2 Neighborhood Living Facility Lots, 67 Single-Family Home Lots
On November 20, Saemangeum Development Corporation announced that it will begin the first sale of lots in the Saemangeum Smart Waterfront City. Starting from November 21, 67 lots for single-family homes (totaling 20,242 square meters, allocated by lottery) and 2 lots for neighborhood living facilities (totaling 8,640 square meters, available through competitive bidding) will be released via Onbid, the online bidding platform.
This sale is particularly significant as it marks the first time urban residential land is being supplied within Saemangeum. The corporation explained that this is not merely a land supply event, but a historic milestone that will open the way for population inflow and the establishment of a residential base in the future waterfront city.
The 67 single-family home lots will be allocated through a lottery system. Each lot is approximately 303 square meters (about 92 pyeong), offering a rare opportunity to purchase single-family home land at a reasonable price amid a nationwide decrease in supply. Equal opportunities are provided to all participants.
The 2 neighborhood living facility lots will be available through competitive bidding. These sites are expected to become core locations for future commercial and lifestyle infrastructure.
The corporation has focused on maximizing the marketability of the land from the perspective of buyers by revising development plans. Only land with high future value and suitability for actual residence has been carefully selected and offered to the market.
The corporation stated, "The first lots offered in this sale are highly valuable as they represent the first supply of urban residential space in Saemangeum. Another advantage is the opportunity to secure a central location in a future-oriented mixed-use city that will include educational, medical, and administrative institutions."
The corporation has prioritized earning the trust of the market. Transparency and fairness have been ensured through the use of the Korea Asset Management Corporation’s Onbid system for bidding and lottery allocation, as well as by offering reasonable supply prices.
The announcement will be open for about 12 days starting from November 21, and successful bidders will be selected on the 13th day through the opening of bids.
Na Kyunggyun, President of Saemangeum Development Corporation, stated, "This first sale marks the moment when Saemangeum Waterfront City transitions from the reclamation phase to becoming an actual city. We will accelerate the establishment of top-tier infrastructure and residential environments to welcome the first generation of residents at the heart of Saemangeum Waterfront City."
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