Ulsan Jiwell City Xi, Increasing Inquiries Amid Expectations of Qatar-Driven Boost in Shipbuilding Industry

Expectations for Orders from Russia and Mozambique Following Qatar... Ulsan Housing Prices Rise for 10 Consecutive Months

Following Qatar, Expectations for Orders from Russia and Mozambique... Ulsan Housing Prices Rise for 10 Consecutive Months

As Korea's top three shipbuilders secure orders for LNG carriers worth tens of trillions of won, expectations are rising in the Ulsan real estate market. Consequently, with the anticipated improvement in the shipbuilding industry due to large-scale orders, the rebound momentum, especially for new apartments, is expected to become more pronounced.

On the 1st, Korea's three major shipbuilders?Hyundai Heavy Industries Group, Samsung Heavy Industries, and Daewoo Shipbuilding & Marine Engineering?signed an agreement with Qatar Petroleum (QP), Qatar's national oil company, for LNG carrier orders worth 23.6 trillion won. QP requires more than 100 LNG carriers by 2027, securing work for five years, and each shipbuilder is expected to achieve an average annual sales effect of about 1.5 trillion won.

As a result, demand is focusing on new apartments in Ulsan. In the Seobu-dong area of Dong-gu, Ulsan, inquiries continue for "Ulsan Ziwell City Xi." A sales official explained, "With the news of orders from the big three shipbuilders, the winning bidders' determination to sign contracts has strengthened, and many people, especially those who were not selected, are inquiring about the contract methods and schedules for the remaining unsold units."

"Ulsan Ziwell City Xi" consists of two complexes, with 18 buildings ranging from 5 basement floors to 37 above-ground floors, offering a total of 2,687 households with exclusive areas ranging from 59 to 107 square meters.

This complex is the largest supply in Ulsan in 30 years. During the first priority subscription on the 26th, 15,681 people applied for 2,286 units (excluding special supply), recording an average competition rate of 6.86 to 1.

The complex is designed as a car-free apartment, with facilities such as a kayak water playground, indoor gymnasium, and climbing wall planned. Systems like voice recognition AI wall pads and Syscline will be introduced.

Additionally, a public daycare center will be established within the complex, and schools such as Noksu Elementary, Hyundai Middle School, and Hyundai Cheongun High School are accessible on foot. Convenience facilities like Hyundai Department Store (Ulsan Dong-gu branch), Ulsan University Hospital, and Hyundai Art Center are also available.

The official contract signing will take place over four days from the 15th (Monday) to the 18th (Thursday). Notably, unlimited resale is allowed six months after the announcement of winners, and with the safe resale program, resale is possible before the first interim payment. The contract deposit can be paid in installments, and the entire interim payment is interest-free, so after paying the deposit, there is no additional financial burden until move-in.

The model house is located in Daldong, Nam-gu, Ulsan, and move-in is scheduled for May 2023.