Commercial Facility Leasing Announced Within 'Honseu Welga Jinju' Complex Following Residential Success

- Honors Welga Commercial Complex Scheduled for Sale in July
- Extensive Transportation Network and Metropolitan Commercial Area Absorbing Demand from Nearby Cities

The developer STS Development Co., Ltd. plans to lease the commercial facilities within the complex of ‘Honors Welga Jinju,’ supplied through the MXD (Mixed Development) project, under the name ‘Honors Welga Shopping Center.’

Located in the Gajwa-dong area of Jinju, Gyeongnam, the ‘Honors Welga Shopping Center’ is a commercial facility within the residential mixed-use complex ‘Honors Welga Jinju,’ situated inside the large-scale urban development project ‘Honopolis.’

‘Honopolis’ is a mixed-use development area that includes the Jinju intercity and express bus terminals, a terminal complex shopping mall, a themed street mall, and Honors Welga Jinju (a premium residential space). It is expected to establish itself as the representative commercial district of the western Gyeongnam region, which is why demand for the ‘Honors Welga Shopping Center’ is anticipated to be high.

In fact, the previously leased residential facilities of ‘Honors Welga Jinju’ received 11,191 applications for 551 units out of a total of 840 units available for general supply, showing an average competition rate of 20.31 to 1, and all housing types were fully subscribed in the first priority round, demonstrating strong demand from consumers.

In particular, the ‘Honors Welga Shopping Center’ is expected to generate synergy not only through its connection with the residential facilities but also with the themed street mall and the terminal complex shopping mall.

Moreover, the Gajwa-dong area where ‘Honopolis’ is located is a transportation hub where the intercity and express bus terminals will be established, and 29 bus routes within Jinju city pass through this area. This is expected to attract not only demand from Jinju but also populations from nearby cities such as Sacheon, Tongyeong, Uiryeong, Haman, and Hapcheon, fostering its development as the leading commercial district in western Gyeongnam.

Additionally, with the recent opening of the Space Aviation Agency and ongoing discussions about the integration of Jinju and Sacheon, if demand from neighboring cities is also absorbed, ‘Honopolis,’ where the ‘Honors Welga Shopping Center’ is located, will accommodate approximately one million people and transform into a major commercial district representing western Gyeongnam.

A representative from the Honors Welga Shopping Center leasing office stated, “Following the strong response and expected early sell-out of the previously supplied Honors Welga Jinju residential facilities, we anticipate a large influx of demand for the commercial facilities within the complex. Once the Honopolis development is completed, it will establish itself as the representative commercial district of western Gyeongnam, attracting broad investment demand.”

The ‘Honors Welga Shopping Center’ model house is located in Gajwa-dong, Jinju, Gyeongnam, and is scheduled to open in July with leasing conducted through a bidding process.