Deloitte Anjin Advises on Sale of 'Incheon City O Ciel Development Sites'

"Expertise in Urban Development Projects"

Deloitte Anjin said it is providing sales advisory services for development sites in the Yonghyeon-Hakik 1 Block (City O'Ciel) urban development project in Incheon, which is being 추진ed by DCRE.

A Deloitte Anjin representative said, "Drawing on our ability to develop sales strategies that take into account the characteristics of each phase of an urban development project and the needs of prospective buyers, we are identifying potential buyers and conducting marketing tailored to the nature of the project."

Incheon City O'Ciel is a private urban development project spanning approximately 460,000 pyeong, with plans for more than 13,000 residential units, as well as commercial, business and public facilities. HDC Hyundai Development Company, Hyundai Engineering & Construction, and POSCO E&C are among the companies participating in the project. Following the sale of the apartment units, sales have been completed in eight of the project's nine apartment blocks.

Deloitte said City O'Ciel is entering a more mature stage as a city, with a substantial portion of its residential supply completed. It described the current supply of development sites as a phase focused on strengthening the city's self-sufficiency and expanding its living infrastructure. Sites being offered include detached housing sites with shops, neighborhood commercial facility sites, semi-residential sites, parking lot sites, and creative innovation sites. Depending on their location and size, the semi-residential and creative innovation sites can be developed for uses such as senior residences, medical centers, corporate headquarters, automotive-related facilities, retail facilities, and residential officetels. Deloitte also said that additional commercial and business demand is expected to be generated if nearby public offices are developed and the site to be donated to Michuhol-gu is developed.

Transportation infrastructure is also set to improve. Hakik Station on the Suin-Bundang Line is scheduled to open in 2028, while Incheon KTX's Songdo Station is scheduled to open at the end of 2026. Cheonghak Station on the GTX-B line is expected to open in 2031.

Kwon Bongkyung, a partner in the Real Estate division of Deloitte Anjin's Advisory business, said, "The sales performance of the apartment units has confirmed the city's growth potential and demand base. With stable demand from the surrounding area, an expanded regional transportation network, competitive pricing, and incentives such as payment of the remaining 80% in 2-3 years and discounts for early payment, we expect to attract interest from both investors and end users." He added, "We are conducting sales advisory work in collaboration with Real Estate Planet to maximize the effectiveness of our sales marketing."

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