Forena Pyeongtaek Hwayang First-Come, First-Served Contracts... 995 Households Near Top Schools

[Asia Economy Reporter Onyu Lim] Hanwha Corporation's construction division announced on the 22nd that it is accepting first-come, first-served contracts for 'Forena Pyeongtaek Hwayang,' supplied in the Hwayang district of Pyeongtaek, Gyeonggi Province.

The first-come, first-served contracts are conducted for remaining units that were not contracted due to contract cancellations or ineligibility for subscription. Customers can directly select their desired building and unit number. Anyone aged 19 or older can visit the model house and sign a contract regardless of whether they have a subscription savings account, their place of residence, or home ownership status.

Hanwha Corporation offers financial benefits such as interest-free interim payments and a fixed amount for the first deposit to reduce the financial burden on buyers. Additionally, it is possible to resell the pre-sale rights before the ownership transfer registration.

Forena Pyeongtaek Hwayang will be developed on Block 7-2 of the Hwayang district, consisting of 10 buildings ranging from 2 basement floors to 29 above-ground floors, with a total of 995 households and exclusive areas ranging from 74 to 99 square meters. This is the first time that units larger than 84 square meters have been introduced in the Hwayang district.

The Hwayang district, where this complex is located, is the largest private-led urban development project in Korea. It covers an area of 2,792,500 square meters, comparable to Yeouido in Seoul (approximately 2.9 million square meters). A Hanwha Corporation official stated, "Once development is completed, it is expected to become the representative central residential area of West Pyeongtaek, housing about 20,000 households and 53,000 residents."

In particular, several development benefits are accelerating in the West Pyeongtaek area near the Hwayang district, raising expectations for high future value. First, the Hwayang district is close to Anjung Station on the Seohae Line double-track railway, scheduled to open in 2023. The Seohae Line is planned to be directly connected to the KTX Gyeongbu Line by 2028, enabling travel from Anjung Station to Seoul in about 30 minutes without transfers via KTX.

The expansion plan for Samsung Electronics' semiconductor factory at the Pyeongtaek campus, which allows commuting in about 30 minutes, is also considered a positive factor. When three more factories are built, totaling six lines, it is expected to create employment effects for over 1.3 million people and production inducement effects worth 550 trillion KRW.

Block 7-2 in the Hwayang district, where Forena is located, is regarded as the central area with excellent location conditions. First, the planned elementary school site is adjacent to the complex, allowing safe walking commutes, and it is close to the largest park in the district and the central commercial area.

Forena Pyeongtaek Hwayang applies Forena's unique landscaping design. It is a car-free park-style complex on the ground, harmoniously arranging various themed rest facilities. Various amenities are provided, including the water garden, Merry Kids Ground (themed playground), Vital Court (resident exercise space), Cafe Breeze (central plaza), and Pet Garden (dog playground).

The residents' community facility 'Lounge Forena,' located on basement floors 1 and 2, is equipped with diverse cultural and leisure facilities. Basement 1 includes study rooms, reading rooms, home offices, party rooms, and kids cafes, while basement 2 houses GX rooms and a golf training center. Additionally, a senior clubhouse (senior center), preschool (daycare), and a community care center are established within the complex.

Gwon Ki-young, head of sales at Hanwha Corporation's construction division, said, "Forena Pyeongtaek Hwayang adds differentiated value with various specialized designs in the core location of the Hwayang district," and added, "With large-scale benefits such as Samsung Electronics' factory expansion recently added in Pyeongtaek, it is expected to sell out quickly, especially among investors."