Defensive Apartment Stocks Resilient in Recession? ... Incheon 'Doosan We’ve The Central' for Sale

Doosan Construction Supplies 1,321-Unit Landmark Complex in Songnim-dong, Dong-gu, Incheon

Night view rendering of Incheon Songnim Doosan We've (Provided by Doosan Construction)

[Asia Economy Reporter Kim Min-young] Doosan Construction (Chairman Kwon Kyung-hoon) is drawing attention as a defensive stock in the apartment market despite the housing market downturn with its project 'Incheon Doosan We’ve The Central' being supplied in Songnim 3 District, Incheon. It is considered an apartment that receives rent well. In the stock market, dividend stocks are called defensive stocks because they pay steady dividends and their prices do not fall easily even during recessions.

'Incheon Doosan We’ve The Central,' currently being sold, is a housing redevelopment project promoted by Doosan Construction in Songnim 3 District. It is supplied in a scale of 12 buildings, from 3 basement floors to 29 floors above ground, with a total of 1,321 households. The number of units by exclusive area is composed of △39㎡ 20 units, △46㎡ 147 units, △51㎡ 108 units, △59㎡ 462 units, and △84㎡ 48 units. The entire supply consists only of small to medium-sized units under 85㎡ of exclusive area, which are highly preferred by buyers.

Near 'Incheon Doosan We’ve The Central,' there are large-scale workplaces such as Hyundai Steel, where about 11,500 people work, Hyundai Doosan Infracore, and Dongkuk Steel. These large companies have many long-term employees with high incomes. The Incheon Industrial Goods Distribution Center, which has 4,709 business sites, is also accessible within 10 minutes.

A brokerage office in Dong-gu, Incheon, explained, "There are many large companies here, so monthly rent is well received," and added, "There are almost no new apartments in Dong-gu, Incheon, so there will be high demand for monthly rent near workplaces."

The school district infrastructure is also excellent. There are 17 elementary, middle, and high schools nearby, including Seoheung Elementary, Seorim Elementary, Dongsan Middle, and Dongsan High School.

Songnim 3 District is gaining attention as Incheon Dong-gu, which had no new housing supply recently, is actively progressing with the 'Incheon Metropolitan City Old Town Development Project.' Especially, the Songnim-dong area bordering Michuhol-gu is undergoing redevelopment in 7 places, reconstruction in 1 place, and residential environment improvement in 6 places, totaling 14 maintenance projects. When the projects, including 'Incheon Doosan We’ve The Central,' are completed, about 20,000 new apartment units will be built in the old town.

This complex offers convenient access to existing living infrastructure such as large marts, parks, and hospitals. It is close to Emart Traders, Songhyeon Neighborhood Park, Songnim Gymnasium, and Incheon Regional Joint Government Building. Additionally, the Songnimgol Kkumdeulim Center, which includes a children's English library, health life support center, and multipurpose gymnasium, is scheduled to open in June next year right in front of the complex.

Incheon Doosan We’ve The Central has a rapid transportation network. It is accessible via Dongincheon Station and Dowon Station on Seoul Subway Line 1, and has good access to metropolitan transportation networks such as Incheon-daero, Gyeongin Expressway, and the 2nd Capital Area Outer Ring Expressway.

Doosan Construction plans to capture housewives' hearts with meticulous design. A south-facing design maximizing lighting and ventilation efficiency has been applied. Specialized systems such as an 'energy-saving system' for public energy reduction and efficient operation, safety systems, well-being systems, and digital systems are provided. In addition, various community facilities such as a fitness center, indoor golf practice range, daycare center, small library, and reading room will be prepared within the complex.