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Seoul City Designates 12 Moa Town Sites as Land Transaction Permission Zones

Four New Rapid Integrated Planning Candidate Sites Designated
Dapsimni-dong 471 Area Released After Cancellation of Rapid Integrated Planning

The Seoul Metropolitan Government has designated a total area of 0.78㎢, including 12 Moa Town target sites and nearby areas, as land transaction permission zones to eradicate speculative activities. The designated sites requiring permission are lands classified as 'road' within the Moa Town project area, where transactions will be restricted for five years.


The city announced on the 6th that it approved this land transaction permission zone adjustment plan at the 1st Urban Planning Committee meeting held the previous day.


Seoul City Designates 12 Moa Town Sites as Land Transaction Permission Zones Moa Town Target Area Designated as Land Transaction Permission Zone. Seoul City

This measure was promoted to preemptively block speculative activities aiming for development profits, such as planned real estate companies purchasing private roads or alleys (sado) within Moa Town and collectively selling shares to multiple parties.


The designated land transaction permission zones include three sites in Gangbuk-gu: Beon-dong 469 area, Suyu-dong 31-10 area, and Suyu-dong 141 area.


Additionally, two sites in Yangcheon-gu (Mok-dong 231-27, Mok-dong 644-1) and Gwangjin-gu (Jayang-dong 722-1, Jayang-dong 649) were designated as land transaction permission zones. One site each in Guro-gu (Gaebong-dong 20), Seodaemun-gu (Hong Eun-dong 10-18), Seocho-gu (Umyeon-dong 2), Seongbuk-gu (Jeongneung-dong 226-1), and Jungnang-gu (Sinnae-dong 493-13) were also included.


The land area requiring permission is 6㎡ for residential areas, 15㎡ for commercial and industrial areas, and 20㎡ for green areas.


Furthermore, the city newly designated four rapid integrated planning housing redevelopment candidate sites (Jungnang-gu, Gwangjin-gu, Gangbuk-gu, Seodaemun-gu) totaling 0.16㎢ as land transaction permission zones in December last year. The designated sites are Myeonmok-dong 174-1 area in Jungnang-gu, Jayang-dong 227-147 area in Gwangjin-gu, Mia-dong 130 area in Gangbuk-gu, and Hongje-dong 287-118 area in Seodaemun-gu.


For two candidate sites with project area changes?Mia-dong 8-373 area in Gangbuk-gu and Garibong-dong 115 area in Guro-gu?and one public redevelopment candidate site (Siheung-dong 4 area in Geumcheon-gu), the permission zones were adjusted.


The land transaction permission zone designation was lifted for Dapsimni-dong 471 area in Dongdaemun-gu, where the rapid integrated planning housing redevelopment candidate site was canceled due to local residents' opposition.


A Seoul city official stated, "We plan to manage more efficiently through designation and adjustment (zone changes, cancellations) of land transaction permission zones in areas where land prices rise sharply or where speculation is suspected."


© The Asia Business Daily(www.asiae.co.kr). All rights reserved.

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