Jungheung Construction, Gyeonggi Pyeongtaek 'Brain City' Phase 2 Land Supply

Pyeongtaek Brain City Bird's-eye View

A special purpose company (SPC) 'Brain City Project Finance Investment,' jointly established by Joongheung Construction Group's Joongheung Togeon and Pyeongtaek Urban Corporation, will announce the second land supply notice for Pyeongtaek 'Brain City' on the 9th and begin full-scale supply.

The Pyeongtaek 'Brain City' development project, which will be the largest general industrial complex in Gyeonggi Province, is a project to create a high-tech industrial complex, universities, residential and commercial facilities on approximately 4.82 million square meters in Doil-dong, Pyeongtaek-si, Gyeonggi-do.

Looking at the detailed land use, it consists of △1.7 million㎡ industrial facilities △840,000㎡ residential facilities △2.08 million㎡ public facilities △110,000㎡ support facilities △18,200㎡ commercial facilities. Among these, Phase 1 (about 1.45 million㎡) will be developed as industrial facility land directly by Pyeongtaek Urban Corporation, a public enterprise under Pyeongtaek City.

Then, Phase 2 (about 3.36 million㎡) will be developed with public facilities, residential facilities, and support facility land by the special purpose company 'Brain City Project Finance Investment,' composed of Joongheung Construction Group and Pyeongtaek Urban Corporation.

As a result of the first land supply, all of the apartment land, residential-commercial complex land, and detached housing land were 100% supplied, and more than 80% of the support facility land was supplied.

In this second phase, a total of 66 lots (about 235,388㎡) will be supplied, including △1 lot of general apartment land △1 lot of rental apartment land △1 lot of residential-commercial complex land △46 lots of detached housing land △6 lots of commercial land △11 lots of support facility land. Apartment land will be supplied by lottery, and the rest will be supplied through competitive bidding.

Bidding will be conducted through the online auction system (Onbid) operated by Korea Asset Management Corporation (KAMCO). Applications will be accepted from February 9 to 22, and the bid opening results will be announced on the 23rd. The successful bidders will also be announced on the 23rd, and contract signing will take place over five weekdays excluding weekends and holidays from February 24 to March 3.

This content was produced with the assistance of AI translation services.