of Cheonnyeonga Centum Sky, totaling 3,506 large-scale apartment units to be sequentially occupied. Additionally, adjacent to the commercial land, a large apartment complex with 1,530 units and a residential-commercial complex with over 600 units are planned to be built.

Four commercial-use lots supplied in April this year (with an average competition rate of 16:1) and one parking lot (3:1 competition rate) were sold out, and large-scale apartment occupancy, transportation networks, and Phase 2 projects are continuously progressing.

The commercial land can be utilized for essential large-scale stores within the new town such as shopping, sales, office, education, and cinemas. Especially, the explosive increase in Gyeongju tourism demand means that this supplied land can also be used for lodging facilities within the KTX station area.

Details of the lottery bidding can be found on Onbid and the KTX Shin Gyeongju Station Area New Town website. For more information, inquiries can be made at the KTX Gyeongju Station Area New Town promotional center.

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