Special Location Value Draws Attention to 'Sihwa MTV Wave M'

Positive Reviews for Economical Sale Prices... Growing Expectations as a Beneficiary Complex of Development Benefits

On the 25th (Tuesday), Dio Development Co., Ltd. (developer) opened the promotional center for ‘Sihwa MTV Wave M (WAVE M)’, located in the Sihwa MTV area, and officially began sales. The outstanding location of this complex has received high praise from visitors, drawing significant attention.

First, ‘Sihwa MTV Wave M’ is planned to be built on Turtle Island, which is actively being developed as a marine leisure tourism cluster, offering a unique locational value unlike anywhere else. In particular, the Wave Park, Asia’s largest artificial surfing site opened last October, is located right in front of the complex. The Wave Park includes a surf zone with an artificial surfing area of approximately 25,000㎡, and in the future, facilities such as a kids’ pool for children’s play and water activity facilities like freediving are planned. As various marine leisure facilities are gradually introduced, it is expected to establish itself as a representative surfing-centered water park. Accordingly, industry experts regard ‘Sihwa MTV Wave M’ as a lifestyle accommodation facility suitable for long-term stays targeting surfing enthusiasts, increasing its value.

The transportation conditions, a key factor of the location, are also excellent. It is adjacent to Jeongwang Station and Oido Station on Subway Line 4, as well as the Pyeongtaek-Siheung Expressway. Additionally, the Ansan-Incheon section of the Seoul Metropolitan Area 2nd Outer Ring Expressway is under development with a target opening in 2029, and the Incheon-origin KTX project is scheduled for completion in 2025. With such superior transportation infrastructure, it is expected to attract demand not only from the metropolitan area but nationwide as well.

Moreover, the largest domestic Aqua Pet Land is being established in the region, and the Marine Ecological Science Center for marine education and ecological conservation is scheduled to open in 2022. Turtle Island was designated in 2019 by the Ministry of Oceans and Fisheries as a marine leisure tourism hub, where a marine leisure complex clubhouse including a mooring yard, dry stack (boat storage facility), marina infrastructure, and mooring facility management office will be constructed.

A sales representative stated, “Due to recent regulations making it difficult to use lifestyle accommodation facilities as housing, Wave M is planned to operate as a hotel in line with its original purpose,” adding, “Since it will be managed by a team of experts, stable profitability is expected, which has led to a surge in inquiries from investors.”

Meanwhile, ‘Sihwa MTV Wave M’ attracts attention with its reasonable pricing, offering excellent price competitiveness.

Sihwa MTV Wave M consists of lifestyle accommodation facilities located in East (3BL) and West (2-1BL) sections of Turtle Island. It comprises a total of 440 units (278 units in 3BL, 162 units in 2-1BL) of lifestyle accommodation and neighborhood living facilities. As a complex in a marine leisure city, it offers oceanfront location benefits as well as a special permanent ocean view. It is also well-equipped with specialized facilities, including an infinity pool overlooking the sea and a rooftop space designed as a healing area where visitors can enjoy beautiful sunsets.

The sales price is set lower compared to surrounding market prices. For example, the 34㎡ exclusive area is priced between 350 million KRW and 385 million KRW, which is similar to the price of about 360 million KRW for a 29㎡ unit in nearby Complex A, despite the difference in size. Particularly, the main type supplied in Sihwa MTV Wave M East (3BL), the 77㎡ exclusive area, is priced in the high 700 million KRW to low 800 million KRW range, whereas Complex A’s 74㎡ units have been priced from a minimum of 970 million KRW to a maximum of 1.02 billion KRW. This means investors can invest with less capital, and guests can enjoy a larger space.

Meanwhile, the promotional centers for Sihwa MTV Wave M (WAVE M) are located in two places: near the project site in Siheung City, Gyeonggi Province, and in Gangnam-gu, Seoul.