Power Center’s Complex Site in Gwanggyo New City sold at 157.7 billion Won

– Agreement signed with Daesang Industry Co. Ltd for Block C4 on 22nd 

– Following the agreement for Block C3 last 11th, another agreement for Ilsang 3 Block is expected to be signed next month

The sales agreement for Power Center site in the vicinity of Gwanggyo New City’s Lake Park is expected to be signed. 

Gyeonggi Urban Innovation Corporation revealed that it has entered into a sales agreement with Daesang Industry Co. Ltd on the 22nd for Block C4 (29,816㎡, 686 units) in the complex site within the land of Power Center in Gwanggyo New City. The sales price was 157.7 billion Won. 

Power Center is comprised of 117,000㎡ in total, including the commercial lot (1 block, 41,130㎡) located between the southern part of Gwanggyo New City’s Lake Park and along the National Road No. 42 as well as a multi-complex area (2 blocks, 76,377㎡) and it is a complex that houses culture, distribution and office work. 

With this, Block C3 was sold to Neo Value Investment Limited at 242 billion Won on the 11th, followed by the agreement of Block C4. Thus,  2 multi-complex area within Power Center has all been sold. 

The agreement for the commercial site (Ilsang 3) is expected to take place with STS Development which is a party subject to priority negotiation on the 30th next month and with this, Gwanggyo New City’s Power Center is expected to gain momentum in its development as a culture, distribution and office work multi-complex area. 

Block C3 (987 units) and Block C4 (686 units) are expected to begin construction and sales in the first half of next year. 

< Summary of Project Site >

❍ Objective of development : Creating a themed complex commerce and cultural space, representing the southern region of the metropolitan region

❍ Location : 604 bunji, south of Woncheon Reservoir within Gwanggyo District (Block C4)

❍ Distribution Method : Negotiated Contract

❍ Construction Size

〔Location Map of 604 bunji (Block C4)〕