The Centum 2 District in Haeundae-gu has been finally recommended as Busan City's top candidate for the 'Urban Convergence Special Zone,' a regional innovation growth hub selected among five metropolitan cities, invigorating the real estate market in Jaesong-dong, adjacent to Centum 2 District.
The 'Urban Convergence Special Zone' is a project modeled after the Pangyo Second Techno Valley, aiming to establish special zones with excellent integrated infrastructure for industry, housing, and culture in the downtown areas of five major metropolitan cities (Busan, Daegu, Daejeon, Gwangju, Ulsan). This initiative is part of the government's large-scale balanced national land development plan.
Recently, Busan City submitted Centum 2 District in Haeundae-gu as the first-priority final candidate and the Dongnam area of Gijang-gun's industrial complex as the second-priority candidate for the Urban Convergence Special Zone to the Ministry of Land, Infrastructure and Transport, with Centum 2 District emerging as the leading contender.
Centum 2 District is being developed as an extension of the current Centum City, covering a total area of 1.946㎢ across Banyeo-dong, Bansong-dong, and Seokdae-dong in Haeundae-gu. It is a large-scale development project expected to create 84,000 jobs in advanced industries such as information and communication and convergence components.
Real estate experts anticipate that if Centum 2 District is officially designated as an Urban Convergence Special Zone, the Jaesong-dong area connecting the existing Centum City and Centum 2 District will be the biggest beneficiary.
In particular, the new housing market is already heating up. A representative example is the ‘Richmond City Centum’ officetel currently under construction near Jaesong Station. Richmond City Centum is a station-area officetel located just a 3-minute walk from Jaesong Station and had already attracted attention due to the government's high-density development plan around transit stations.
Besides its proximity to the station, Richmond City Centum benefits from transportation advantages such as Busan’s first underground expressway, the ‘Mandeok-Centum Underground Expressway,’ scheduled to open in 2024, the 23km ‘Sasang-Haeundae Expressway,’ and the second phase development of the ‘Donghae Southern Line Metropolitan Railroad,’ enabling office workers to enjoy a convenient live-work lifestyle.
Other strengths of Richmond City Centum include ▲ local development projects like Wave City ▲ pleasant surrounding natural environment ▲ specialized designs not typically seen in officetels, all of which are highly preferred by both investors and end-users.
Within the area, expectations are high that the development of Hanjin CY (Container Yard) Wave City, a 54,000㎡ complex comprising offices, residences, and shopping facilities, will increase the value of nearby real estate. This has further boosted enthusiasm following the news that Centum 2 District is likely to be designated as an Urban Convergence Special Zone.
Richmond City Centum also features specialized designs tailored to the Centum living area and notable surrounding environments. Amenities for residents will include a rooftop garden, a first-floor garden designed with an art wall, and a pet ground for walking pets. Additionally, a fitness center and coin laundry will be provided within the building to enhance relaxation and convenience. Nearby, the Suyeong River, APEC Naru Park, and Olympic Park are expected to improve residents' quality of life.
A marketing representative for Richmond City Centum stated, “Following local development benefits and the selection of Centum 2 District as a candidate site, inquiries for sales consultations have exceeded expectations,” adding, “We anticipate significant premiums among those waiting to sign contracts.”
Meanwhile, Richmond City Centum, offering a total of 244 officetel units ranging from 25 to 52㎡ in exclusive area, operates a sales promotion center near Haeundae Station and conducts consultations by appointment in accordance with COVID-19 prevention guidelines.
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