In early April, the ‘Cheonan Hanyang Sujain Eco City’ complex, located in Cheonan City, Chungnam Province, which consists of a mini new town-scale large complex with 3,200 households, received a total of 7,715 subscription applications and was fully subscribed within the ranking.
‘Cheonan Hanyang Sujain Eco City’ is not only the largest apartment complex supplied in Cheonan City to date but also closed comfortably within the ranking, contrary to initial expectations, creating a successful joint project by the trustee H&Partners, the developer Kyobo Asset Trust, and the construction company Hanyang Co., Ltd.
Although many domestic sales projects have been carefully prepared but failed to achieve satisfactory results, the ‘Cheonan Hanyang Sujain Eco City’ sales project dispelled surrounding concerns and successfully completed subscriptions, receiving high praise in the construction industry for its excellent start.
Currently, the domestic apartment sales market is performing well in the metropolitan area and some large cities, but due to continuous government regulations, local areas are facing considerable difficulties. The ‘Cheonan Hanyang Sujain Eco City’ case shows that with close cooperation among the trustee, developer, and construction company, success is possible even in challenging situations.
Jo Hyuk-jong, CEO of Kyobo Asset Trust, the developer of ‘Cheonan Hanyang Sujain Eco City,’ expressed strong enthusiasm and confidence, stating, “With the successful sales of Cheonan Hanyang Sujain Eco City as a milestone, our company will not only strengthen development trust projects but also contribute to supplying high-quality apartments at reasonable prices in cooperation with developers.”
Established in 1998 as Saengbo Real Estate Trust, Kyobo Asset Trust was incorporated as a 100% subsidiary of Kyobo Life Insurance in 2019 and changed its name to Kyobo Asset Trust in 2020. Since then, it has begun to stand out in the industry by successfully carrying out major projects.
First, through a responsibility-completion type land trust project, it secured a complex commercial building with a total floor area of 23,665.83㎡ in the Hwamaesil District of Suwon in April last year, followed by winning a new construction project for a residential-commercial complex in Guseo-dong, Geumjeong-gu, Busan, consisting of 145 apartments, 26 officetels, and neighborhood living facilities.
Additionally, through a borrowing-type land trust project, it consecutively secured a 523-household apartment construction project in Seoknim-dong, Seosan City, Chungnam, in December last year, and the 3,200-household apartment project ‘Cheonan Hanyang Sujain Eco City’ in Cheonan City, achieving excellent results and raising Kyobo Asset Trust’s status in the development trust industry.
Meanwhile, the trustee H&Partners is also emerging as a dark horse in the real estate development industry with the successful sales of ‘Cheonan Hanyang Sujain Eco City.’ H&Partners started regional cooperative housing projects in Cheongju in 2013 and expanded to nearby Cheonan, Asan, Pyeongtaek, and even Incheon Songdo. It has demonstrated outstanding business capabilities through various construction projects and proved its excellent development ability by breaking expectations of difficult sales and achieving good results this time.
In particular, ‘Cheonan Hanyang Sujain Eco City’ introduced innovative designs such as the 84㎡ 5.5-bay layout and household separation-type layout, which were previously seen only in large flat types, creating a great response from buyers and contributing to the successful subscription.
The household separation-type layout, which attracted significant attention this time, allows two households to live together, emerging as a solution to soaring housing prices and rental difficulties for buyers who want to own a home with limited funds and tenants alike. Among the total 3,200 households in ‘Cheonan Hanyang Sujain Eco City,’ 962 units of 84㎡ A and B types are configured as household separation types.
The trustee H&Partners actively promoted the introduction of innovative layouts such as the 5.5-bay and household separation-type layouts for the first time in the 84㎡ mid-small size, which is evaluated as a key factor in gaining high responsiveness from buyers.
‘Cheonan Hanyang Sujain Eco City,’ expected to become a new landmark in Cheonan, consists of 30 buildings ranging from 2 basement floors to 29 above-ground floors, with a total of 3,200 households of exclusive areas from 59 to 84㎡. It is adjacent to Cheonan’s famous ‘Taehaksan Natural Recreation Forest’ and features abundant landscaping areas of 55,241㎡ within the complex, promising a pleasant living environment.
Moreover, to allow residents to enjoy leisure, exercise, and shopping within the complex, community facilities and neighborhood living facilities, as well as a large commercial facility of 14,251㎡ (about 4,300 pyeong), will be established inside the complex. This area will include a large market, a large fitness center, a large caf?, a food court, clinics (internal medicine, otolaryngology, etc.), pharmacies, and other convenience facilities, enabling a one-stop lifestyle.
Following the announcement of winners on the 16th, contracts will be conducted from the 27th to May 11, and the model house is located in Asan City, Chungcheongnam-do.
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