LH Selects WooMi Construction as Preferred Negotiation Partner for Guri Galmae Silver Stay Project

Move-in Scheduled for Late 2029
Additional Public Offering Planned Within the Year

Korea Land and Housing Corporation (LH) has selected the Umi Construction Consortium as the preferred negotiator for the first pilot project of Silver Stay, a long-term rental housing project tailored for middle-class elderly.

On the 17th, LH announced that it had selected the Umi Construction Consortium as the preferred negotiator for the Silver Stay pilot project at the B-2 block of the Guri Galmae Station area in Guri City, Gyeonggi Province. The Silver Stay pilot project is a business where the private sector supplies rental housing for more than 20 years on land provided by the public sector. The first public offering was conducted in December last year.

Aerial view of Silver Stay in the Guri Galmae Station area, Guri-si, Gyeonggi-do. Provided by LH

The project site covers an area of 34,593㎡, with a total of 725 apartment units (exclusive area of 60 to 85㎡ or less), of which 346 units will be supplied as Silver Stay. It is close to Gyeongchun Line Galmae Station (5 minutes on foot), Byeollae Station, which is planned for the GTX-B line, large hospitals, and marts.

LH plans to sign a land sale contract with the Umi Construction Consortium in December 2026 after obtaining housing construction project approval from local governments and fund investment from the Housing and Urban Guarantee Corporation. Construction is scheduled to begin in January 2027, with occupancy planned for the end of 2029.

Starting with the Guri Galmae Station area, LH plans to hold an additional public offering for about 600 Silver Stay units in the second half of this year.

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