by Sim NaYoung
Published 12 Mar.2024 09:14(KST)
Korea Land and Housing Corporation (LH) announced on the 12th that it will resupply parcel 508 in Iljik-dong, Gwangmyeong, currently used as the Gwangmyeong-Siheung Project Headquarters site, through a competitive bidding process targeting actual users. The land for supply is located near KTX Gwangmyeong Station, with an area of 4,667.6㎡ and a planned supply price of approximately 49.8 billion KRW, the same as the initial supply price.
Unlike the initial supply last year, this resupply will be conducted with ample time for payment schedules, which is expected to increase bidding participation from actual users.
Starting with the bid announcement on the 11th, the successful bidder will be selected on the 29th, and contracts will be signed over two days beginning April 11. Within three months from the contract signing date, 40% of the intermediate payment must be made, and the remaining 50% must be fully paid within six months. After full payment, the land must be leased to LH until December 31 of next year.
The land for supply is adjacent to the two office site parcels supplied last year and is a general commercial site that can be used for various purposes such as retail, office, cultural and assembly facilities, and lodging. For detailed information on permitted uses, please refer to the Gwangmyeong Station Area District Unit Plan.
Additionally, this land is located opposite IKEA and near Costco, Chung-Ang University Hospital, and various other living infrastructures. It also offers easy access to downtown areas such as Gangnam and Seoul Yeouido via the Gangnam Circular Expressway and the Shinansan Line (scheduled to open).
An LH official stated, “The Gwangmyeong Station area has a well-developed hinterland for commercial district formation, including knowledge industry centers, and with the planned development of the Gwangmyeong-Siheung Techno Valley industrial complex and distribution complex nearby, continuous population inflow is expected. We hope for great interest in parcel 508 in Iljik-dong, which is being resupplied this time.”
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