Geumgang Housing introduces the commercial facility ‘Covent Walk Dongtan’ in Dongtan 2 New City. Previously, 22,936 applicants flocked to the ‘Dongtan Station Geumgang Pentarium The Siglo’ commercial facility, recording an average subscription competition rate of 134.92 to 1, and 100% of contracts were completed. This facility attracts high interest from demanders by accommodating not only the fixed demand of the complex residents but also the surrounding mammoth-scale hinterland demand.
Located in Dongtan 2 New City, Hwaseong-si, Gyeonggi-do, Covent Walk Dongtan consists of a total of 65 units on the 1st and 2nd floors above ground, with exclusive areas ranging from 24 to 81㎡.
The biggest advantage is that it embraces a different level of mammoth-scale hinterland demand. First, it is situated in Dongtan New City, where about 200,000 people reside, and within a 1 km radius, there are about 10,000 hinterland households. Additionally, it accommodates fixed demand from approximately 500 resident households, enabling stable operation 24 hours a day, 365 days a year.
Moreover, it is close to Dongtan Station on the GTX-A line, which was used by about 40,000 people just three days after opening, and Techno Valley Station, an extension of the Bundang Line, is currently under preliminary feasibility review. In particular, Covent Walk Dongtan is located along the movement path of floating populations from surrounding residential complexes aiming to use Dongtan Station, allowing it to absorb all effective demand. It is also evaluated to have high future value due to transportation benefits such as the GTX-A line and Dongtan Tram, making capital gains expectable. Furthermore, a metropolitan bus stop connecting to Seoul is located in front of the complex, which is expected to be advantageous for attracting floating populations.
The premium of the commercial facility brand ‘Covent Walk’ by Geumgang Housing, a renowned construction company that led success through seven rounds of sales in Dongtan New City, also raises expectations. Previously, Geumgang Housing introduced ‘Geumgang Pentarium’, ‘Geumgang Pentarium IX Tower’, and ‘Geumgang Pentarium IT Tower’ in Dongtan New City, leading trends not only in residential facilities but also in commercial and office facilities.
There is also high interest in differentiated product features befitting the brand. In particular, a design divided into three styles of spaces is applied to attract attention from the outside and provide practical layouts inside.
First, the main street space creates a sophisticated atmosphere by implementing a high-tech image, while the back street space boasts a colorful and lively atmosphere through a sloped roof and bright-colored design. Lastly, the courtyard space connected to the neighborhood park is planned to provide an open sense of space and visually dynamic images.
In addition, the actual usable space is as large as 51%, and with reasonable sale prices and rental fees, vacancy risks are low, leading to relatively hot responses from investors within the Dongtan real estate market. Specifically, there are many inquiries about large marts, franchise restaurants, beer pubs, animal hospitals, pharmacies, yoga and fitness facilities.
Meanwhile, Geumgang Housing maintains a debt ratio of 39.85%, which is lower than the industry average of 111.4%, and based on solid financial soundness with a current ratio of 286.86%, it also received the highest grade ‘AAA’ in the 2023 credit evaluation by the Housing and Urban Guarantee Corporation (HUG).
The promotional center is located in Yeongcheon-dong, Hwaseong-si, Gyeonggi-do. Geumgang Housing also introduces a chatbot service utilizing AI technology, which was opened last February, at Covent Walk Dongtan. Through this, various news about Covent Walk Dongtan can be accessed, and inquiries and consultations can be conducted. Geumgang Housing’s chatbot service is available 24 hours via the Geumgang Housing KakaoTalk channel addition or the official website.
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