‘Gwacheon Jijeongta’ Commercial Facility ‘Gwacheon Centum Square’ Sold Out in 3 Days, Successfully Closed

- Record-breaking competition rate with an average of 168:1 and a peak of 1616:1
- Sales closed after a 3-day period from the 13th to the 15th

‘Gwacheon Centum Square,’ a commercial facility within the ‘Gwacheon Knowledge Information Town’ that recorded an unprecedented subscription competition rate in the commercial leasing market, achieved a remarkable feat by selling out completely in just three days.

Previously, ‘Gwacheon Centum Square’ set a new subscription record with over 24,000 applications received in just one day on the 11th, achieving a highest competition rate of 1,616 to 1 and an average competition rate of 168 to 1.

In the case of commercial facilities, unlike other real estate such as apartments or officetels, a competition rate of 10 to 1 is considered a success in the industry. Products that surpassed a 10 to 1 competition rate include the commercial facilities of Doksan Lotte Castle Gold Park Phase 3, sold in 2016, which recorded a highest rate of 980 to 1 and an average of 40 to 1, and the Gongdeok Park Xi in-complex commercial facilities sold the same year, which recorded a highest rate of 297 to 1 and an average of 68 to 1, both regarded as blockbuster competition rates until now. ‘Gwacheon Centum Square’ has set a new record in the commercial leasing market by far exceeding those competition rates with an all-time high subscription competition rate.

A sales official explained, “This record is an unprecedented subscription competition rate in the history of commercial facilities, surpassing the average subscription competition rate of 164 to 1 for apartments in the Seoul area, where subscription enthusiasm was high last year,” adding, “Interest in the initial premium is also considerable as the quick sell-out was achieved.”

‘Gwacheon Centum Square’ succeeded in selling out due to its excellent location within the ‘Gwacheon Knowledge Information Town.’ It is a prime commercial facility located right next to the soon-to-open Gwacheon Knowledge Information Town Station on Subway Line 4 (scheduled to open in 2025). Additionally, with the future addition of the Indeokwon-Dongtan Line, Wolgot-Pangyo Line, and GTX-C Line at Indeokwon Station, the floating population and demand base are expected to become even richer.

‘Gwacheon Centum Square’ also has the advantage of being adjacent to the central commercial district within ‘Gwacheon Knowledge Information Town.’ Furthermore, it holds the main pedestrian flow within the nearby 8-block Business Town.

The office facility ‘Gwacheon Smart-K,’ which will be built alongside this commercial facility, has secured fixed demand from employees with nine companies confirmed to move in, including Sinsung ENG, Seonjin Engineering, Kyungdong Engineering, Ilseong Pharmaceutical, Kyungdong Pharmaceutical, Mooyoung Architecture, Leading Investment Securities, Newgens, and Geunjeong. Additionally, it is expected to absorb demand from the nearby residential town of over 8,400 households (Blocks S1 to S12).

Constructed by Hyundai Engineering, ‘Gwacheon Centum Square’ is a neighborhood living facility developed together with the office facility ‘Gwacheon Smart-K’ on Blocks 6-1 and 6-2 (two lots) in Galhyeon-dong, Gwacheon-si, Gyeonggi-do. ‘Gwacheon Smart-K’ consists of two buildings with 4 basement floors and 15 above-ground floors, totaling approximately 134,396 square meters of floor area, while the commercial facility ‘Gwacheon Centum Square’ occupies from basement level 1 to the 2nd floor. Completion is scheduled for November 2022.