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Bundang Hyoja-chon 1 Submits Special Maintenance Plan for Reconstruction
Finance · Real Estate Development · yonhap_finance · 2026-09-09
071050
The Hyoja-chon 1 apartment complex in Bundang has submitted its special maintenance plan, moving closer to becoming a 5,000-unit high-rise residential project.
What Happened
Formal Submission: Korea Investment Real Estate Trust, a subsidiary of Korea Investment Holdings, announced that the special maintenance plan for the Hyoja-chon 1 complex in Bundang has been officially submitted. This project is part of a broader effort to revitalize aging planned cities in the region.
Project Scope: The development site, located in Seohyeon-dong, is slated to be transformed into a massive residential complex reaching up to 49 stories with 5,035 units. The trust is providing administrative and procedural support to facilitate the designation of the special maintenance zone.
Approval Timeline: Seongnam City is expected to decide on the acceptance of the plan next month, followed by public review and consultation with the city council. The final designation of the special maintenance zone is scheduled to be confirmed by December of this year.
Market Implications: The submission of this plan signals significant progress for reconstruction efforts in the Bundang area. The move is expected to boost local sentiment regarding urban renewal and long-term residential property value in the district.