'Geomdan Golden Square' Opens Enjoying Plaza Scarcity

A Back-Demand of Over 33,000 Households... Landmark Location Adjacent to Central Plaza Commercial Area

The promotional center for ‘Geomdan Golden Square,’ a commercial complex located in front of the plaza in the central commercial district of Geomdan New Town Phase 1, Seo-gu, Incheon Metropolitan City, is currently open to great acclaim.

The ‘Geomdan Golden Square’ commercial facility is a three-sided open complex commercial building consisting of three basement floors to eight above-ground floors. It is planned to include first and second-class neighborhood living facilities, sports facilities, and educational research facilities.

The biggest advantage of the ‘Geomdan Golden Square’ commercial facility is its prime location directly adjacent to the only plaza within the commercial area. Being situated in front of the plaza naturally ensures high visibility and accessibility, making it highly popular in the rental market regardless of the region.

Another reason the ‘Geomdan Golden Square’ commercial facility and the adjacent plaza are attracting attention is the planned development of Geomdan Next Complex. The thriving commercial area around Bupyeong Station is attributed to the presence of large shopping facilities that generate foot traffic. Similarly, the ‘Geomdan Golden Square’ commercial facility and plaza site are located just across the street from the planned Geomdan Next Complex, raising expectations for a similar dynamic to that of Bupyeong and Anyang.

The Geomdan Next Complex mixed-use mall is a massive cultural complex being developed as part of the ‘101 Station (tentative name) Station Area Development Project,’ which is linked to the planned extension of Incheon Subway Line 1. It is expected to house various facilities commonly found in urban commercial districts, such as multiplex cinemas, cultural centers, large bookstores, theme parks, and convention centers, predicting a substantial number of future visitors.

Additionally, the ‘Geomdan Golden Square’ commercial facility is drawing attention due to development benefits such as the nearby legal town and the opening of the new station (tentatively named 101 Station), and it is expected to attract a strong base of consumer demand. Once the commercial area is fully established, it is anticipated to generate demand not only from the approximately 33,000 households residing in Phase 1 but also from visitors from nearby regions including Seoul, Incheon, Gimpo City in Gyeonggi Province, and Ilsan.

The ‘Geomdan Golden Square’ commercial facility is strategically located along major routes used by local residents commuting to school or work via 101 Station (tentative name) and key bus stops, allowing for repeated exposure effects.

Geomdan New Town, where the ‘Geomdan Golden Square’ commercial facility is situated, is a second-phase new town under construction in Seo-gu, Incheon Metropolitan City, being developed in three phases. It is planned to accommodate a total population of 187,081 and aims to become the central city of the northwest metropolitan area.

Among these, Phase 1 is evaluated to have high future value due to its proximity to the metropolitan area and numerous ongoing development benefits. According to Incheon Urban Corporation (iH), Phase 1 of Geomdan New Town will have a total of 31 complexes with about 33,000 households. Move-ins began in June last year, and by the end of last year, six complexes with approximately 8,000 households had been occupied.

Furthermore, the commercial land ratio in Geomdan New Town is 2.94% of the total area, with Phase 1 commercial land accounting for 1.12%. Compared to Wirye New Town’s 8.1% and Hanam Misa New Town’s 8.4%, this is about 7 percentage points lower, highlighting the high scarcity of commercial land here.

A sales representative for Geomdan Golden Square stated, “Even before opening, the location’s benefits from the plaza and Next Complex nearby have generated a lot of buzz and inquiries. We are confident in this golden location within the Phase 1 commercial land of Geomdan New Town and expect smooth sales.”