Leica County Prior Notification / Geoje District 2 Redevelopment Project Partial Prior Notification
- 1536 Geoje-dong, Yeonje-gu and 30 other parcels
Leica County, located in Geoje-dong, Yeonje-gu, Busan, has completed the partial prior notification and has officially started the property transfer procedures. This complex is a large apartment complex developed as part of the Geoje District 2 redevelopment project, boasting a total of 4,470 units. Major construction companies in South Korea, including Samsung C&T, Daelim Industrial, and HDC Hyundai Industrial Development, participated in this project, with completion expected by the end of 2023 and occupancy to commence, but the ownership transfer process took over a year.
The redevelopment area of District 2 is extensive, necessitating the implementation of a partial prior notification for the buildings. This procedure allows for the transfer of ownership of the land and buildings, enabling members to proceed with individual registrations. However, the public infrastructure and urban planning facilities within the complex will undergo donation and ownership transfer following the completion procedures in the future.
This is an essential process for the official allocation of public facilities to the relevant authorities, ensuring smooth operation and maintenance of the infrastructure within the project area. Efforts continue to allow residents to establish a stable living environment.
Leica County consists of 34 buildings, with a structure extending from 3 basement levels to 35 above ground. It offers various area options, with exclusive areas ranging from 59㎡ to 114㎡. Notably, the 84㎡ type accounts for 1,563 units, making up the largest proportion. Additionally, five buildings of neighborhood living facilities have been constructed, significantly enhancing the convenience for residents.
Currently, the market price for Leica County is set between approximately 340 million won and 1.28 billion won for the 84㎡ type. This varies slightly based on floor level, direction, and building location, averaging about 23.01 million won per 3.3㎡. Thanks to its excellent location, it is recognized for its high value, and transaction activity is anticipated to increase further due to this prior notification.
Leica County is conveniently located near Geoje Station on Busan Subway Line 3, making transportation very accessible, and is known for having a high demand among actual residents due to its various living conveniences. Additionally, the internal community spaces and green areas are well developed, offering residents a pleasant living environment.
Through the recently conducted prior notification, members have gained substantial opportunities to exercise their property rights, which is expected to positively affect the value increase and transaction activation of the complex. However, some donation and ownership transfer processes for the remaining infrastructure and urban facilities still remain, suggesting that additional time will be needed until final project completion.
These processes will become essential factors that will further enhance the future value of the Leica County complex.
Geoje District 2 Housing Redevelopment Management Project Association Notification No. 2025-1
Partial Prior Notification for Geoje District 2 Redevelopment Project
1. In accordance with Article 83 of the "Urban and Residential Environment Maintenance Act," the partial completion notification for the "Geoje District 2 Redevelopment Project" has been issued by Busan Metropolitan City, Yeonje-gu Notice No. 2023-98 (2023.12.06.) and No. 2024-61 (2024.09.25.). This notification is to announce the transfer of ownership related to the land and buildings according to Article 86, Paragraphs 1 and 2 of the "Urban and Residential Environment Maintenance Act."
2. Relevant documents are available at the Geoje District 2 Housing Redevelopment Management Project Association office (☎ 051-502-1361) for interested parties to view.
March 19, 2025
Chairman of the Geoje District 2 Housing Redevelopment Management Project Association Lee Sang-ho
- Notification Content -
1. Type and Name of the Redevelopment Project: Geoje District 2 Redevelopment Project
2. Location and Area of the Project Area
1) Location: 1536 Geoje-dong, Yeonje-gu, Busan and 30 other parcels
- Key Point: Area around 802 Geoje-dong, Yeonje-gu, Busan
2) Maintenance District Area: 237,922.7㎡
3) Prior Notification Area: 237,922.7㎡, Net Usable Land Area: 187,421.4㎡
3. Main Office and Name of the Implementing Agency
1) Office: 8 Haemaji-ro 81beon-gil, Geoje-gu, Busan
2) Name: Geoje District 2 Housing Redevelopment Management Project Association
4. Date of Management Plan Approval: May 4, 2016
5. Date of Partial Completion Approval: November 29, 2023 (excluding Complexes 1-4, external PIT walls of Complex 3 and Complex 5)
6. Date of Partial Completion Approval: September 13, 2024 (external PIT walls of Complex 3 and Complex 5)
2) Building
| Category | Multi-family Housing | Neighborhood Living Facilities | Total |
| Total Floor Area (㎡) | 695,389.0258 | 10,825.1605 | 706,214.1863 |
| Number of Buildings | 34 | 5 | 39 |
| Number of Floors | 3 basement to 35 floors above ground | 3 basement to 1 floor above ground | - |
| Number of Units | 4,470 units | 127 units | 4,597 |
3) Number of Beneficiaries by Land or Building
| Type | Exclusive Area | Total | Member Sale | General Sale | Rental Housing |
| Total | - | 4,470 | 1,481 | 2,759 | 230 |
| 39 (Rental) | 39.4319 | 140 | - | - | 140 |
| 49A (Rental) | 49.8694 | 90 | - | - | 90 |
| 49A | 49.8694 | 83 | 3 (including 1 reserved site) | 80 | - |
| 49B | 49.8694 | 9 | 2 (including 1 reserved site) | 7 | - |
| 59A | 59.9866 | 584 | 161 (including 3 reserved sites) | 423 | - |
| 59B | 59.9978 | 194 | 6 (including 1 reserved site) | 188 | - |
| 75A | 75.9379 | 134 | 130 | 4 | - |
| 75B | 75.9032 | 70 | 68 | 2 | - |
| 84A | 84.8261 | 1,563 | 581 (including 6 reserved sites) | 982 | - |
| 84B | 84.9823 | 1,131 | 58 (including 3 reserved sites) | 1,073 | - |
| 101A | 101.6538 | 237 | 237 | - | - |
| 101B | 101.8683 | 99 | 99 | - | - |
| 114A | 114.9410 | 70 | 70 | - | - |
| 114B | 114.6442 | 66 | 66 | - | - |
Category
Notification
Agency Classification
Other Agency
Agency
Geoje District 2 Housing Redevelopment Management Project Association
Notification Number
No. 2025-1
Title
Partial Prior Notification for Geoje District 2 Redevelopment Project
Date
2025-03-19
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