The commercial spaces making their debut within the development district are worth noting. Given the nature of commercial properties, where profitability depends on the demand from the surrounding area, securing a fixed customer base within the region?so-called regulars?is crucial. Moreover, being the first in the area carries symbolic value and rarity, effectively attracting the interest of potential buyers.
In fact, commercial spaces supplied for the first time within development districts have proven their popularity by achieving high bid-to-price ratios. For example, in November, 'Hills Avenue Pangyo Elfore,' launched in the Daejang District of Bundang-gu, Seongnam-si, Gyeonggi-do, attracted significant attention as the first commercial property in the district. This property recorded a high bid-to-price ratio of up to 136% in the bidding results.
In April, the 'Incheon Geomdan Seoyoung Honor City Phase 1' commercial spaces, the first to be supplied in Geomdan New Town, Seo-gu, Incheon, sold out all 62 units within about three months of the sales launch. Similarly, in August 2018, the 'Hanam Powell City' commercial spaces, the first to be supplied in the Gam-il District of Hanam-si, Gyeonggi-do, reportedly completed sales of all 48 units within just three days of starting contracts.
Meanwhile, the commercial facilities of ‘Hwaseo Station Park Prugio’ by Daewoo E&C are also attracting attention as the first commercial spaces supplied in the Daeyupyeong District. Located in Suwon-si, Gyeonggi-do, this commercial facility consists of a total of 80 units: 70 retail units across the 1st to 3rd floors and 10 neighborhood living facilities on the 1st floor.
It boasts a double subway station area with high foot traffic. Hwaseo Station, served by Subway Line 1 and the planned Shinbundang Line, is within walking distance, and a wide-area bus stop passing through Gangnam and Pangyo Techno Valley is also nearby. Additionally, the commercial facility (retail space) faces a main road adjacent to Suseong-ro and Daepyeong-ro, making vehicle access convenient.
Being located within a densely populated residential area also provides an advantage in securing residential demand. The Prugio brand town includes 2,813 households in Hwaseo Station Park Prugio apartments and officetels, and 1,125 households in the adjacent Hwaseo Station Prugio Brichiel apartments and officetels, securing a fixed demand base of 3,938 households.
Nearby, large commercial facilities, green spaces, and cultural facilities are planned, which is expected to attract visitor demand. In November 2020, a large commercial facility in Daeyupyeong District (scheduled for 2024) received final building approval. Additionally, large urban parks connected to the surrounding natural environment such as Sukjisan and Seohocheon, as well as cultural facilities remodeled from parts of the old tobacco manufacturing plant, are planned.
The commercial spaces face main roads on both the front and side, offering excellent visibility and accessibility. Optimized for customer shopping flow, they are expected to attract significant foot traffic. The tenant mix will focus on essential daily life sectors such as food and beverage, services, and education to increase customer inflow and dwell time.
Meanwhile, online subscription applications for Hwaseo Station Park Prugio commercial facilities will be accepted via the website starting Tuesday, January 5. On the following day, Wednesday, January 6, computerized lottery and winner announcements will take place. Designated contracts will be conducted over two days, Thursday and Friday, January 7 and 8, with thorough quarantine and control measures (only the contract holder may enter). The promotional center is located on-site at Hwaseo Station Park Prugio, and the sales office is set up in Suwon-si, Gyeonggi-do.
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