Siheung City to Publicly Sell 19,000m² Mixed-Use Development Site at 995 Wolgot-dong

South of Wolgot Station
Mixed-Use Complex Planned with Residential, Commercial, and Office Facilities

Siheung City in Gyeonggi Province will publicly sell a site near Wolgot Station on the Suin-Bundang Line, located at 995 Wolgot-dong, for a complex development project next month.

On November 18, Siheung City announced that it has issued a public notice for the sale of 19,140 square meters of land at 995 Wolgot-dong and will accept registrations from private sector participants for two days, December 1 and 2.

A panoramic view of the site at 995 Wolgot-dong, which Siheung City is promoting for complex development through a public sale. Provided by Siheung City

This public offering will be conducted through a proposal-based competitive bidding process. The site will be divided and sold as two zones: Zone 1 (14,986 square meters) and Zone 2 (4,154 square meters). The land is designated for commercial use, with the expected minimum prices set at 69.38518 billion won for Zone 1 and 18.907 billion won for Zone 2. The site allows for mixed-use development, including residential, commercial, office, and community infrastructure facilities.

The site is located south of Wolgot Station on the Suin-Bundang Line, offering excellent transportation accessibility. In particular, once the under-construction Incheon-bound KTX and the Gyeonggang Line section between Siheung and Seongnam open, rail access is expected to improve significantly. The area around the site is densely populated with commercial zones and large residential areas.

The bidding will focus on evaluating project proposals, comprehensively reviewing factors such as utilization of the location, completeness of the business plan, financial soundness, and public contribution to select the preferred negotiation partner.

Companies wishing to participate must visit the Economic Free Zone Division of Siheung City Hall in person to submit their letter of intent. The city plans to accept business applications from registered participants on February 25 next year, and select the preferred negotiation partner on February 27.

Detailed information regarding the project and the public offering schedule can be found on the notice and announcement board of the Siheung City Hall website.

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