As social distancing measures are lifted after about two years and daily life recovery approaches, expectations are rising in the real estate market. The market, which had shifted mainly to non-face-to-face transactions, is expected to revive with a renewed focus on in-person visits.
Amid the recent attention on commercial facilities in the real estate market, ‘Sihwa MTV Bonitaga,’ which is successfully closing sales in ‘Sihwa MTV (Sihwa Multi Techno Valley),’ is also gaining interest.
The project site, Sihwa MTV, is a complex industrial complex located on the northern reclaimed land of Sihwa Lake in Siheung-si, Gyeonggi-do, specialized in the marine leisure sports industry. The ‘Turtle Island Marine Complex’ and the artificial outdoor surfing park ‘Wave Park,’ which opened last year, are landmarks of this area.
Additionally, various marine-related infrastructures such as the ‘Marine Ecological Science Center’ for marine and ecological education are planned to be established in Sihwa MTV. ‘Sihwa MTV Bonitaga’ is expected to benefit from the central landmark as a commercial facility located right in front of ‘Wave Park.’
Furthermore, in January this year, an MOU was signed for the nearby Bandalseom Marina development project, drawing attention as a development advantage for the upcoming ‘Inland Marina.’ In February, the Korea Water Resources Corporation announced plans to build a bridge connecting Sihwa MTV and Songsan Green City, with plans to install a Ferris wheel in the middle of the bridge, highlighting development prospects in the area. Consequently, commercial facilities in the region are also expected to benefit.
‘Sihwa MTV Bonitaga’ will be developed as a complex street shopping mall spanning from basement level 1 to the 3rd floor above ground. Various marine leisure sports facilities such as a deep diving pool, infinity pool, and aqua spa will be created to synergize with Wave Park. The mall will feature various attractions and a Spanish San Sebastian-style design, creating a themed street mall where visitors can experience the atmosphere of the European coast.
Along with approximately 100,000 residential demand within Sihwa MTV, there is an estimated abundant demand of about 400,000 workers in surrounding industrial complexes. It is accessible within 30 minutes to 1 hour by car from adjacent southwestern Gyeonggi areas including Ansan Gojan New Town, Songsan Green City, and Incheon Songdo International City, raising expectations for large-scale metropolitan demand including tourists to Daebudo Island.
The project site is located adjacent to the Sihwa Narae Dullegil trail, which runs along the perimeter of Sihwa Lake, and infrastructure construction such as the Metropolitan Area 2nd Ring Expressway is underway. Once this section opens, travel from Sihwa MTV to Seoul will be possible within an hour, greatly improving accessibility.
Nearby is the Pyeongtaek-Siheung Expressway Namansan IC, which connects to the Yeongdong Expressway, Seohaean Expressway, and Metropolitan Area 1st Ring Expressway. Oido Station, served by Seoul Subway Line 4 and the Suin-Bundang Line, is close by, and with the future opening of the planned Oido Connection Line tram and the Shinansan Line double-track railway, transportation conditions are expected to improve further.
Meanwhile, ‘Sihwa MTV Bonitaga’ is operating a model house and an on-site promotional center.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
