GH, Gwangju Station Area and Gwanggyo New Town 'Prime Land' for Sale

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Housing and Urban Corporation (GH) will supply five semi-residential land parcels within the Gwangju Station area urban development project in Gyeonggi Province and one neighborhood living facility land parcel in Suwon Gwanggyo New Town through a competitive bidding process.

The expected supply price for the semi-residential land in the Gwangju Station area is 14.3 million to 15.6 million KRW per 3.3㎡, and the neighborhood living facility land in Gwanggyo New Town is priced at around 13.1 million KRW per 3.3㎡. The process will be conducted via competitive bidding, with the highest bid winning the contract.

The Gwangju Station area land being supplied this time includes commercial land (32,000㎡) centered around Gyeonggi Gwangju Station, which will serve as an innovation hub, and industrial land (15,000㎡) where a youth innovation town is planned. It is located near large-scale apartment complexes, providing abundant demand from the station area’s hinterland.

The Gwangju Station area urban development project is being developed over a total area of 489,000㎡ centered on the Gyeonggang Line’s Gyeonggi Gwangju Station, which opened in 2016, and has the geographical advantage of being close to Pangyo. Additionally, transportation benefits such as the Suseo-Gwangju double-track railway, Wirye Samdong Line, and Seoul-Sejong Expressway are emerging, making it an important location in the southeastern metropolitan area.

The neighborhood living facility land in Gwanggyo New Town is located in Gwanggyo Wellbeing Town, where large-scale apartment complexes have been completed, and is near Gwanggyo Station on the Shinbundang Line, a densely populated area with high foot traffic.

Gwanggyo New Town covers a total area of 11.3 million㎡, began initial occupancy in 2011, and is in the final stages of development. In May, the Gyeonggi Provincial Government completed its move to Gwanggyo Convergence Town, where about 25,000 employees work.

Bidding applications can only be submitted online through the GH land sales system by the 28th of this month. The successful bidders will be announced on the same day as the application deadline.

GH will sign contracts with the final successful bidders on the 12th of next month for the Gwangju Station area and on the 13th for Gwanggyo New Town, respectively.