"Jobs Drive Home Values"... Bando Construction's "Gyeyang New Town Kaib Ubora" in a Self-Sufficient City

- Self-Sufficient City with Quality Jobs, Backed by Strong Local Demand
- Dual Boost from 'Gyeyang AX Park', 1.4 Times Larger Than Pangyo, and High-Tech Industrial Investments within the New Town

Aerial View of Gyeyang New Town Kaib Ubora AC3, AC4 BL

In the real estate market, "quality jobs" are among the most important factors influencing the value of an area. While past new towns built as "bed towns" for commuting to Seoul faced limitations due to a lack of self-sufficiency, so-called "self-sufficient cities" with large-scale high-tech industrial complexes, such as Pangyo Techno Valley, have driven up surrounding housing prices based on overwhelmingly high-income demand. Residential complexes with strong "work-residence proximity" are highly resilient to price declines even during economic downturns, making them the top priority for both end-users and investors.

The development of the 3rd-generation new towns is also strongly focused on "maximizing self-sufficiency" from the outset, based on these past lessons. Among them, Gyeyang New Town stands out for its proactive approach, and in October, Bando Construction announced the launch of "Gyeyang New Town Kaib Ubora," which is expected to fully benefit from work-residence proximity.

Within Gyeyang New Town, the "Gyeyang AX Park," a massive high-tech industrial hub focused on ICT and digital content, is being established. With a scale approximately 1.4 times that of Pangyo Techno Valley, once completed, the new town is expected to internally generate a vast number of jobs and associated demand for work-residence proximity.

In addition, a strong external driver is also anticipated near the complex. In the neighboring Bucheon Daejang High-Tech Industrial Complex, four major corporations—including Korean Air and SK Innovation—entered into lease agreements in December 2025 and finalized land purchase contracts worth approximately 410 billion won with LH. Their total investment in the area is expected to reach about 2.6 trillion won.

As the complex will be supplied as a mixed-use residential-commercial development, commercial facilities will be included within the site. The commercial area will feature Bando Construction’s premium brand shop "Sigan (Time)." Complementing Gyeyang New Town’s pedestrian-centered urban plan, it aims to create an experiential brand mall where people walk, enjoy, and linger as part of their daily routine.

The combination of on-site commercial facilities and a pedestrian-oriented urban design is also linked to the mixed-use development model.

Recently, commercial facilities are evolving from spaces used solely for purchasing essential goods to venues that offer shopping, dining, relaxation, and cultural experiences. Particularly when integrated with pedestrian environments, these commercial spaces naturally connect residents’ daily movement with places to stay and enjoy.

Based on the projected demand from approximately 18,000 households in Gyeyang New Town and visitors to the cultural park in front of the complex, commercial facility usage is expected to be robust. For apartment residents, one of the main advantages of mixed-use developments is having housing, shopping, dining, and cultural activities accessible all within one lifestyle zone.

Meanwhile, the model home for "Gyeyang New Town Kaib Ubora" is scheduled to open in Dodang-dong, Wonmi-gu, Bucheon-si, Gyeonggi Province.

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