Public Housing Complex Project Operator Bidding for South Gulpocheon Station in Incheon... Project Briefing on the 27th

Incheon Urban Development Corporation (iH) announced on August 20 that it will reopen the bidding process for the urban public housing complex project operator on the south side of Gulpocheon Station in Bupyeong-dong, Bupyeong-gu, Incheon.

This project is being promoted in accordance with the "Public-Led 3080+ Large Metropolitan Area Housing Supply Expansion Plan" announced by the Ministry of Land, Infrastructure and Transport in 2021. The aim is to create high-density public housing and an urban function hub in the underutilized and aging area south of Gulpocheon Station.

The project will provide a total of 2,842 units, including public sale, self-owned, and rental housing. It will adopt the REITs (Real Estate Investment Trusts) model, in which both the public and private sectors participate.

Starting with a project briefing session on August 27, iH plans to accept and evaluate project applications in November, select a preferred negotiation partner through a resident vote in December, and then proceed with the site development construction in the second half of 2027. Completion and move-in are scheduled for 2033.

Planned site for the urban public housing complex project on the south side of Gulpocheon Station, Incheon. Incheon City

Eligibility to participate in the complex project is limited to housing construction companies ranked among the top 20 in construction capability evaluations. iH intends to select a company with a high level of understanding of urban public housing complex projects and outstanding construction capabilities.

The urban public housing complex project on the south side of Gulpocheon Station failed to attract any bidders during the previous call for applications in December last year. iH plans to revise the bidding conditions in consultation with the residents' representative council.

An iH official stated, "We will select an excellent operator to ensure balanced development of the old downtown, support for the resettlement of original residents, and a stable supply of high-quality public housing."