What Kind of Place Is City O Ciel Residential Complex City O Ciel 3rd Complex?

HDC Hyundai Development Company Hyundai Engineering & Construction POSCO Engineering & Construction (Developer DCRE)

Recently, residential complex developments have been gaining renewed attention in the real estate market. This is because they offer a luxurious housing image, excellent locations, and residential convenience, attracting many seekers. In fact, residential complexes in the new housing market have proven their popularity by recording high subscription competition rates.

In October last year, the residential complex "Byeollae Xi The Star" in Namyangju-si, Gyeonggi-do, received 85,593 applicants for 421 units (excluding special supply), achieving an average first-priority competition rate of 203.3 to 1. At that time, a total of 102,318 applicants applied, including special supply and first-priority subscriptions. The complex attracted attention as it consists of apartments, officetels, and commercial facilities.

In December, the residential complex "Hillstate Namcheon Station The First" in Namcheon-dong, Suyeong-gu, Busan, received 60,824 subscription applications for 109 units (excluding special supply), setting a first-priority competition record of 558.02 to 1. This complex is also located near a subway station, established commercial areas, and educational facilities.

This suggests that residential complexes are attracting interest as past shortcomings have been improved and a more luxurious image has been added. Unlike before, complexes that separated residential and commercial spaces to enhance comfort have emerged, replacing the previously integrated type where residential and commercial facilities coexisted. Additionally, more complexes have adopted slab-type designs instead of tower-type structures, allowing for cross ventilation. They also apply the highly preferred 4-bay design and offer community facilities and convenient locations, increasing residential convenience and interest.

Moreover, residential complexes are developed as MXD (Mixed-use Development) complexes that include residential, commercial, and office facilities, allowing residents to enjoy lifestyle infrastructure right around the complex.

As a result, the average sale price of the 84㎡ units in the residential complex "e-Pyeonhansesang Suji" located in Pungdeokcheon-dong, Suji-gu, Yongin-si, Gyeonggi-do (occupied since August 2017) rose by 295 million KRW from 905 million KRW to 1.2 billion KRW during the same period (January 2020 to January 2021). For the 98㎡ units, the price soared by 350 million KRW from 1.03 billion KRW to 1.335 billion KRW. In contrast, the apartment "Raemian Suji East Park" located in the same Pungdeokcheon-dong (occupied since October 2015) saw a more modest increase of 140 million KRW (from 820 million KRW to 960 million KRW) for the 84㎡ units.

Consequently, residential complexes about to be launched are drawing attention. A representative example is the residential complex "City O Ciel 3rd Complex," which HDC Hyundai Development Company, Hyundai Engineering & Construction, and POSCO Construction (developer DCRE) will launch in March in Michuhol-gu, Incheon.

This complex consists of 1,879 units in total, including 977 apartments ranging from 75 to 136㎡ across 8 buildings (including 2 officetel buildings) from basement level 4 to 46 floors above ground, and 902 officetel units ranging from 27 to 84㎡. A 6-screen movie theater with about 730 seats will be located from basement level 2 to basement level 1, and commercial facilities will be developed from basement level 1 to the 3rd floor. It is a transit-oriented complex within walking distance of the planned Hakik Station on the Suin-Bundang Line, which currently passes through without stopping.

A community center will be established on basement levels 1 and 2 at the center of the complex. Basement level 1 will include a small library, residents' caf?, care center, and fitness facilities, while basement level 2 will house a multipurpose gym with a climbing zone and club rooms. The complex is designed primarily with south-facing 4-bay slab-type layouts to enhance natural lighting and ventilation. The kitchen and living room are connected to provide a sense of openness, and features such as dressing rooms and alpha rooms are provided.