DK Urban Development secured the housing site equivalent to Sanbon New City in Seo-gu, Incheon

The mega residential complexes equivalent to the new cities, with strong brand power and superior locational conditions including transportation in a region, mean the ‘creation of newly emerging prestigious residence’ and ‘restructuring housing market’. Even the ‘address’ of the representative residential complexes(leading apartment complexes) in an area is changed due to the construction of mega residential complexes.


As it’s highly possible that the address of representative apartment complexes would be changed and the housing market would be restructured due to the construction of mega residential complexes in Incheon, the housing consumers pay attention to Incheon.


DK Urban Development secured the housing site equivalent to Sanbon New City, the first phase new city in Dokjeong and Wanggil Station of Incheon Rapid Transit Line No. 2 and planned to sell about total 45,000 apartment units step by step from early next year.


In accordance with the industry, DK Urban Development submitted the residents’ proposal on the urban development zones on the area 800,000㎡ to Seo-gu Office, Incheon. DK Urban Development announced that the project zones secured reached 4,799,947㎡. The project will be the first and largest urban development project with the development areas wider than Sanbon, the first phase new city(about 4.19 Million ㎡).


DK Urban Development has been using the brands ‘Royal Park City’, ‘Central Park City’ and ‘Metro Park City’ to each zone developed for the first time in Korea. Of them, ‘Royal Park City Geomam Station’ which has been quickly implemented is constructed by DK Urban Development and DK Asia to provide 4,805 households in two blocks and will be sold from early next year. With the project approval from Seo-gu Office, Incheon, DK Urban Development successfully secured PF of 550 Billion KRW with KEB Hana Bank as the lead manager for PF.


Kim Jeong-mo, the chairman of DK Urban Development/DK Asia, said, “we executed the joint financing management agreement on July 25 with the primary financial sector and large securities firm for the next project. Although it’s large-scale development project, we can stably implement the project with successful PF.”


‘Royal Park City Geomam Station’ will be the first resort city in Korea as the mega project with the project costs 2 Trillion 500 Billin KRW by applying the landscaping ratio 39%, over twice as much as the legal standards, and the building-to-land ratio 13%, for the harmony with the surrounding environment.


As befitted to the project dimension, it’s evaluated that the area for exclusive facilities for residents is the largest among all apartment complexes in Korea. While the multi-functional sports center constructed in the existing big apartment complexes is 6,600㎡(2,000 Pyeong) wide, the center in ‘Royal Park City Geomam Station’ reaches 21,200㎡(6,400 Pyeong), three times as wide as existing big apartment complexes. The exclusive facilities for residents include 25m-long swimming pool with five lanes, the first exclusive skin scuba diving pool in Korea, multi-functional gym with a track, climbing wall and large-scale sauna in each block.


Royal Park City Geomam Station’ is selected as the transportation beneficiary in accordance with the ‘Metropolitan Transportation 2030’ vision of the state government proposing the future and policy directions of metropolitan transportation in large cities for future 10 years. The project area is bordered to Dokjeong station, Incheon Subway Line No. 2 to be extended to Bullo Zone through Geomdan New City. Geomam Station linked to Gangnam without transfer by linking Incheon International Airport Railway and Subway Line No. 9 is one station from Dokjeong Station. Thus, Geomam Station will be the double transfer district.


As Geomam station district was confirmed and announced as the ‘public housing zone’ along with ‘Royal Park City Geomam Station’, the landmark buildings will be constructed on each sdie of expressway and Incheon International Airport Railway. Kim Jeong-mo, the chairman of DK Urban Development/DK Asia, said, “as skyscrapers will line up by 1km on both sides of Incheon International Airport Railway, Airport Expressway and Ara Waterway, we can imagine the gateway of Korea would be here.”