NAMKWANG ENGINEERING & CONSTRUCTION's Yeokgok District Haustory subscription draws strong demand... Expectations rise for follow-up complex in Bucheon Daejang District

[Financial News] NAMKWANG ENGINEERING & CONSTRUCTION said that Yeokgok District Haustory, a newlywed hope town project supplied in Block A-2 of the Bucheon Yeokgok District in Bucheon, Gyeonggi Province, drew strong demand in its main subscription round held in July, posting a high competition rate and proving a success.
According to Korea Land and Housing Corporation (LH) Subscription Plus, the main subscription for Yeokgok District Haustory, held from July 22 to 23, drew 5,608 applications for 570 units, resulting in an average competition rate of 9.8 to 1. The 55m2A type, which attracted the most applicants, saw 2,513 applications for 165 units, marking the highest competition rate at 15.2 to 1. Other types also performed well across the board, including the 55m2E type at 10.2 to 1 and the 55m2C type at 8.8 to 1.
The strong subscription result is significant because demand was high despite the fact that eligibility for Newlywed Hope Town projects is somewhat limited to newlyweds, prospective newlyweds, and single-parent families. Analysts said the project drew attention because it uses a single 55m2 layout favored by end users, along with a 4-bay slab design and specialized features such as walk-in closets and pantries by unit type, improving space efficiency. In addition, premium community facilities typical of private-participation projects, such as a sky lounge on the top floor, a multipurpose indoor gym, and a guest house, as well as a reasonable sale price in the mid-400 million won to low-500 million won range for the 55m2 units, helped generate strong interest.
As Yeokgok District Haustory successfully closed its subscription process, attention is naturally turning to the follow-up project that NAMKWANG ENGINEERING & CONSTRUCTION will introduce in a nearby third-generation new town in October.
In October, NAMKWANG ENGINEERING & CONSTRUCTION plans to open a model home and begin sales for Bucheon Daejang District A-2BL, which will be developed in Block A-2 of the Bucheon Daejang public housing district. The complex, which will be developed by the consortium led by LH and NAMKWANG ENGINEERING & CONSTRUCTION and built by the same consortium, will consist of 548 public-sale units in total, with 59m2, 74m2 and 84m2 floor plans.
The complex has a station-area location near the planned Daejang Station on the Daejang–Hongdae Line, and it is expected to benefit from multiple large-scale transportation projects, including the planned Great Train eXpress Line D (GTX-D) and the planned Super-Bus Rapid Transit (S-BRT). It also offers access to schools from kindergarten through high school within walking distance, as well as a pleasant natural environment with waterside walking trails nearby. In particular, it is being developed as a Haustory brand town with a total of 5,280 households extending from Bucheon to Gyeyang District in Incheon, raising expectations for a premium.
An industry official said, "Given the strong interest from end users and the near double-digit competition rate in Yeokgok District, demand is also expected to continue for Bucheon Daejang District A-2BL, which has an excellent location and strong product appeal."
The model home is scheduled to be set up in Sangdong, Wonmi District, Bucheon, Gyeonggi Province, the same area as Yeokgok District Haustory.

[email protected] Reporter Jeon Min-kyung Reporter