The Incheon Free Economic Zone Authority is selling the last neighborhood facility sites in District 5 of Songdo International City.
The authority said Tuesday it will supply five lots of neighborhood facility land in Songdo District 5 through competitive bidding. The lots represent the final supply in District 5, with no additional offerings planned.
Each lot ranges from 2,011.8 to 2,978.1 square meters (609 to 901 pyeong), with reserve prices set between 10.4 billion won and 16.3 billion won. The sites can accommodate Class 1 and Class 2 neighborhood living facilities, as well as retail, medical, and educational research facilities.
Buyers will pay a 10% down payment, with the balance payable in four installments over two years.
Bidders must register on OnBid, the public assets disposal platform. Bid submissions will be accepted from June 9 to 25, with bid openings scheduled for 10 a.m. on June 26 at the Incheon Free Economic Zone Authority. The official notice is available on the OnBid and Incheon Free Economic Zone Authority websites.
"Considering the future land supply in Songdo, these sites have high scarcity value and offer competitive locations and prices," said Han Kyo-dong, director of the planning and policy division at the Incheon Free Economic Zone Authority. "Prospective bidders should thoroughly review the special terms, on-site conditions, district unit plans, and various administrative restrictions before participating."
