KYE-RYONG CONSTRUCTION INDUSTRIAL CO., LTD. to open model home for ‘ELIF Siheung The Prime’ on the 6th; 84-square-meter units priced in the ₩500 million range

[Financial News] KYE-RYONG CONSTRUCTION INDUSTRIAL CO., LTD. will open a model home in Siheung, Gyeonggi Province, on the 6th and begin sales in earnest. The apartment complex is in a public housing site subject to the price cap system, with the maximum sale price for an 84-square-meter unit set in the ₩500 million range.
According to KYE-RYONG CONSTRUCTION INDUSTRIAL CO., LTD. on the 5th, ELIF Siheung The Prime will be built on Block B-5 of the Siheung Geomo Public Housing District in Geomo-dong, Siheung, with two basement levels and up to 25 floors above ground across four buildings, for a total of 338 households. All units will have an exclusive area of 84 square meters, and 304 of them will be offered for sale.
With the price cap system in effect, the maximum sale price for an 84-square-meter unit has been set at ₩599.3 million. The maximum prices by unit type are ₩599.3 million for Type 84A and ₩599.1 million for Type 84B. The down payment is 5% of the sale price, easing the initial financial burden on prospective applicants.
Applications will proceed with special-supply applications on the 9th, followed by first-priority applications on the 10th and second-priority applications on the 11th. Successful applicants will be announced on the 17th, and contracts will be signed from the 28th through the 30th.
For general-supply first-priority applications, eligible applicants are household heads and household members aged 19 or older who, as of October 29—the date of the housing recruitment notice—reside in Siheung or the Seoul metropolitan area. Applicants must have held a housing subscription account for at least 12 months and meet the deposit requirements for their region and unit size.
Of the total supply, 30% will be given priority to people who have continuously resided in Siheung for at least one year, and 20% to those who have continuously resided in Gyeonggi Province for at least six months. The remaining 50% will be allocated to residents of Seoul and Incheon, as well as people who have lived in Gyeonggi Province for less than six months, among others. Households that own one home may also apply through the first-priority lottery if they meet the eligibility requirements; the lottery portion is 30%.
Of the total supply, 30% will be given priority to people who have continuously resided in Siheung for at least one year, and 20% to those who have continuously resided in Gyeonggi Province for at least six months. The remaining 50% will be allocated to residents of Seoul and Incheon, as well as people who have lived in Gyeonggi Province for less than six months, among others. Households that own one home may also apply through the first-priority lottery if they meet the eligibility requirements; the lottery portion is 30%.
The complex will be located near the Siheung Geomo Public Housing District and the Ansan Singil 2 Public Housing District. Plans call for 11,919 households in the Siheung Geomo District and 7,009 in the Ansan Singil 2 District, with a residential community of approximately 19,000 households expected to take shape in the future.
For public transportation, Singil Oncheon Station, served by Seoul metropolitan area Metro Line 4 and the Suin–Bundang Line, is within walking distance. Regional travel is also possible via West Ansan IC on the Yeongdong Expressway and South Ansan IC on the Pyeongtaek-Siheung Expressway. The Banwol-Sihwa National Industrial Complex is also nearby.
The complex also offers excellent transport access. Singil Oncheon Station, an interchange between Seoul metropolitan area Metro Line 4 and the Suin–Bundang Line, is within walking distance. The West Ansan IC on the Yeongdong Expressway and the South Ansan IC on the Pyeongtaek-Siheung Expressway provide convenient access not only to Siheung and Ansan but also to major areas across the Seoul metropolitan area. The nearby Banwol-Sihwa National Industrial Complex also makes it convenient to live close to work.
A new Geomo 2 Elementary School (provisional name) is planned near the complex, along with green spaces such as Jegicheon Stream and neighborhood parks. Residents will also be able to use existing commercial facilities in Geomo-dong and amenities in Jeongwang-dong, and in the Singil and Seonbu neighborhoods of Ansan.
The complex will also incorporate specialized design features. The buildings will be oriented predominantly south, with floor plans centered on slab-style layouts. Sightline corridors between buildings will enhance openness and ventilation, and individual storage units are also planned for each household. There will be 508 parking spaces in total, or approximately 1.5 per household.
A sales representative said, “This complex is being offered in a prime location where a new residential community is taking shape through the linked development of Siheung Geomo and Ansan Singil 2.” The representative added, “In addition to offering 84-square-meter units in the ₩500 million range under the price cap system and a 5% down-payment benefit, the complex allows homeowners to apply for first-priority subscriptions, so inquiries from prospective end users in the Seoul metropolitan area continue to come in.”

[email protected] Choi A-young Reporter