The first purely private presale apartment complex in a third-generation new town is coming to Gyeyang New Town in Incheon. Bando Engineering & Construction will supply the project, named Gyeyang New Town Kaive Ubora. Housing supply in Gyeyang New Town has so far centered on public presales by Korea Land & Housing Corporation (LH), and the start of branded private supply is expected to widen the range of options for buyers.
Bando E&C will hold the presale of Gyeyang New Town Kaive Ubora, a mixed-use residential complex, on the AC3 and AC4 blocks of Gyeyang New Town next month, according to industry sources on the 28th. The complex will consist of 16 buildings ranging from two basement levels to 15 floors above ground, totaling 1,110 units. The AC3 block will hold 614 units and the AC4 block 496 units.
What stands out is access to western Seoul. Residents can travel from Bakchon Station on Incheon Line 1 to Gyeyang Station, then transfer to the Airport Railroad to reach Gimpo Airport Station. At Gimpo Airport, riders can switch to Lines 5 and 9 and the Seohae Line, or stay on the Airport Railroad to reach Magoknaru Station. From Gyeyang Station, the Airport Railroad also runs toward Seoul Station. Reaching major business districts such as Yeouido or Gwanghwamun requires two or more transfers. A plan to connect the Daejang-Hongdae Line to Gyeyang New Town is also under way.
The AC3 and AC4 blocks differ in location and unit mix. The AC3 block, positioned toward Bakchon Station, offers relatively better access to the station than the AC4 block, and will also house a community care center providing after-school care for elementary school students, serving dual-income families and others. The 92-square-meter unit type is also slated to be supplied only in the AC3 block. The AC4 block features a layout linked to a linear park. Buyers who prioritize public transit and childcare facilities may want to look at the AC3 block, while those who value park access may prefer the AC4 block. Detailed floor plans, building and unit assignments, and orientation have not yet been disclosed. Specific product information is typically released around the time of the applicant recruitment notice and the opening of the model house. For Kaive Ubora as well, related information is expected to be released in stages ahead of next month's presale. Whether duplicate applications will be allowed across the AC3 and AC4 blocks has not yet been decided.
The surrounding neighborhood will begin taking shape in earnest from late this year. In Gyeyang New Town, 1,285 units on the A2 and A3 blocks are targeting their first move-in this December. Infrastructure such as schools and parks is expected to follow in stages along with further housing supply. Gyeyang AX Park, which will serve a self-sufficiency function, is also being developed. At the adjacent Bucheon Daejang urban high-tech industrial complex, Korean Air, SK Innovation, SK hynix and DN Solutions have signed land purchase agreements, making corporate recruitment concrete. These companies are scheduled to move in sequentially between 2029 and 2031, so the underlying demand also needs to be viewed from a medium- to long-term perspective.
Convenience facilities are expected to rely heavily on existing urban centers in the early stages of occupancy. At present, facilities such as large discount stores have not been sufficiently developed inside Gyeyang New Town. The existing Gyeyang area has Lotte Mart Gyeyang and E-Mart Gyeyang, but neither is within walking distance of the complex. Until the new town's local amenities are complete, residents will likely need to drive to use facilities in the established Bakchon, Gyesan and Jakjeon areas. For education, sites for a kindergarten, an elementary school and a middle school are laid out near the complex. If the schools are built as planned, children will be able to attend from kindergarten through middle school within the new town, an advantage.
Locally, interest so far has been more pronounced among residents of nearby areas such as Gyeyang District than among buyers from outside. "The people inquiring now are mainly local residents, and there is demand to buy a newly built apartment," an official at a local brokerage said. "Even if they sell their existing home, they would need to borrow an additional 100 million to 150 million won, but the sense is that presale prices for new units will rise further, so they think it is better to buy as early as possible."
The presale price level is seen as a key variable that will determine application results. Public presale prices in Gyeyang New Town have also risen steeply of late. The highest presale price for an 84-square-meter unit on the A2 block, supplied in 2024, was 584.11 million won, but an 84-square-meter unit on the A6 block supplied this year averaged about 710 million won. The presale price for Gyeyang New Town Kaive Ubora has not been finalized, but figures of around 22 million won per 3.3 square meters are being discussed locally. Applied to an 84-square-meter unit, that works out to the mid-700 million won range. The final presale price will be confirmed through the applicant recruitment notice.
