Additional Pre-Reservation for Land Lease Sale Housing Including Magok District 10-2 Complex

by Kwon Hyeonji

Published 11 Jul.2024 11:18(KST)

SH Corporation to Sequentially Implement Starting from Q3 This Year

Seoul Housing and Communities Corporation (SH Corporation) announced on the 11th that it will conduct additional pre-reservations for land leasehold sale housing.

Additional pre-reservations for Magok District 10-2 Complex and Godeok Gangil 3 Complex will be sequentially promoted from the third quarter of this year. The detailed supply scale and schedule will be finalized after consultation with related agencies.

A bird's-eye view of Magok District Complex 10-2, Gangseo-gu, Seoul. Photo by SH Corporation

SH Corporation started the first pre-reservation for land leasehold sale housing in Godeok Gangil 3 Complex on December 30, 2022, followed by the second pre-reservation for Godeok Gangil 3 Complex, and pre-reservations for Magok District 10-2 Complex, Magok District 16 Complex, and Wirye A1-14 Block. A total of 72,128 applicants applied for 1,856 households, recording an average competition rate of 39 to 1.

This additional pre-reservation is conducted for existing land leasehold sale housing complexes and is unrelated to the ‘Suspension of New Public Pre-sale Implementation’ announced by the Ministry of Land, Infrastructure and Transport on May 14. Magok District 10-2 Complex is the complex with the earliest scheduled main subscription (scheduled for December next year), and residents may move in as early as July 2026.

Kim Heon-dong, President of SH Corporation, said, “The land leasehold sale housing supplied by SH Corporation is a post-sale complex where the main subscription is conducted close to the completion date,” adding, “We will supply the highest quality apartments that can be lived in for a hundred years at reasonable sale prices without any setbacks. We will ensure that non-homeowners can stably achieve their dream of owning a home.”