Siheung Wave Park Prugio City, About 10,000 Subscription Rush for 275 Units... Average Competition Rate 26:1, Highest Competition Rate 132.5:1 Recorded
On the 4th, Daewoo E&C's residential lodging facility 'Siheung Wave Park Prugio City,' supplied on Turtle Island in Siwha Multi Techno Valley (MTV), recorded a highest competition rate of 132.5 to 1 and an average competition rate of 26 to 1, with all types fully subscribed.
Daewoo E&C announced that approximately 10,000 applications were received for 275 units during the subscription held on their official website from the 3rd to the 4th. Excluding duplicate payments, the average competition rate was 26 to 1. The 1.5-room and 2-room units recorded competition rates of 41.4 to 1 and 98.5 to 1, respectively.
A sales official stated, "With the opening of Wave Park, the world's largest artificial surfing site, inquiries about Siheung Wave Park Prugio City, which is being developed in connection with Wave Park, have significantly increased," adding, "Expectations for views of Siwha Lake and Wave Park were particularly high, and there were many inquiries about concierge services and community facilities."
The winners of Siheung Wave Park Prugio City were announced on Thursday, the 5th, and the official contracts will be conducted today, Friday the 6th. The contracts will take place at the model house located at 556 Samseong-ro, Gangnam-gu, Seoul, with a pre-reservation system to distribute visitor numbers. Visitors will be allowed entry only after undergoing temperature checks and disinfection as part of quarantine measures.
Siheung Wave Park Prugio City is a residential lodging facility developed on Turtle Island, Siwha MTV Turtle Commercial 4-3BL. Turtle Island, where the complex is located, is being developed as a key marine tourism cluster within Siwha MTV, an advanced marine leisure complex, raising market expectations for its future value.
Wave Park, planned as the landmark facility of Turtle Island, is an artificial surfing site covering an area of 166,613㎡. It is the first and largest of its kind in Asia. The facility features waves 200 meters long and 80 meters wide, generating about 1,000 waves per hour. In the future, attraction courses for all age groups, similar to Tokyo DisneySea, will also be introduced.
Siheung Wave Park Prugio City applies balcony designs to all units, with some units featuring duplex and terrace-specialized designs. The balconies, applied to all rooms, have a maximum area of up to 30㎡, significantly expanding usable space. The balcony doors are folding doors like those in cafes, and especially for single-floor types, the living room ceiling height is maximized to 2.9 meters to enhance openness.
All rooms are provided fully furnished with various appliances and furniture as standard. Ceiling-type system air conditioners, built-in microwaves, combo refrigerators, drum washing machines, and two-burner electric cooktops are installed, making it convenient not only for short- and long-term guests but also for use as a vacation home.
Hotel-style community facilities and concierge services are also provided. On the first floor, a luggage storage area is available for bulky items such as surfboards, and a concierge desk offers hotel-style services. The fourth floor houses premium spa, restaurant, and indoor swimming pool facilities.
The facility's entrusted operation is managed by 'Handys,' an Airbnb partner. Handys, the number one company in Korea's residential lodging facility management industry, has increased profitability through contracts without toxic clauses such as non-termination of entrustment and priority profit distribution to the operator, as well as its self-developed operation management system, earning a reputation for transparent profit sharing.
Handys is responsible for all operations and facility management, from room setup to sales, reservations, and settlements, and also provides concierge services. Using its own network, it flexibly manages the facility according to the needs of unit owners, whether for short- or long-term stays or as a second house, enhancing the convenience for unit owners.
Siheung Wave Park Prugio City consists of 275 units ranging from 26 to 120㎡, spanning from basement level 1 to the 21st floor. The scheduled move-in date is June 2023.
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