Large Complex of 1,540 Households with Stable Demand and Active Foot Traffic
Daewoo E&C announced on the 22nd that it will lease commercial spaces within the complex of 'Geomdan New Town Prugio The Venue,' located in AB16 Block, Geomdan New Town, Wondang-dong, Seo-gu, Incheon.
The commercial area will consist of a total of 16 stores, with 8 on the first floor and 8 on the second floor. These commercial spaces secure a fixed demand from a large complex of 1,540 households and are adjacent to the central commercial district of Geomdan New Town as well as four elementary and middle schools, resulting in active foot traffic. The new Incheon Line 1 station (scheduled for 2024) is located within a 10-minute walk, and the placement of the stores near the main entrance of the complex is also noteworthy.
Geomdan New Town is planned as a northwestern hub city with approximately 75,000 households over a total area of 11.18 million square meters, connecting Gimpo City's Pungmu District and Geomdan District downtown. Transportation developments such as the extension of Incheon Subway Lines 1 and 2 (scheduled for 2024) and the Wondang?Taeri arterial road (directly linked to Olympic-daero, scheduled for 2021) are planned. Several industrial complexes, including Geomdan 1 and 2 Industrial Complexes, are located nearby, expected to generate employment effects, making it a new town with close proximity between residence and workplace.
The leasing will be conducted through a competitive bidding process with the pre-announced price, taking place from 10 a.m. to 2 p.m. on the 30th. A deposit of 10 million KRW per store must be paid into a designated account, and the bank transfer receipt along with the required documents must be submitted at the time of application.
The winners will be announced on the same day after the application period ends on the 30th, and contracts will be signed with the winners on the following day, the 31st. The expected move-in date is August 2021.
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