Incheon Bupyeong-gu, Cheongcheon-dong Military Base Site Development Project Priority Negotiation Candidate Selected

On the 21st, Bupyeong-gu, Incheon announced that it has selected the (tentative name) Renew Medi City Bupyeong Consortium as the preferred negotiation partner for the development project of the former military base site in Cheongcheon-dong.

The Renew Medi City Bupyeong Consortium includes Kyobo Securities as the lead company, with Korea Investment & Securities and Samsung Securities as financial investors (FI), Hyundai Engineering & Construction as the construction investor (CI), and Aneun Medical Foundation as strategic investors (SI).

The core of this public offering, the commercial and cultural facilities, will be developed on a total area of 46,600㎡. E-Land Retail will develop commercial facilities covering 38,900㎡, and an immersive art cultural exhibition facility of 7,700㎡ connected to the commercial space will be built together.

Development plan for the military base site in Cheongcheon-dong, Bupyeong-gu, Incheon proposed by the (tentative name) Renew Medi City Bupyeong Consortium [Provided by Bupyeong-gu, Incheon]

Aneun Medical Foundation plans to build state-of-the-art medical facilities on a total area of 40,000㎡, and Hyundai Engineering & Construction will construct residential facilities. In addition, plans have been proposed to create public service facilities including a 15,000㎡ park, a 5,400㎡ complex cultural center, and a public parking lot with 181 spaces.

A Bupyeong-gu official stated, "After completing negotiations with the preferred negotiation partner over the next 30 days, we plan to sign a business agreement," adding, "We will thoroughly review the selected consortium's business plan and do our best to ensure that the Sanggok and Cheongcheon areas become new landmarks of Bupyeong."