‘Hillstate Bongdam Pride City’ Commercial Complex Bidding on the 19th

by Jung Jin

Published 18 Dec.2023 15:25(KST)

- Targeting 25 out of 29 units ranging from 43 to 103㎡
- Securing a fixed demand of over 12,000 people, ㄱ-shaped street-type design

[Hillsstate Bongdam Pride City Complex Commercial Area Perspective]

A commercial complex within the Hillsstate Bongdam Pride City in Naeri District, Bongdam-eup, Hwaseong-si, Gyeonggi-do, is holding a bidding process aiming for consecutive full sales. Both the apartments and the commercial units within the complex were sold out in a short period.

On the 19th (Tuesday), bidding will be held for the ‘Hillsstate Bongdam Pride City Commercial Units’ located in the Naeri District area of Bongdam-eup, Hwaseong-si, Gyeonggi-do. The commercial units in Hillsstate Bongdam Pride City consist of 29 units across floors 1 to 3, with exclusive areas ranging from 43 to 103㎡ (20 units on the 1st floor, 5 units on the 2nd floor, and 4 units on the 3rd floor). Among these, 25 units on the 1st and 2nd floors are subject to this bidding.

The bidding is a competitive auction where the highest bidder who offers a price above the company’s predetermined price for each unit wins the bid. Bids will be accepted from 10:00 AM to 12:00 PM, with the bid opening and announcement of winners at 12:00 PM on the same day. Contracts will be signed on the 20th (Wednesday) at the sales office.

Only one bid per person is allowed for the same unit, and if one person bids on multiple units, the bid deposit must be paid for each unit separately. The bid deposit is 10 million KRW per unit.

The Hillsstate Bongdam Pride City commercial units are a follow-up product to the ‘Bongdam Xi Pride City Commercial Units,’ which were 100% contracted within less than a week after the contract start in August. Prior to this, in July and September 2021, two apartment complexes totaling 4,034 households were sold out within ten days.

The commercial area is a highly scarce island-type commercial zone beyond a jar-shaped commercial district, securing a fixed demand base of approximately 12,000 people, including 2,333 households of the Hillsstate Bongdam Pride City apartments and 4,034 households in Bongdam Pride City. Notably, Jongno M School is scheduled to open on the 3rd floor, which is expected to increase usage and foot traffic from Bongdam Pride City residents.

The demand behind each unit is also high. While nearby commercial units in Bongdam District have a demand base of 50 to 60 households per unit, Hillsstate Bongdam Pride City commercial units secure a demand base of 80 households per unit, and all units are arranged facing the front, ensuring excellent accessibility.

Additionally, it is a lifestyle-oriented commercial complex where various facilities can be enjoyed within 300 meters, and a significant portion of residents are in their 30s and 40s with high purchasing power, enabling stable operation. The commercial units are designed in an ‘L-shaped’ street-type layout between the apartment’s main and secondary entrances, providing excellent accessibility and visibility for residents. Being adjacent to planned public offices, elementary schools, and detached houses, it can easily attract demand and foot traffic.

The Naeri District, where the Bongdam Xi Pride City commercial units are located, is a private urban development project developing approximately 266,540㎡ in the Bongdam area of Hwaseong-si, Gyeonggi-do. This area will include 4,034 households of Bongdam Pride City, detached houses, quasi-residential facilities, one elementary school, five parks, two parking lots, one public office, roads, and other urban infrastructure.

There are also abundant transportation benefits. The Shinbundang Line Hommaesil-Bongdam route has been included in the 4th National Railroad Network Plan, which will allow direct travel to Gangnam without transfers once opened. Nearby, Eocheon Station on the Suin-Bundang Line is planned to be developed as a KTX transfer station through the Incheon-KTX direct connection project.