Landmark Pilot Complex Gains Momentum... Interest in 'Songdo Xi Punggyeongchae Grenoble'

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As pilot complexes are being supplied for the first time in large-scale planned cities such as new towns, they are attracting the attention of buyers.

A pilot complex refers to a complex established in the early stages of development in large-scale planned cities like new towns. Since it serves as a 'barometer' that will lead the local real estate market in the future, developers and construction companies often put great effort into supplying these complexes. As a result, a premium worth hundreds of millions of won is formed later, due to the rarity of being a pilot complex and the value increase from development.

For example, in Pangyo New Town, ‘Pangyo Prugio Granble’ is known as a pilot complex. According to the Ministry of Land, Infrastructure and Transport’s actual transaction data, the 98㎡ unit of this complex, which was traded at 800 million won at the time of move-in in August 2011, changed hands for 2.4 billion won in June last year, tripling in about 10 years. The symbolic value of the pilot complex and the value increase from the development of Pangyo New Town resulted in a premium worth billions of won.

In Dongtan 2 New Town, ‘Unam Firstville’ was established in the early development phase. Similarly, the 84㎡ unit, which was around 300 million won at the time of move-in in 2007, was traded for 680 million won in August last year, forming a premium of over double the original price.

In Songdo International City, a representative new town in Incheon, ‘Songdo The Sharp Masterview,’ which moved in in 2015, attracted attention as the first apartment in District 3. The 84㎡ unit, which was in the low 400 million won range at the time of move-in, was sold for 865 million won in March last year, also showing a premium of more than double.

A real estate expert said, “Complexes sold in the early stages of development often lead the local market prices after completion, so they attract high interest in the new sale market. Especially, residential facilities supplied early in core development areas within planned cities such as new towns have a much higher value increase than other areas, making them an opportunity to catch both home ownership and investment gains.”

Meanwhile, ‘Songdo Xi Punggyeongchae Granoble,’ the first residential facility supplied in Songdo District 11, the core development area of Songdo International City, is gaining attention.

Constructed by GS Construction and Cheil Construction Co., Ltd., ‘Songdo Xi Punggyeongchae Granoble’ is located in Songdo-dong, Yeonsu-gu, Incheon, covering five blocks (Rc10~11, Rm4~6) in Songdo District 11. It is a large-scale residential complex with a total of 3,270 households (among the five blocks, 2,728 apartment units and 542 officetel units in two blocks). The Rc10~11 blocks consist of apartments from one basement floor to 29 floors above ground, while the Rm4~6 blocks include apartments and officetels from two basement floors to a maximum of 47 floors above ground. The apartments range from 84 to 208㎡, totaling 2,728 units, and the officetels consist of 542 units of 39㎡ each. By block, the composition is ▲RC10 block: 548 apartment units ▲RC11 block: 469 apartment units ▲RM4 block: 597 apartment units and 271 officetel units ▲RM5 block: 504 apartment units ▲RM6 block: 610 apartment units and 271 officetel units.

As a representative of Songdo International City’s District 11, significant development projects are lined up. To the south of the complex, Samsung Biologics has started constructing its second bio campus with four factories, investing a total of 7.5 trillion won, and Lotte Biologics is also planned to be established. To the north, the Yonsei Science Park (Yonsei University International Campus Phase 2) is under active development.

Transportation benefits include planned GTX-B line and the Metropolitan Area 2nd Ring Expressway. The complex is accessible to Incheon Line 1’s Technopark Station and Campustown Station. It is convenient to access Aam-daero, which connects to the 2nd Gyeongin Expressway, 3rd Gyeongin Expressway, and Yeongdong Expressway via Incheon New Port Boulevard and Songdo Bio Boulevard. The planned Metropolitan Area 2nd Ring Expressway is also expected to be easily accessible nearby.

Living infrastructure is abundant. The 800-bed Songdo Severance Hospital (construction started in December 2022, scheduled to open in December 2026) is within walking distance. Large shopping facilities such as Homeplus, Hyundai Premium Outlet (Songdo branch), and Triple Street are conveniently accessible. A large-scale commercial facility will be built at the center of the complex, and a large-scale central commercial facility within Songdo District 11 is also within walking distance. Regarding the residential environment, it is located on the waterfront, the core green infrastructure of Songdo District 11, providing a pleasant living environment, and some units are expected to have permanent waterfront views.

Meanwhile, GS Construction and Cheil Construction Co., Ltd. are conducting business briefings for ‘Songdo Xi Punggyeongchae Granoble.’ The briefings are held twice daily at 11 a.m. and 2 p.m. every Saturday and Sunday at the sales promotion center. Each briefing allows 20 participants who have made prior reservations. Reservations can be made 24 hours a day through the ‘Songdo Xi Punggyeongchae Granoble’ website. Weekend briefing reservations open every Monday, and visitors will receive a small gift.

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