Gyeonggi New City to Double in Size

A new town planned in Paju, Gyeonggi will be expanded to two times the current size, about the size of Ilsan, 4.76 million pyeong (1.0 pyeong equals about 3.3 square meters).

Another new town planned in Geomdan, Incheon will be as wide as Bundang in Seongnam, Gyeonggi, covering 5.94 million pyeong.

The Ministry of Construction and Transportation (MOCT) said on October 26 that it would announce an additional new town plan in suburban areas based on the information above on October 27.

The plan will expand the new town in Paju by 2.0 million pyeong from 2.84 million to 4.80 million, about the same size of Ilsan. Around 70,000 to 80,000 houses will be built in the town, accommodating 200,000 to 220,000 people.

Another new town in Incheon will be located in Geomdan, Dangha and Wondang in Western Incheon, and will be as wide as Bundang, covering about 5.48 million pyeong.

But the planned city in Geomdan could shrink to 4.5 million pyeong if the 900,000 pyeong, where the protected area for military facilities is situated, is excluded from the plan after discussion with the Ministry of National Defense.

The MOCT said that the size of the new towns and the number of house supply might change depending on the result of the economic policy meeting, held on October 27.

Meanwhile, the Geomdan new town plan is overheating not only the planned area but also the surrounding regions.

A total of 24,180 applications were filed for the 2,690 houses of Hanwha Ecometro Apartment of Hanwha Engineering and Construction Corp. in Sorae and Nonhyeon in Namdong-gu, Incheon on October 25. Only one out of nine applicants will have a chance to buy a house.

GS Construction has been receiving an average 400 calls daily this week for consultation on apartment buildings in Unnam-dong, Jung-gu, Incheon, which will be sold from next month. But until last week, the company only got less than 100 calls a day.

In Geomdan new city, those who recently bought a house canceled the contract even by paying a penalty.

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