Subway Line 7 Extension and 3rd Yeonryuk Bridge Construction... 'Cheongna The Live Tiamo' Gains Attention with Multiple Benefits

Image description=▲View of ‘Cheongna The Live Tiamo’ knowledge industry center being built in Cheongna International City

The real estate market is stirring as transportation benefits continue to emerge within Cheongna International City. The construction of the third connecting bridge linking Cheongna and Yeongjong Island has commenced after 14 years, and the extension of Subway Line 7 has passed the preliminary feasibility study, accelerating the expansion of transportation infrastructure. Additionally, the GTX-D line and the extension of Subway Line 2 are also being promoted, positioning the area to become a transportation hub in the northwest of Incheon in the future.

First, in December last year, the long-awaited third connecting bridge project in Cheongna International City broke ground. The third connecting bridge, connecting Cheongna-dong in Seo-gu, Incheon to Jungsan-dong in Jung-gu, spans a total length of 4.67 km with a width of 29 to 30 meters, featuring six lanes for two-way traffic. Scheduled for completion in 2025, this project will provide the shortest route connecting Yeouido in Seoul and Incheon International Airport.

The extension of Subway Line 7 passed the preliminary feasibility study in December 2017 and is set to begin construction in the second half of this year. This project extends the line 10.74 km from Seoknam Station on Line 7 to Cheongna International City Station on the Airport Railroad, adding six new stations. It aims to open in 2027, enabling travel times of about 30 minutes to Gasan Digital Complex and about one hour to Gangnam.

The GTX-D line project is also taking shape. The Ministry of Land, Infrastructure and Transport announced that the GTX-D line will be officially included in the 4th National Railroad Network Plan in June. The line will run from Incheon International Airport through Yeongjong, Cheongna, southern Seoul, and Hanam. Once opened, travel time from Incheon International Airport to Samsung Station in Gangnam is expected to be reduced from around 120 minutes to 45 minutes.

Another line currently under discussion for opening is the extension of Seoul Subway Line 2. This line will connect Cheongna International City to Gajeong Station and Jakjeon Station, branching towards Hongdae Entrance Station and Sindorim Station. The extension of Line 2 is expected to be decided in this year’s 4th National Railroad Network Plan after a feasibility analysis by the Ministry of Land, Infrastructure and Transport.

With these consecutive transportation developments in Cheongna International City, the real estate market is also on an upward trend. According to data from Real Estate 114, over the past year (January 2020 to January 2021), the apartment sale price per 3.3㎡ in Cheongna-dong, Seo-gu, Incheon, where Cheongna International City is located, rose by a remarkable 14.87% (from 12.91 million KRW to 14.83 million KRW). This figure surpasses the Seo-gu average increase of 12.88% during the same period.

In particular, knowledge industry centers are expected to gain significant future value due to transportation benefits. Better transportation facilitates easier commuting and reduces logistics costs.

Accordingly, ‘Cheongna The Live Tiamo,’ developed by Cheongna Co., Ltd. and constructed by SGC E-Tech Construction, will be built with a total floor area of 108,998㎡, spanning from two basement levels to ten above-ground floors. The complex will consist of 715 units in total: 86 neighborhood living facilities on floors 1 to 3, 128 manufacturing units on floors 1 to 5, 335 IT units on floors 6 to 10, and 166 office support facilities on floors 4 to 10. It will be located in the Seo-gu area of Incheon.

This complex will benefit from multiple transportation advantages within Cheongna International City, as well as existing transportation infrastructure. It offers easy access to the Gyeongin Expressway connecting Seoul’s Yangcheon-gu and the Incheon International Airport Expressway, facilitating smooth logistics movement. Additionally, it is close to BRT (Bus Rapid Transit) and GRT (Guided Rapid Transit) lines, and near Gajeong Station and Gajeong Central Market Station on Incheon Subway Line 2, enabling access to the entire metropolitan area via public transportation.

The IHP Advanced Industrial Complex, where ‘Cheongna The Live Tiamo’ will be located, covers an area of 1,179,075㎡ and consists of 18 plots. Upon completion, it is expected to generate an economic effect of 4.1938 trillion KRW and create approximately 27,000 jobs. Currently, six companies, including Hyundai Movex, SeAH Electronics, and AIT, have moved into the IHP.

As a knowledge industry center, the complex will offer differentiated products. To enhance work efficiency, landscaping with tree planting will be implemented throughout the complex, along with exclusive terraces on each floor and rooftop gardens as rest areas. The complex will also feature diverse community facilities such as fitness centers and shower facilities.

For convenience in logistics loading and storage, a shared warehouse for tenant companies will be provided, along with a drive-in system and door-to-door system to facilitate cargo truck access and loading/unloading.

The Cheongna The Live Tiamo model house is located in Seo-gu, Incheon.