Daewoo E&C "Prugio Starcella49" Achieves Maximum Competition Rate of 2.5 to 1

- 75 Applicants for 50 Units in Discretionary Supply... Average Subscription Rate of 1.5 to 1, Maximum 2.5 to 1
- Strong Investor Interest Driven by Anticipation of Major Benefits from Starfield Cheongna and Seoul Asan Hospital Cheongna

Daewoo Engineering & Construction's "Prugio Starcella49," being built in Block C18 of Cheongna International City, Seo-gu, Incheon, recorded an average subscription competition rate of 1.5 to 1, with a maximum of 2.5 to 1.

According to Korea Real Estate Board's Cheongyak Home, during the two-day subscription period for "Prugio Starcella49" on May 7 and 8, 75 people applied for 50 available units, resulting in an average competition rate of 1.5 to 1. The highest competition rate was for the 118B type, where 25 people applied for 10 units, resulting in a rate of 2.5 to 1.

A sales representative stated, "As a beneficiary complex that allows residents to enjoy major development benefits such as Starfield Cheongna, Seoul Asan Hospital Cheongna, and Hana Financial Town in close proximity within Cheongna International City, it has attracted significant attention." The representative also explained, "Furthermore, as it boasts a prime location with convenient access to diverse infrastructure and Daewoo Engineering & Construction's outstanding product quality, customer satisfaction has been high, and contracts are expected to proceed smoothly."

"Prugio Starcella49" will consist of two buildings with 49 floors above ground and 5 basement levels, totaling 522 units. By exclusive area, there will be 174 units of 114 square meters, 174 units of 118 square meters, and 174 units of 119 square meters.

Notably, Starfield Cheongna, which will feature a domed stadium, is planned to be built directly in front of the complex. "Starfield Cheongna," currently under construction with a target completion at the end of 2027, will include a professional baseball stadium with more than 20,000 seats (the home stadium for SSG Landers) and a complex cultural and entertainment facility. In addition, specialized hotel rooms and an infinity pool are planned, and visitors will be able to enjoy baseball games and various entertainment at a range of F&B and dining bars within Starfield, enhancing the quality of life.

The Cheongna Medical Complex Town, expected to generate approximately 5,300 direct jobs, is also nearby, allowing easy access to advanced medical services and the potential for increased demand from the surrounding area. Within the Cheongna Medical Complex Town, Seoul Asan Hospital plans to begin construction this year on Seoul Asan Hospital Cheongna, which will have approximately 800 beds. Research institutes from KAIST and Harvard Medical School (MGH) are also scheduled to move in. Additionally, the Life Science Park, a startup education facility, will serve as a hub for research and development (R&D) in the medical complex industry.

Hana Financial Town already houses the Integrated Data Center (completed in 2017) and Hana Global Campus (completed in 2019), and the third-phase headquarters is currently under construction, which will further expand the potential demand base. The first-phase Integrated Data Center, already completed, currently employs about 1,800 people. When the Hana Dream Town Group Headquarters is completed in 2025, six Hana Financial Group companies?Hana Bank, Hana Card, Hana Financial Investment, Hana Life, Hana Insurance, and Hana Financial Group Holdings?will move in, with about 2,800 financial professionals expected to work there.

In addition to Starfield Cheongna, "Prugio Starcella49" is close to Costco Cheongna, the largest in Asia, allowing residents to enjoy the benefits of multiple shopping malls. Transportation is convenient, with access to Cheongna International City Station on the Airport Railroad, the Second Capital Region Ring Expressway, and the Incheon International Airport Expressway, making travel to Incheon, Seoul, and the greater metropolitan area easy. In particular, Cheongna International City Station is currently undergoing construction for the Line 7 extension (scheduled to open in 2027), and there are plans to directly connect the Airport Railroad with Seoul Subway Line 9, improving access to Yeouido and Gangnam. The Third Link Bridge, connecting Cheongna International City and Yeongjong International City, is scheduled to open at the end of this year.

In January, the extension and undergrounding project of the Gyeongin Expressway passed the preliminary feasibility study. The Gyeongin Expressway undergrounding project will cover a 15.3-kilometer section connecting Cheongna-dong, Seo-gu, Incheon, and Sinwol-dong, Yangcheon-gu, Seoul. The Ministry of Land, Infrastructure and Transport expects that, upon completion, the travel time between Incheon Cheongna District and Yeouido will be reduced by about 17 minutes (from 40 to 23 minutes).

The announcement of successful applicants for "Prugio Starcella49" will be made on Tuesday, May 13, and contract signing will take place on Wednesday, May 14. The sales office (officetel exhibition hall) is located in Cheongna-dong, Seo-gu, Incheon, and the expected move-in date is December 2027.