Hyosung Heavy Industries Co., Ltd. and Jinheung Enterprise Co., Ltd. have successfully opened the model house for 'Harrington Mare,' built through the Uam 1 District Housing Redevelopment Project, on the 17th, raising expectations for the upcoming subscription next week.
Harrington Mare is expected to attract significant attention from buyers as a landmark residential complex representing Nam-gu, Busan, featuring specialized designs, community facilities, and landscaping befitting a luxury apartment, including Busan's first triple sky bridge.
In addition to its high product value, the complex draws attention due to its low contract burden and lenient subscription qualifications. It offers financial benefits such as a fixed first deposit of 10 million KRW and full interest-free installment payments, easing the burden on buyers in the current high-interest-rate era.
The first-priority subscription eligibility requires applicants to be at least 19 years old, have been subscribed to a subscription savings account for more than six months, and meet the deposit requirements by region and area. Residents of Busan, Ulsan, and Gyeongnam can apply regardless of home ownership or household head status. Since it is located in a non-regulated area, the entry barrier for subscription is low.
Fast contract completion news from complexes launched in Busan this year also raises expectations for Harrington Mare's subscription results. Most complexes launched this year in Nam-gu, such as 'Daeyeon DIEL,' 'Doosan We've The Zenith Ocean City,' and 'Lotte Castle Infiniel,' have reported sell-outs. In this situation, Nam-gu, Busan, is even known among investors from the metropolitan area and Gyeongnam as 'Seoncheong Hugom' (subscribe first, worry after winning). Regardless of region, those who joined a subscription savings account before the announcement date can apply for second-priority subscription regardless of subscription period or deposit amount.
The sales schedule starts with special supply on November 27, followed by first-priority subscription on the 28th and second-priority subscription on the 29th. Winners will be announced on December 5, and official contracts will be conducted over three days from the 18th to the 20th.
A sales official stated, "Since the successful opening, many people have praised the complex, raising expectations for the upcoming first-priority subscription next week," adding, "Harrington Mare, a luxury apartment that preempts future value in front of Bukhang Port in Nam-gu, Busan, known as the new residential hub, is expected to achieve good results in the subscription due to its high product completeness and various financial benefits that reduce the burden on contract holders."
In particular, Harrington Mare applies numerous product designs befitting a luxury apartment, promising to become a highly symbolic landmark in the region. Each unit features a 4Bay layout and slab-type cross ventilation structure depending on the type, with dress rooms, kitchen pantries, and entrance storage to enhance space efficiency. Additionally, pleasant natural views are secured, allowing various views depending on the location of each unit.
Moreover, landscaping designs with natural concepts, including various themed gardens and distinctive theme roads, are applied. Notably, three sky bridges?the first in Busan?are strategically placed as specialized community facilities to further boost residents' pride. The three sky bridges house a sky party room (15th floor), sky guest room (26th floor), and sky lounge (35th floor), respectively.
Other community facilities planned include a fitness center and GX room, golf practice range, screen golf, billiards room, table tennis zone, indoor and outdoor swimming pools within the complex, sauna, karaoke room, DIY room, cultural lecture room, cinema room, business center, male and female reading rooms, and a small library.
Interest in the Bukhang redevelopment is also high among buyers, as Harrington Mare is adjacent to the Bukhang redevelopment area, which has been gaining attention due to the recent enthusiasm for hosting the 2030 World Expo.
Regarding the Bukhang redevelopment project, it is about four times the size of Centum City, with an expected economic ripple effect of approximately 31.5 trillion KRW. The first phase, covering 920,000㎡ including Piers 1 to 4 and the central pier, completed infrastructure construction last year. The second phase (targeted for completion in 2030) passed the preliminary feasibility study in October 2022, with plans to complete various administrative procedures required for groundbreaking by early 2024. The third phase of the Bukhang redevelopment, which involves relocating the US military's 55th Supply Depot and Pier 8 in Dong-gu to near Sinseondae Pier in Nam-gu and developing a 3.1 million㎡ area including Piers 7-8, Uam Pier, Uam CY, and Singamman-Gamman Pier, has also raised expectations following Busan City's announcement of the promotion plan in August this year.
The complex also boasts excellent location conditions. It is about a 10-minute drive to Busan Station, Seomyeon, and Kyungsung University area, with convenient access to nearby amenities such as Hyundai Department Store, Homeplus, and E-Mart. It boasts a safe school district including Seongcheon Elementary School within walking distance, Daeyeon Middle School, Seongdong Middle School, Seongji High School, Baejeong High School, Kyungsung University, and Pukyong National University. It also offers green spaces such as Uam-dong Urban Forest and Uryongsan Park.
Various events related to subscription and contracts will also be held. First, a subscription certification event will offer various prizes such as UHD TVs, drum washing machines, and stylers through a lottery for customers who visit the model house, participate in the event, and leave subscription certification. Additionally, official contract holders (including preliminary winners) will be entered into a lottery to win prizes such as a first-place full-option free upgrade and a second-place vacuum cleaner. The first-place prize, the full-option free upgrade, covers the entire paid option cost for the winner's contract type, amounting to approximately 40 million KRW for a 59㎡ unit and about 60 million KRW for an 84㎡ unit.
Meanwhile, the Harrington Mare model house is located in the Udong area of Haeundae-gu, Busan.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
