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The Korea Herald
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THE INVESTOR
April 16, 2024

Market Now

Hyundai's Hillstate Dongtan Forest offers unique opportunities

  • PUBLISHED :February 29, 2024 - 17:43
  • UPDATED :February 29, 2024 - 17:43
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Rendering of the Hillstate Dongtan Forest apartment complex (Hyundai E&C)

Hyundai Engineering & Construction, South Korea's construction giant, announced on Thursday its search for additional tenants at Hillstate Dongtan Forest, a public-supported private rental apartment complex in Dongtan, Gyeonggi Province.

The complex, featuring eight 20-level buildings and offering a total of 585 units, provides a diverse array of living spaces. Comprising 198 units with 84 square meters and 387 units with a more spacious 101 square meters, it caters to various accommodation needs.

Crafted with residents' comfort in mind, a majority of the units face south, ensuring ample sunshine, while the architectural design incorporates cross ventilation. Emphasizing spacious balconies and dressing rooms, the complex prioritizes optimal space utilization for a comfortable living experience.

Setting itself apart from other public-supported rental apartments, Hyundai aims to provide tenants with pre-sale and confirmed sale price rights. Additionally, it commits to a decadelong rent freeze, ensuring financial stability for tenants. The added perk of tax benefits further sweetens the deal for residents.

The strategic location of the complex is noteworthy, situated within walking distance of train and tram stations. With the upcoming operational GTX-A train from March, residents will enjoy enhanced access to Seoul, and the Dongtan Urban Railway will facilitate convenient mobility within the city.

Hillstate Dongtan Forest thrives in a well-established educational environment, boasting prestigious elementary and high schools in close proximity. Surrounded by nature-friendly and convenient facilities, including parks and streams, the complex offers an appealing living environment.

Notably, the complex's future value and sale prices are expected to surge. Adjacent to Yongin, a government-selected massive chip cluster, the region's prospects are further strengthened by ongoing government and industry efforts to establish a semiconductor cluster.

"Hillstate Dongtan Forest represents a last opportunity for reasonable prices in Dongtan New Town. The chance to purchase the property after the rental period is a unique advantage not commonly found in private rental apartments, making this a rare opportunity," stated a real estate expert.

By Heo Yu-yeong (yjheo@heraldcorp.com)

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