LH, 2nd Public Offering for 'Private Proposal' Specialized Purchase Rental

Private Proposal Type Applications Accepted from February Next Year
Specific Theme Type Applications Open from the 3rd of Next Month

Korea Land and Housing Corporation (LH) announced on the 28th that it began the second round of the 'Specialized Purchase Rental Housing' private free proposal-type public contest starting from the 27th.

The 'private free proposal-type' is a specialized purchase rental housing where private businesses propose themes suitable for tenants such as youth and newlyweds. Specialized purchase rental housing provides tenant-customized living spaces and community facilities.

Originally, LH planned to hold the contest once a year, but due to the large number of applications, it increased to twice a year. In the first contest held in June, 6,297 households applied for 3,000 units, and after evaluation, 3,940 units were selected. LH accepted business plans such as housing in Jung-gu, Daegu that supports the creativity of young artists, and housing in Anseong-si, Gyeonggi Province that helps vocational rehabilitation and independence for people with developmental disabilities, and plans to continue follow-up measures for purchase contract signing within the year.

The private free proposal-type contest, which started on the 27th, will accept applications from February 25 to March 4 next year, considering the time needed to prepare business plans. Document screening is scheduled for March 20 next year, the main evaluation for selecting businesses on April 30 next year, and purchase contracts are planned for the end of July next year.

In addition, there is the 'specific theme-type' specialized purchase rental housing, which builds housing according to themes pre-planned with central government ministries. The contest for this was announced on the 29th of last month, and applications will be accepted from the 3rd to the 5th of next month. LH plans to conduct document screening on the 16th of next month, main evaluation on the 27th of next month, and sign purchase contracts in March next year.

An LH official said, "Specialized purchase rental housing can improve the quality of public rental housing based on private sector creativity."