Prime Land Along Kumho Riverside, Gyeongsan's 'Hayang Buho District' Urban Development Project Gains Momentum

Securing Development Momentum for an Eco-Friendly City

Planned Site for Hayang Buho District.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] The urban development project for the ‘Hayang Buho District,’ which remains as ‘prime’ land along the Kumho River in Gyeongsan City, Gyeongbuk, is set to be fully launched.

The Buho District Urban Development Promotion Committee (Chairman Kyunggu Jo) announced on the 12th that it will develop a 354,842㎡ site at San 41-1, Buho-ri, Hayang-eup, Gyeongsan City, which had been restricted from development activities since 2014 due to the city master plan and zoning changes, as an urban development project.

This project is a private urban development initiative promoted by an association composed of landowners using a land readjustment method, aiming for completion by December 2025. It plans to accommodate 3,840 households and 8,500 residents, including infrastructure sites and other facility sites.

The Buho District is expected to have a high property value due to the Kumho River flowing in front of the project site, offering river views, and it also boasts an excellent educational environment worth pride.

It is equipped with outstanding educational facilities, including a newly established elementary school and walking access to Kyungil University, Hosan University, and Catholic University.

In particular, once the Kyungil University Station opens as part of the Daegu Metro Line 1 extension along National Route 4, commuting to the center of Daegu City will become possible.

Additionally, with the Gyeongsan Hayang Residential Development District and Gyeongsan Knowledge Industry Complex interconnected, roads accessible from the Daegu area are scheduled to open in 2023, which is expected to greatly contribute to regional economic development.

As a result, demand for this area is expected to be considerable, and especially with various development benefits continuing alongside the urban development project, interest is increasing, according to real estate officials.

Kim Doohwan, Executive Director of the Promotion Committee, said, “The Buho District offers a location where you can enjoy not only new town-level development but also key development projects that will enhance Hayang’s residential value through the Daegu Metro Line 1 extension.” He added, “We plan to complete the design service for this project as soon as possible and submit the project proposal to Gyeongsan City around September.”