Geumseong Baekjo Construction, Yeoksekwon Officetel Yemi Ji Urban Core in Progress

Since the beginning of this year, housing prices in Seoul and major areas of the metropolitan area have risen significantly alongside the expansion of transportation networks across the region. This trend is expected to become even more pronounced following the government's official announcement of the 4th National Railroad Network Construction Plan (2016?2025).

In particular, Guro-gu in Seoul recorded an apartment price increase rate of 0.63% in the last week of June (as of June 28), which was relatively higher compared to the overall Seoul apartment price increase rate of 0.4%. This is attributed to the inclusion of the new Shinguro Line, connecting Daeya-dong in Siheung-si and Mok-dong in Seoul, in the newly announced 4th National Railroad Network Construction Plan on June 22.

The newly announced Shinguro Line connects Daeya Station in Siheung, Gyeonggi Province, passing through Okgil Station, Hangdong Station, Onsu Station, Gung-dong, Gaebong, Gocheok, and Yangcheon-gu Office, finally reaching Mok-dong in Seoul. This makes access to downtown Seoul much easier. It is expected to boost the real estate market sentiment in areas surrounding the new subway line.

As a result, demand is rising for new complexes being sold in areas where transportation improvements are planned. A representative example is the ‘Guro Yemiji Urban Core’ officetel, launched in June in the Guro-gu area, considered the biggest beneficiary of the Shinguro Line, which is attracting significant interest from buyers.

A sales official explained, “Due to transportation benefits such as the planned Shinguro Line railroad, inquiries from buyers interested in the Guro-gu area are continuously increasing. The convenient station-area location for commuting and ongoing improvements in transportation conditions are also drawing many inquiries from office workers in nearby areas.”

Constructed by Geumseong Baekjo Construction, Guro Yemiji Urban Core is gaining attention as an alternative to apartments in Guro-gu, where apartment prices have risen sharply and there is a shortage of small new supply. The units consist of 2 to 3 rooms, suitable for newlyweds or families of up to four members, and come equipped with built-in appliances such as a Styler, drum washing machine, double-door refrigerator, and a two-burner electric cooktop.

The location is also advantageous. It is a 7-minute walk from Oryu-dong Station on Subway Line 1, situated in a station-area location. Through the nearby Oryu IC, residents can quickly access the Nambu Beltway and Olympic-daero. Within a 1 km radius are Gocheok Dome Stadium, Costco (planned), Kim’s Club (Guro branch), and Guro Seongsim Hospital, along with nearby government offices, hospitals, and large supermarkets. Abundant green spaces such as Gaebong Neighborhood Park and Gaewoong Mountain Park are also nearby, providing excellent leisure opportunities. Furthermore, there is strong demand from office workers employed in surrounding industrial complexes such as Yeouido Financial District, Seoul Digital Industrial Complex (Gasan/Guro Digital Complex), Onsu Industrial Complex, Gocheok Tool Market, and Guro Central Distribution Complex.

Meanwhile, Guro Yemiji Urban Core, supplied in the Guro-gu area of Seoul, consists of one building with 188 units ranging from 40 to 70 square meters, spanning from three basement floors to 20 floors above ground.

The construction company, Geumseong Baekjo Construction (President Jeong Dae-sik), has extensive experience in building premium residential facilities such as Yemiji at Gurae Station in Gimpo Hangang New Town, Tangjeong Yemiji in Cheonan Asan, ‘Le Bour Naksan’ lifestyle accommodation in Yangyang, Gangwon, and ‘The Frame’ urban lifestyle housing in Seocho, Seoul. The project is scheduled for completion in March 2023.

Sales conditions reduce financial burdens with options such as contract deposit loans and interest-free interim payments. The Guro Yemiji Urban Core sales office, constructed by Geumseong Baekjo Construction, is located in Gangseo-gu, Seoul.