DL E&C's Large Complex of 1,458 Households 'ePyeonhansesang Geomdan Well County' Draws Attention

- Large Complexes with Over 1,000 Households Continue to Be Popular in the Subscription Market... Significant Price Differences Based on Complex Size
- ‘ePyeonhansesang Geomdan Well County’ Features 16,000㎡ Landscaping Area and Diverse Community Facilities

This month, a mammoth-scale complex with over 1,000 units is launching in the Seoul metropolitan area, drawing significant attention from prospective buyers. This is attributed to the symbolic value of large-scale apartment complexes. Such complexes offer well-equipped internal landscaping and community facilities, along with the advantage of active transactions.

According to real estate data from Real Estate R114 on September 7, the total number of large-scale complexes with over 1,000 units (excluding rentals) either sold or scheduled for sale in the metropolitan area this September is 6,048 units, which accounts for only about 37.94% of the total supply of 15,942 units. This is roughly half the proportion compared to the previous month (70.74%), highlighting the rarity value of large-scale complexes.

In fact, large-scale complexes have shown high popularity in this year’s subscription market. In August, ‘Lotte Castle East Pole’ in Gwangjin-gu, Seoul, recorded an average competition rate of 98.44 to 1 for first-priority applicants, followed by ‘Raemian La Grande’ in Dongdaemun-gu with an average competition rate of 79.11 to 1. Both complexes were supplied as large-scale developments with 1,063 units and 3,069 units respectively. In Gyeonggi Province, ‘Gwangmyeong Central I-Park,’ a complex with a total of 1,957 units launched in August in the Gwangmyeong area, recorded an average competition rate of 18.94 to 1 for first-priority applicants.

Price differences also vary significantly depending on the size of the complex. According to KB Real Estate market data, the sale price for an 84㎡ unit in ‘LuOne City Pradium’ (completed in March 2018), a complex with 1,598 units located in Seo-gu, Incheon, was 600 million KRW as of September this year. In contrast, the sale price for the same size unit in ‘A’ (completed in December 2017), a complex with 743 units located opposite, was 492.5 million KRW. Despite similar locations and move-in periods, there is a price difference of over 100 million KRW depending on the complex size.

Industry experts analyze that the size of an apartment complex has become a benchmark for assessing the future value and stability of the complex, which also influences market prices. Additionally, the scarcity of sites for complexes with over 1,000 units in the metropolitan area further enhances their rarity.

Meanwhile, the consortium of Incheon Urban Corporation and DL E&C plans to launch ‘e-Pyeonhansesang Geomdan Well County’ in block AA10-1 of Geomdan New Town, Seo-gu, Incheon, this September. This complex will consist of national housing units under 85㎡ (59㎡, 84㎡) and private housing units over 85㎡ (104㎡), with 14 buildings (including 3 terrace buildings) ranging from 2 basement floors to 25 above-ground floors, totaling 1,458 units in a large-scale complex.

Within the complex, approximately 16,000㎡ of landscaping space called ‘DeuPoem Park’ will be created, along with facilities such as Misty Foret equipped with mist spray devices to reduce fine dust, a glamping garden, and an art garden, forming four different themed gardens.

Community facilities will include an indoor golf practice range, screen golf room, family exercise room, fitness center, kids’ gym, kids’ lounge (a shared care center), private offices, study rooms, lounge caf? (small library), detached guest house, party room, green caf?, daycare center, and senior lounge.

Notably, DL E&C, the construction company for the complex, has not had a single defect case this year, promising high quality and construction stability for the apartments. According to the Ministry of Land, Infrastructure and Transport’s Defect Review and Dispute Mediation Committee on September 6, DL E&C had zero defect cases requiring repair obligations through dispute mediation from January to August. This is considered a remarkable achievement amid ongoing disputes related to poor apartment construction and defects.

Meanwhile, the housing exhibition hall for e-Pyeonhansesang Geomdan Well County is planned to be set up in Cheongna-dong, Seo-gu, Incheon.