[Asia Economy Reporter Moon Jiwon] Korea Land and Housing Corporation (LH) announced on the 22nd that it will supply 17 parcels of neighborhood living facility land in the Siheung Janghyeon District, Siheung-si, Gyeonggi-do, through a competitive bidding process.
The land to be supplied this time is for general actual demanders, excluding the parcels reserved for original residents within the neighborhood living facility land in the Siheung Janghyeon District.
The area per parcel ranges from 598㎡ to 1,494㎡, the expected supply price is approximately 7.04 million to 9.59 million KRW per 3.3㎡, with a building coverage ratio of 60% and a floor area ratio of 230% applied.
Siheung Janghyeon District, growing as a key area in the southwestern metropolitan area, is being developed over a total area of 2.94 million㎡ with a population capacity of 48,000 people, and is scheduled for completion by the end of 2021.
It is a transportation hub equipped with lines such as the Seohae Line, Wolgot-Pangyo Line, and Shinansan Line, attracting significant market interest. With move-ins having started last year, it is expected to have abundant demand in the surrounding area.
The payment terms are a 2-year interest-bearing installment plan, with the down payment of 10% and the intermediate and final payments payable in four equal installments every six months. The installment interest rate is 2.3% per annum, and early payment before the due date is eligible for a discount (currently 2.5% per annum).
Bidding applications and bid openings are scheduled for the 30th, with contract signing planned from the 5th to the 11th of next month.
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