'The Largest Reconstruction Since Dangun' Dunchon Jugong to Get a Children's Park

Seoul City Holds 1st Urban Planning Committee Meeting of 2020
Dunchon Jugong Apartment Housing Reconstruction Maintenance Area Change Designation 'Approved as Proposed'

[Asia Economy Reporter Onyu Lim] A children's park will be created in the Dunchon Jugong Apartment complex in Gangdong-gu, Seoul, known as the "largest reconstruction since Dangun." On the 15th, the Seoul Metropolitan Government announced that it held the 1st Urban Planning Committee meeting of 2020 and approved the original plan for the designation change of the Dunchon Jugong Apartment housing reconstruction maintenance district and the revision of the maintenance plan.

The key point is that some of the cultural and social welfare facilities, which are maintenance period facilities, have been changed into a children's park (4,640㎡). A Seoul city official expressed expectations, saying, "With this decision, along with the large-scale housing construction project, a children's park will be created, securing a pleasant resting and green space for local residents."

The Dunchon Jugong Apartment, expected to be offered for sale in April, is set to be reborn as a mammoth complex with 12,032 households, making it the largest housing maintenance project ever. With 4,786 units available for general sale, it is considered a "once-in-a-lifetime opportunity" for those hoping to apply. Due to the large volume, the competition rate may relatively decrease. Also, if the general sale price is set at around 26 to 27 million KRW per 3.3㎡ due to HUG's high-price regulation, the sale price for an 84㎡ unit is likely to be set below 900 million KRW. This means that collective loans for the interim payment are possible, making fund procurement easier.