[2022 Asia Construction Awards] Hanwha Construction, Jeju International Education City + Brand Power Synergy

Asia Economy Grand Prize - Brand Category

Hanwha Engineering & Construction, which received the Asia Economy Grand Prize in the brand category, is currently selling 'Forena Jeju Edu City' in Jeju English Education City, where many international schools are located. The synergy between the locational value of the education city and the residential brand power is especially anticipated.

Forena Jeju Edu City is being developed in Boseong-ri 780, Daejeong-eup, Seogwipo-si, Jeju Island, consisting of 29 buildings from basement level 1 to ground level 5, with exclusive areas ranging from 84 to 210㎡, totaling 503 households. It is a branded large complex located just 5 minutes by car from Jeju English Education City, which has emerged as a new affluent residential area in Jeju based on the highest level of educational environment in Korea.

Currently, four international schools have opened in Jeju English Education City: St. John's Beria Academy Jeju (SJA), North London Collegiate School Jeju (NLCS), Branksome Hall Asia (BHA), and Korean International School Jeju Campus (KIS).

Forena Jeju Edu City features a total floor area of 117,616㎡ (equivalent to 16 soccer fields) and a complex height of up to 5 floors, providing a pleasant residential environment. In particular, the complex has a landscaping design covering approximately 36,000㎡ (about 3.4 times the lawn area of Seogwipo World Cup Stadium), securing a landscaping ratio of over 40%. The layout includes a car-free ground level, creating a park-type eco-town. It is the only complex in the project area to have separate main and secondary entrances, reducing congestion during commuting and school hours. Additionally, an underground parking lot with 1.9 parking spaces per household has been constructed to ensure ample parking space.

Perspective View of Hanwha Forena Jeju Edu City

Inside the units, a ceiling height of 2.6m, which is 30cm higher than typical apartments, has been introduced to provide an excellent sense of openness. Furthermore, Forena's differentiated design includes the use of 250mm inter-floor noise insulation and 60mm cushioning materials to reduce noise between floors.

With the increasing preference for international schools, the sale prices of residential facilities within the English Education City have risen, with the recent transaction price for an exclusive 84㎡ unit reaching up to 890 million KRW. The sale price for Forena Jeju Edu City's exclusive 84㎡ units starts at about 670 million KRW, which is considered affordable compared to surrounding market prices. To reduce the financial burden on actual buyers, a fixed first deposit of 10 million KRW and full interest-free financing for the intermediate payment are also offered.

Lee Jung-seok, Sales Director at Hanwha Engineering & Construction, said, "Forena Jeju Edu City is a rare branded large complex located near Jeju English Education City, which is emerging as a new residential area, offering a variety of unit types to broaden buyers' choices. As it combines Forena's premium and product value, inquiries from customers continue steadily."