Daewoo E&C Consortium, Simultaneous Sale of 1,698 Units in Gwacheon Knowledge Information Town

[Asia Economy Reporter Yoo In-ho] The Daewoo Construction consortium will launch sales on the 22nd with the opening of a cyber model house for a total of 1,698 households across three blocks in Gwacheon Knowledge Information Town, Gwacheon-si, Gyeonggi-do.

The Daewoo Construction consortium, including Daewoo Construction, Taeyoung Construction, and Kumho Industrial, is conducting simultaneous sales of the three complexes. Although the subscription schedules are the same, the announcement dates for the winners differ, allowing for the possibility of multiple subscription applications.

The subscription schedule is as follows: special supply on November 2, first priority on November 4, and second priority on November 4. The announcement dates for the winners are November 10 for S4 Block Gwacheon Prugio Eoullim Lavieno, November 11 for S5 Block Gwacheon Lesento Desiang, and November 12 for S1 Block Gwacheon Prugio Ortus.

The average sale price per 3.3㎡ for each complex is set at approximately 23.76 million KRW for Prugio Eoullim Lavieno, 23.73 million KRW for Lesento Desiang, and 24.03 million KRW for Prugio Ortus.

Prugio Eoullim Lavieno consists of seven buildings ranging from two basement floors to 35 above-ground floors, establishing itself as the tallest landmark apartment complex within Gwacheon Knowledge Information Town. It comprises a total of 679 households, with 90 units of 84B㎡, 55 units of 84C㎡, 162 units of 84D㎡, 81 units of 84E㎡, 188 units of 99A㎡, 73 units of 99B㎡, 20 units of 105A㎡, and 10 units of 120A㎡.

Prugio Desiang consists of six buildings ranging from two basement floors to 28 above-ground floors, with a total of 584 households: 188 units of 84A㎡, 146 units of 84B㎡, 98 units of 99A㎡, 97 units of 99B㎡, and 55 units of 107A㎡.

Prugio Ortus consists of four buildings ranging from three basement floors to 29 above-ground floors, totaling 435 households: 183 units of 74A㎡, 56 units of 74B㎡, 77 units of 74C㎡, 96 units of 84A㎡, and 23 units of 84B㎡.

The expected move-in dates are December 2021 for Prugio Eoullim Lavieno, April 2023 for Prugio Desiang, and June 2023 for Prugio Ortus.

Daewoo Construction explained that Prugio Eoullim Lavieno began construction in 2019 while preparing for sales and has currently completed the framework, making its move-in date earlier than the other complexes. Daewoo Construction is responsible for S4 and S1 Blocks, while Taeyoung Construction is handling S5 Block.

All three complexes require a 20% down payment, 60% interim payment, and 20% balance payment. Interim payment loans are available up to 40% loan-to-value (LTV) ratio for housing types priced under 900 million KRW, provided there are no existing mortgage loans, in accordance with the speculative overheated district housing mortgage loan regulations.

Subscriptions fall under private housing supplied in large-scale land development districts, with 30% allocated to first priority applicants who have resided in Gwacheon-si for over two years, 20% to first priority applicants residing in Gyeonggi-do for over two years, and the remaining 50% to first priority applicants residing in Seoul, Incheon, and Gyeonggi-do (less than two years) in that order.

For units with exclusive area of 85㎡ or less, 100% of the allocation is through the point system, while for units exceeding 85㎡, 50% is allocated through the point system and 50% through a lottery system.

When applying for units exceeding 85㎡, there is no need to specify the point system or lottery system; if the point system allocation is filled, it automatically switches to the lottery system.