Recently, the area around Siwha MTV (Siwha Multi Techno Valley) has been buzzing with various development prospects accelerating, causing the local real estate market to stir. With the realization of projects such as the creation of an advanced complex industrial park, the marine leisure tourism hub project, and transportation network improvements, the attention of demanders is increasingly focused on the area.
Siwha MTV is a project to develop a future-oriented advanced complex district on approximately 9,958㎢ of the northern reclaimed land of Siwha Lake, located in Siheung-si and Ansan-si, Gyeonggi-do. It centers on knowledge-based industries such as advanced and venture businesses, harmonizing research and development, distribution support functions, and leisure functions like tourism and recreation.
Regarding advanced industrial facilities, starting with Canon Korea’s first factory construction in 2012, the Asia’s largest logistics center, Logis Valley Ansan Logistics Center, was completed in September 2019. Notably, in 2019, the Banwol·Siwha industrial complex located in Siwha MTV was the first to be selected for the ‘Smart Industrial Complex’ implementation plan, which is expected to enhance corporate productivity, create a pleasant working environment, and generate various positive effects such as job creation through startup and new industry revitalization. Additionally, Gyeonggi-do’s selection of the Banwol·Siwha industrial complex as a ‘Gyeonggi-do-type Green New Deal’ project site, linked with the government’s Korean New Deal project ‘Smart Green Industrial Complex,’ is also considered a positive factor.
Moreover, the ‘Seoul National University Siheung Campus,’ positioned as a leading base for the 4th Industrial Revolution, completed its first comprehensive plan last October and is gaining momentum. Medical facilities such as the Siheung Baegot Seoul National University Hospital (tentative name) will also be established within the campus. Kakao has also decided to invest a total of 400 billion KRW to build a data center within Hanyang University ERICA Campus Innovation Park, which is expected to attract excellent talent.
Various tourism and leisure facilities are also being developed in Siwha MTV. In October last year, the ‘Wave Park,’ Asia’s largest artificial surfing site, opened and is currently operating. Other ongoing projects include the ornamental fish-themed park Siwha ‘Aqua Pet Land,’ the ‘Marine Ecology Science Center’ for marine education and ecological conservation, and the ‘Marine Leisure Tourism Hub,’ which consists of marine leisure cultural experiences and professional education spaces.
Various transportation benefits are also anticipated. The Ansan-Incheon section of the Metropolitan Area 2nd Outer Ring Expressway, a circular highway connecting major cities in Incheon and Gyeonggi-do, is under construction, with the Siwha MTV section (2.52㎞) scheduled to open next year. In addition to the Metropolitan Area 2nd Outer Ring Expressway, Ansan-si, where Siwha MTV is located, boasts a solid transportation environment with the Yeongdong Expressway, Seohaean Expressway, and Metropolitan Area 1st Circular Expressway passing through. It is convenient to use Line 4, Suin-Bundang Line, and Seohae Line via Wonsi Station on the Seohae Line, and the double-track Shinansan Line, which allows quick access to Yeouido, is scheduled to open in 2024. Furthermore, the Incheon-origin KTX project, which began construction last December, is expected to be completed in 2025, enabling travel to Busan in about 2 hours and 30 minutes.
As such, with Siwha MTV transforming into an advanced complex city and a marine leisure tourism hub city, along with transportation network improvements, demanders’ interest in residential facilities is also increasing. In fact, ‘Siheung Geumgang Penterium Ocean Bay,’ which was sold in August last year, successfully closed the first priority subscription with an average competition rate of 8.57 to 1, and ‘Siwha MTV Paragon,’ also subscribed in the same month, closed the first priority subscription with an average competition rate of 6.21 to 1.
Meanwhile, a new premium compact house located in a position that can fully enjoy the development benefits of Siwha MTV is attracting investors’ attention. ‘Cape The Hiarty,’ located in Ansan-si, Gyeonggi-do, is the main subject, boasting the Asia’s largest logistics center, Logis Valley Ansan Logistics Center, as its hinterland demand, and is drawing attention due to excellent accessibility to Seoul and the halo effect from Siwha MTV’s development value.
‘Cape The Hiarty’ is expected to continue attracting many investors as an attractive investment destination with stable returns. It is supplied as officetels, which are subject to relatively fewer regulations compared to apartments, allowing subscription without a subscription savings account, and even if purchased, it does not count as owning two homes for one household, thus not subject to acquisition tax surcharges. Especially, with up to 90% loan availability, investors can expect high returns in the future with a relatively small actual investment.
A sales official said, “Siwha MTV is regarded as an investment area because its future is more promising than the present due to various development prospects. Among them, Cape The Hiarty is attracting much attention even before sales because it offers more than just officetels, including terrace and penthouse specialized designs and innovative detailed floor plans that increase space utilization, providing a residential premium.”
Meanwhile, ‘Cape The Hiarty,’ built with a total of 252 units from basement level 1 to 14 floors above ground, is conducting a prize draw event for interested customers. Through a draw among interested customers on the website, luxury Hermes wallets, bracelets, ties, and more are being given away, and visitors also have a chance to win various Hermes luxury accessories such as handbags and scarves. Additionally, a subscription deposit event is underway, with a grand prize of a Hermes bracelet for one winner and a Hermes scarf for the second prize, promising unprecedented prizes and attracting much attention. Detailed information can be found on the ‘Cape The Hiarty’ website.
The sales promotion center is located in Ansan-si, Gyeonggi-do.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
