LH Conducts First Land Supply in Uiwang Cheonggye 2…Starting Bid Price 59.4 Billion KRW

On the 6th, Korea Land and Housing Corporation (LH) announced that it will hold a bid on the 23rd for residential-commercial complex land within the Uiwang Cheonggye 2 Public Housing District, targeting housing construction businesses.

Location Map of Supply Land

The supply lot has an area of 9,479.5㎡ (approximately 2,900 pyeong), a building coverage ratio of 60%, and a floor area ratio of up to 200%, with a starting bid price of about 59.4 billion KRW.

The payment terms allow for a 5-year interest-free installment plan with a 1 year and 6 months grace period. After paying a 10% down payment, the intermediate payments can be made starting 18 months later.

Notably, this supply lot permits apartment construction up to 90% of the total floor area (floor area ratio up to 180%), is located just a 1-minute walk from the future Cheonggye Station (Wolgok-Pangyo Line), and is near large-scale urban support facilities planned to be established, which is expected to attract significant interest from actual users in the future.

The Uiwang Cheonggye 2 District, where the supply lot is located, is a public housing district planned over 264,547㎡ (approximately 80,000 pyeong) in the Cheonggye-dong and Poil-dong areas of Uiwang City, with a planned population of 4,562. When connected with the adjacent Uiwang Cheonggye 1 District to the north, a living zone of about 180,000 pyeong and a population of approximately 10,000 will be formed.

Additionally, public transportation access to Seoul’s Seocho and Gangnam districts, Gwacheon City, Anyang Indeokwon, Baegun Knowledge and Culture Valley, and Pangyo is excellent, and travel to nearby areas is convenient via the Seoul Ring Expressway and Gwacheon-Bongdam Expressway.