Kumho Engineering & Construction's Hyeongok Central ARTERA closes first-priority applications with an average competition rate of 8.72 to 1

[Financial News] Hyeongok Central ARTERA, introduced by Kumho Engineering & Construction in Hyeongok-dong, Gumi, North Gyeongsang Province, was fully subscribed across all unit types in the first-priority application round.
According to Cheongyak Home, operated by the Korea Real Estate Board, 532 applications were received for 61 units, excluding special-supply units, in the first-priority application round for Hyeongok Central ARTERA held on the 10th, recording an average competition rate of 8.72 to 1, the results showed on the 11th. In particular, 514 applications came from applicants in Gumi's designated local area alone, and the round closed smoothly with an average competition rate of 8.43 to 1. In the earlier special-supply round, 82 applications were received for 74 units. The first-time homebuyer special-supply category drew 61 applications for just 9 units, recording a high competition rate of about 6.8 to 1 and underscoring the strong interest of end-users seeking to buy their first home.
The strong results had been anticipated from the time the model home opened. Demand remained steady, given that the project is a rare new apartment development in the Hyeongok-dong area, where no new apartments have been supplied for about 10 years, and that it brings the premium ARTERA brand from Kumho Engineering & Construction to Gumi for the first time. These factors were complemented by a 4Bay floor plan, ample parking (about 1.37 spaces per household), and the advantages of a non-regulated area, with no resale restrictions, restrictions on winning again, or mandatory residency.
The complex will be built through the Hyeongok 3 Jugong Apartment Housing Reconstruction Project, with two basement levels, 29 above-ground floors, seven buildings and a total of 770 units. Of these, 135 units with an exclusive area of 59 square meters will be offered for general sale. The 59-square-meter units feature a four-bay layout with three rooms and two bathrooms, as well as cross-ventilation to maximize natural light and airflow. They also offer ample storage, including a dressing room and an entryway storage closet. A range of community facilities for residents, including a fitness center, GX room, golf practice range and small library, will also be provided.
Excellent living conditions are another strength. Hyeongil Elementary School, Hyeongok Middle School, a renowned academy district and Gumi Municipal Central Library are all nearby, offering an excellent educational environment. Residents will also have convenient access to Gumi CHA Hospital, the Cultural Arts Center and a wealth of urban amenities. Hyeongok Neighborhood Park is right in front of the complex, and Geumosan is nearby, offering a pleasant natural setting. Gumi Station, Gumi IC and Gumi General Bus Terminal provide convenient travel within and beyond the city, while the Gumi National Industrial Complex is easy to commute to.
The winners will be announced on November 17, and document submissions by winners will be accepted from November 21 to 25. Formal contracts will be signed over three days, from November 30 to December 2. The model home is located in Gwangpyeong-dong, Gumi, North Gyeongsang Province, and move-in is scheduled for December 2028.

[email protected] Jeon Min-gyeong Reporter