– 2 blocks of apartment housing lots(A79, A80) chosen to be  paid-in-kind … Bidding will be open until July 16

Gyeonggi Urban Innovation Corporation will be carrying out site building construction(section 5-2) at Dongtan Second New City through an agency-development.

The Corporation made a notice of tender on June 30 to select the contractor and notified that the selected contractor will be paid-in-kind given right to purchase 2 blocks of apartment housing lots (A79, A80).

Agency development is a construction project method where the contracted construction company carrying out construction work such as site building work is given the right to purchase specified lots of land. The construction companies benefit by purchasing strategically located apartment housing lots and the Corporation can lessen its burden in initial procurement of budget.

The construction will involve site building (section 5-2) of housing lots within Dongtan Second New City. Design budget is KRW 83.2 billion and A79 and A80 blocks will be the designated lots for sale. Constructors purchasing both lots(KRW 280.5 billion) with the lowest bid will be given contract.

Bidding and selection of the constructor will be finalized on July 16 and execution agreement will be entered into on July 22. More details can be found at Bidding Information page of Gyeonggi Urban Innovation Corporation web site(www.gico.or.kr).

Land paid-in-kind are blocks A79 and A80 located within section 5-2 of housing development district of Dongtan Second New City. These blocks are located closely to Hanwon CC and are expected to have superb view. Also, Sinri IC is close by which makes connection with road 23 easy.

Attachment: Location map and land use plan and etc.  End.