Development of Songdo District 11... 'Songdo Jaipungyeongchae Granoble' Scheduled for Supply

Incheon Songdo International City emerged as a representative affluent area in the metropolitan area as soon as it appeared in the real estate market. This was because substantial development projects capable of supporting a self-sufficient city function were planned, along with a residential environment of a different dimension, attracting demanders eager to secure future value.

In fact, Songdo-dong, Yeonsu-gu, Incheon, where Songdo International City is being developed, has risen as the area with the highest apartment prices in Incheon since development began in earnest in 2005. According to Real Estate R114 data, the average apartment price per 3.3㎡ in Songdo-dong in 2005 was 10.3 million KRW, about twice the Incheon-wide average of 5.4 million KRW at the time. As a large-scale new town comparable in size to Bucheon City in Gyeonggi-do and with a planned population of 300,000, it immediately stood out as a leading affluent area in the metropolitan area upon its emergence.

As development progressed, apartment prices also rose significantly. The average apartment price in Songdo-dong, which was 10.3 million KRW per 3.3㎡ in 2005, rose to 21 million KRW as of November this year, firmly maintaining its position as the most expensive city in Incheon.

Looking at detailed complexes, it is clear that Songdo is a representative affluent area in Incheon. According to the Ministry of Land, Infrastructure and Transport's actual transaction price data, an 84㎡ unit in ‘Songdo The Sharp Park Avenue’ located in Songdo International City was traded for 1.2 billion KRW in February this year, followed by an 84㎡ unit in ‘Songdo The Sharp First Park F15BL’ traded for 1.1 billion KRW in April. Among apartments with an 84㎡ exclusive area, Songdo International City apartments are the only ones in Incheon to enter the ‘1 billion KRW club’.

Beyond Incheon, Songdo International City, often called the ‘Songdo Special City,’ is once again signaling a leap forward. This is because the development of Songdo District 11, known as the last puzzle of Songdo International City’s development, is gaining momentum. Songdo International City is a large-scale new town of about 530,000㎡ divided into 11 districts, with all except Songdo District 11 either completed or under development. Songdo District 11, which is just beginning development, is the largest among the 11 districts and is considered the ‘last puzzle’ completing the perfect Songdo International City due to its substantial development projects and high future value. Accordingly, it is reported that demanders aiming to secure future value from the development of Songdo District 11 are increasing.

According to a representative from Songdo International City S Real Estate Agency, “Among Songdo International City, which represents the metropolitan area, Songdo District 11 is known as the development area with the most perfect plan, capable of functioning as a self-sufficient city,” adding, “As a result, not only actual residents of Songdo-dong but also people from across the metropolitan area are showing interest in residential facilities to be built in Songdo District 11, accelerating movements to secure future value.”

Meanwhile, the largest residential complex within Songdo District 11 is scheduled to be launched for sale. ‘Songdo Xi Punggyeongchae Granoble,’ to be supplied by GS Construction and Cheil Construction Co., Ltd. in January next year, is a mammoth complex integrating five blocks (Rc10~11 blocks, Rm4~6 blocks) within Songdo District 11.

The complex consists of 23 buildings (21 apartment buildings and 2 officetel buildings) ranging from 2 basement floors to a maximum of 47 floors above ground, with a total of 3,270 units (2,728 apartment units / 542 officetel units). Among these, the apartments range from 84 to 208㎡ in exclusive area, totaling 2,728 units, and the officetels consist of 542 units with a single exclusive area of 39㎡. By block, the composition is ▲RC10 block with 548 apartment units ▲RC11 block with 469 apartment units ▲RM4 block with 597 apartment units and 271 officetel units ▲RM5 block with 504 apartment units ▲RM6 block with 610 apartment units and 271 officetel units.

‘Songdo Xi Punggyeongchae Granoble’ is expected to fully enjoy the future value of Songdo District 11. Samsung Biologics is constructing its second bio campus on the south side of the complex, and Lotte Biologics is planning to build a mega plant on the Ki20 site. In addition, many R&D sites are planned within Songdo District 11, indicating a huge demand for proximity between residence and workplace.

Regarding the residential environment, it boasts a pleasant living environment with a waterfront location, which is the core of the green infrastructure in Songdo District 11, and some units are expected to have permanent waterfront views.

The educational environment is also excellent. Kindergarten and elementary and middle school sites are planned right next to the complex. Furthermore, Yonsei University International Campus, Incheon Global Campus (State University of New York, George Mason University, Ghent University, University of Utah) are nearby, and Inha University Open Innovation Campus (Inha University Songdo Campus) is adjacent to the site.

Living infrastructure is abundant as well. Songdo Severance Hospital with 800 beds (construction started in December 2022, scheduled to open in December 2026) is within walking distance. Large shopping facilities such as Homeplus, Hyundai Premium Outlet (Songdo branch), and Triple Street are conveniently accessible. A large-scale commercial facility will be built at the center of the complex, and a large-scale central commercial facility within Songdo District 11 is also within walking distance.

In terms of transportation, Incheon New Port Road and Songdo Bio Road provide convenient access to the 2nd Gyeongin Expressway, 3rd Gyeongin Expressway, Yeongdong Expressway, and other wide-area road networks, and the Metropolitan Area 2nd Ring Road is also planned near the complex. The entire Songdo area can be quickly accessed via Songdo Science Road, and public transportation is well established around, offering excellent connectivity.

Community facilities will include a fitness club, sauna, guest house, daycare center, senior citizens’ center, and a sky lounge befitting a landmark complex.

A sales promotion center for ‘Songdo Xi Punggyeongchae Granoble’ is being operated.

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