'Doosan We've the Zenith Central Cheonan' Sells Out, First in Cheonan in Two Years

[Financial News] The Cheonan housing market has seen its first complex sell all its units in the past two years.
According to Doosan Engineering & Construction on the 21st, all 1,202 units at Doosan We've the Zenith Central Cheonan, being built in Cheongdang-dong, Dongnam-gu, Cheonan, South Chungcheong Province, have found buyers. Korea Real Estate Board data from its Cheongyak Home website show that 21 complexes were offered for sale in Cheonan from October 2024 to October 2026, and this is the first to achieve a 100% contract rate. The complex will consist of 10 buildings, with two basement levels and up to 29 floors above ground. All units have the same exclusive floor area of 84 square meters.
It took nearly a year from the start of sales to the completion of contracts. The complex opened its model home on November 28 last year, held first-priority subscription applications on December 2, and signed contracts with eligible applicants from December 22 to 24. It later lowered the barrier to signing. This year, it reduced the fixed initial contract deposit from 10 million won, the amount set at the start of sales, to 5 million won, and offered terms of a 5% contract deposit and interest-free interim payments of 60%. In the latter part of last month, the sales agency also said that contracts for all units were nearing completion.
The floor plans focus on convenience for residents. The complex is laid out with a south-facing orientation, and all but some units have a four-bay, slab-style design. Some units are designed with three open sides, allowing ample sunlight and airflow and creating a strong sense of openness. Each unit type also includes storage space such as a dressing room, an extra room, and a pantry.
Educational and cultural services for residents are also in the works. Jongno M School and Kyobo Book Centre's book curation service are set to open at the complex, along with community facilities such as a fitness club, indoor golf practice facility, study rooms, and a kids' cafe. Cheongdang Elementary School is within walking distance, and the amenities of Cheongsu Administrative Town are also nearby. The sales team expects a residential neighborhood of approximately 13,000 households to take shape once the large-scale housing site and urban development projects underway around Cheongdang-dong are completed.
The sellout comes as new apartment supply in regional areas has fallen sharply. According to Real Estate R114, planned apartment supply outside the Seoul metropolitan area this year, excluding rental units, stands at 91,571 households, the lowest in 14 years since 2012, when the figure was 65,412. That is about 26.3% fewer than last year, when 124,311 units were planned. However, new apartment supply in Cheonan continues, with factors such as Samsung Electronics Co., Ltd.'s plan to build a next-generation high-bandwidth memory (HBM) production system and Buseong Station on Seoul Metropolitan Subway Line 1, scheduled to open in 2029, cited as positive developments. IPARK Hyundai Development Company is also moving ahead with sales of around 1,700 units.
A Doosan Engineering & Construction representative said, “We believe that the brand value of We've the Zenith, which we introduced in South Chungcheong Province for the first time, along with its differentiated design and product competitiveness, led buyers to choose the complex. We will continue to offer residential products that embody the brand's unique values and build on our customers' trust.”
[email protected] Jeong Gyeong-su Reporter