Bongdam Naeri District Commercial Facility ‘Pride Square’ Gains Rarity

Naeri District's First Plaza Shopping Center, Basement 2 to Ground 5 Floors, Exclusive 32~188㎡

[Pride Square Perspective View]

‘Pride Square,’ a plaza shopping center making its debut within the Naeri District (Bongdam Pride City) in Bongdam-eup, Hwaseong-si, Gyeonggi-do, is gaining attention for its high rarity.

Pride Square is a plaza shopping center located within the Naeri District urban development project in Bongdam-eup, Hwaseong-si, Gyeonggi-do. It consists of two buildings from basement level 2 to the 5th floor, with a total of 100 units ranging from 32 to 188㎡ in exclusive area, and a total floor area of 14,428㎡.

The Naeri District is a private urban development project covering approximately 266,540㎡ in the Naeri area of Bongdam, Hwaseong-si, Gyeonggi-do. This area will include residential facilities such as 4,034 households in Bongdam Pride City, detached houses, and quasi-residential facilities, as well as urban infrastructure including one elementary school, five parks, two parking lots, one public office building, and roads. In particular, Pride Square is attractive as the first plaza shopping center to be established among the quasi-residential facilities in the Naeri District, allowing various business sectors to secure prime locations.

Pride Square is considered a highly scarce commercial facility in the Naeri District. Compared to the number of households (4,034) in Bongdam Pride City, the commercial site area is about 18,667㎡, which means the commercial site area per household is only 1.88㎡. Considering that the commercial site area per household in the nearby Bongdam 2 District is 3.83㎡, this is about half the size.

The scarcity of commercial facilities in the Naeri District has led to full sales of shops. For example, 25 units of the ‘Hillstate Bongdam Pride City In-Complex Shops’ supplied last December were sold out in just four days, and 17 units of the ‘Bongdam Xi Pride City In-Complex Shops’ launched in August of the same year were also sold out in less than a week.

Especially since the end of last month, with the move-in of a total of 4,034 households from ‘Bongdam Xi Pride City’ (1,701 households) and ‘Hillstate Bongdam Pride City’ (2,333 households), it is expected to absorb a fixed demand of about 12,000 people and further activate the commercial district in the area.

The location is also advantageous for attracting visitors. Pride Square is situated centrally between the sub-entrances of Bongdam Xi Pride City and Hillstate Bongdam Pride City, and is adjacent to planned public offices, an elementary school, and parks, making it favorable for attracting foot traffic.

Currently, GS THE FRESH (formerly GS Supermarket) is confirmed to open, and it is possible to attract a variety of businesses ranging from neighborhood living facilities to retail and fitness facilities. Additionally, since a significant portion of the apartment residents are families in their 30s and 40s with high purchasing power, and Pride Square is located at the very center of the Naeri District, stable operation is also feasible.

Specialized designs to revitalize the commercial facilities are also applied. The four-sided open design facilitates easy access for foot traffic, and some units offer views of the planned neighborhood park and children’s park. Furthermore, with a high ceiling of up to 5.2 meters, it provides a spacious feeling, and the installation of four elevators enhances customer convenience.

Convenient parking conditions also attract attention. The number of parking spaces has been increased to about 1.3 times the legally required number, and approximately 35% of the parking spaces are wide-type (2.6m), improving parking convenience. In addition, six electric vehicle charging stations have been installed to minimize inconvenience for electric vehicle visitors in response to the increasing demand for electric cars.

A sales official explained, “This is an island commercial district with higher demand absorption than a jar-shaped commercial district, and with the full-scale move-in of 4,034 apartment households, commercial district revitalization can be expected. Recently, with expectations of interest rate cuts and the full sales and premium of apartments and shops supplied in the Naeri District so far, the value of the area has been verified, leading to continuous inquiries from buyers.”

The sales office is located in Bongdam-eup, Hwaseong-si, Gyeonggi-do, and the completion is scheduled for the second half of 2024.