Hanshin Engineering & Construction Prepares for Sale of 'Geoje Ajudong Hanshin The Hue'

- Geoje City, Multiple Transportation Boons Including Nambu Inland Railway KTX, Gadeokdo New Airport, and Tongyeong~Daejeon Expressway Extension
- High Proportion of Outsider Investment in Record High Transactions... Also Removed from Unsold Housing Management Areas

Hanshin Engineering & Construction is launching its first ‘Hanshin The Hue’ brand complex in Geoje, which has emerged as a blue-chip real estate market due to various large-scale transportation developments.

Geoje City, Gyeongnam Province, has recently attracted attention as new apartments have been continuously setting record prices. According to the Ministry of Land, Infrastructure and Transport’s actual transaction prices, the 84㎡ unit of ‘Geoje Jangpyeong Yurim Norway Forest’ recorded a new high price of 439 million KRW in April, and in March, the 84㎡ unit of ‘Geoje Suwol Hillstate’ also set a record at 425 million KRW.

Additionally, record-breaking transactions are occurring in pre-sale rights. In April of this year, the 84㎡ unit of ‘e-Pyeonhansesang Geoje Euro Sky,’ which was pre-sold last April, was traded at a record price of 483.07 million KRW (26th floor). Furthermore, the 84㎡ unit of ‘The Sharp Geoje The Cliffe’ also changed hands in April at a record price of 459.1 million KRW.

The rising real estate market in Geoje is largely attributed to successive large-scale transportation projects. First, the Southern Inland Railway construction project, which will connect Geoje City and Gimcheon City in Gyeongbuk Province by high-speed rail with a national budget of 4.8015 trillion KRW, is set to break ground as early as 2024. Once this line opens, it will take about 2 hours and 50 minutes to travel from Geoje to Seoul via KTX and SRT.

Moreover, in February this year, the Ministry of Land, Infrastructure and Transport announced a finalized plan including the extension of the Tongyeong?Daejeon Expressway to Geoje in the ‘2nd Expressway Construction Plan.’ This project involves extending a 4-lane, 30.5 km road from Yongnam-myeon, Tongyeong City to Yeoncho-myeon, Geoje City, with a budget of 1.8811 trillion KRW, making it a long-awaited project for Geoje.

That’s not all. A new airport in the southeastern region is also being planned on Gadukdo Island, which is connected to Geoje via the Geoga Bridge. In April, the Ministry of Land, Infrastructure and Transport finalized the ‘Gadukdo New Airport Construction Promotion Plan.’ With a total project cost of 13.7 trillion KRW, the Gadukdo New Airport construction plan is about to begin the basic planning phase.

With these mammoth-scale transportation developments, which are rarely seen in other regions, investment from outsiders is increasing and the real estate market is becoming more active in Geoje.

Accordingly, attention is focused on the new sale of the ‘Hanshin The Hue’ brand complex, which Hanshin Engineering & Construction, boasting 72 years of history, is introducing for the first time in Geoje. Hanshin Engineering & Construction plans to launch ‘Geoje Ajoo-dong Hanshin The Hue’ next month in the Ajoo-dong area of Geoje City, Gyeongnam Province. The complex consists of 6 buildings, ranging from 2 basement floors to 25 floors above ground, with a total of 547 apartments of 84㎡ and 99㎡ units. The complex is composed mainly of medium to large-sized units, which are highly preferred.

Naegok Elementary School is located right next to the complex, and Daewoo Elementary School, the only private elementary school in Geoje, as well as the prestigious Geoje Middle and High Schools, are nearby, providing an excellent educational environment. Additionally, within a 1.5 km radius, there are numerous marts, banks, hospitals, and academies, creating a dense commercial and convenience facility area.

The transportation network is also outstanding. Through the nearby Songjeong IC, it is convenient to travel to metropolitan areas such as Busan, Changwon, Gimhae, and Tongyeong. The Ajoo Tunnel, Geoje-daero, and National Road No. 14 allow quick access within Geoje City’s living area. Furthermore, a new right-turn ramp at Ajoo-dong, providing fast access to Geoje-daero, is scheduled to be constructed.

The complex also boasts excellent product value befitting the symbolic first Hanshin The Hue brand complex in Geoje City. All units apply a preferred slab-type layout, and the complex is arranged mainly facing south to maximize lighting and ventilation efficiency.

Geoje Ajoo-dong Hanshin The Hue will have a model house available for viewing.