Daewoo E&C goes for bigger, better with 1,931-unit Jangwi Prugio Mark One megacomplex
With the real estate market in flux in the wake of changes in regulations, buyers are shifting to the “one household, one home” concept that has driven significant appreciation in units in larger complexes, and Daewoo Engineering & Construction (E&C) is poised to meet that demand with its Jangwi Prugio Mark One in Seongbuk District, northern Seoul, this June.
With the real estate market in flux in the wake of changes in regulations, buyers are shifting to the “one household, one home” concept that has driven significant appreciation in units in larger complexes, and Daewoo Engineering & Construction (E&C) is poised to meet that demand with its Jangwi Prugio Mark One in Seongbuk District, northern Seoul, this June.
The complex in the district’s Jangwi-dong neighborhood aims to capitalize on the “bigger is better” trend taking over the housing market with a megacomplex comprising 23 to 35-story buildings with 1,931 units, 1,032 of which range from 39 to 114 square meters (420 to 1,230 square feet). The apartments will hit the market for general presale, marking one of the largest supplies in the first half of the year.
The emphasis on larger units is a calculated move based on the latest real estate data in the metropolitan area in the past year, with complexes with fewer than 300 units rising in value by 5.8 percent, while units with 1,500 or more units surging by 12. 49 percent.
The difference is attributed to higher post-occupancy satisfaction, with megacomplexes offering premium amenities and landscaping as well as diverse floor plans. The trend is most clearly seen at the developer’s Prugio Summit complex in Gwacheon, Gyeonggi, where an 84-square-meter unit sold for 2.68 billion won ($1.95 million) in March, jumping some 230 million won in less than a year.
The new Daewoo E&C complex is strategically situated with commutes in mind, situated within walking distance of Dolgoji Station on Seoul Subway’s Line 6 and positioned near a number of infrastructure projects that stand to increase the area’s premium, with the Dongbuk Line LRT and GTX-C high-speed rail network set to move into the area. The Kwangwoon University Station Area Development Project, meanwhile, will create a major economic hub with the integration of commercial, residential and cultural facilities.
“The Jangwi Prugio Mark One is a premium complex that allows residents to fully enjoy top-tier transportation, education, lifestyle, and natural infrastructure at the very heart of Jangwi New Town,” a representative from Daewoo E&C said.
BY PARK YEEUN [[email protected]]
