Siheung City to Sell Five Unsold Sites in Baegot New Town via Private Contract

First-Come, First-Served Sales with 3-Year Interest-Free Installments
Quasi-Residential, Commercial, Support, and Cultural/Sports Facilities Included

On January 9, Siheung City in Gyeonggi Province announced that it will sell five unsold sites in Baegot New Town, which failed to sell in two rounds of public competitive bidding, through a first-come, first-served private contract method.

Location map of unsold sites subject to private contracts in Baegot New Town, Siheung. Provided by Siheung City

The sites for sale are as follows: ▲ Baegot-dong 10 quasi-residential site (2,825㎡, 11,584.5 million won) ▲ Baegot-dong 63 quasi-residential site (2,276㎡, 7,432.44 million won) ▲ Baegot-dong 170 complex, cultural, and sports facility site (4,060㎡, 16,769.86 million won) ▲ Baegot-dong 206-5 commercial site (913㎡, 7,129.86 million won) ▲ Baegot-dong 300-2 urban support facility site (4,044㎡, 10,211.35 million won).

The quasi-residential sites are subject to a building-to-land ratio of 60% and a floor area ratio of 300%, and can be developed with neighborhood living facilities (Type 1 and 2) and retail facilities. The Baegot-dong 170 complex, cultural, and sports facility site allows for a building-to-land ratio of 50% and a floor area ratio of up to 230%. Permitted uses include cultural and assembly facilities, welfare facilities for children and the elderly, training facilities, and sports facilities.

The commercial site allows for a building-to-land ratio of 70% and a floor area ratio of up to 700%, and can accommodate neighborhood living facilities (Type 1 and 2), retail facilities, and tourism and rest facilities. The urban support facility site is subject to a building-to-land ratio of 70% and a floor area ratio of 500%, and can be developed with knowledge industry centers and educational research facilities.

Prospective buyers must pay a 10% contract deposit to a designated account and then visit the Economic Free Zone Division at Siheung City Hall to complete the land purchase application. The balance and interim payments can be made in interest-free installments over three years.

For more information, please refer to the bidding information board on the Siheung City Hall website or visit Onbid.