Daewoo Engineering launches pre-sales for Geomam Station Prugio Pravenue

Daewoo Engineering & Construction announced Friday it will launch pre-sales for Geomam Station Prugio Pravenue, a residential complex being developed in Geomam-dong, Seohaegu, Incheon.

Apartment subscriptions open with special supply on Aug. 31, followed by first-priority on Sept. 1 and second-priority on Sept. 2. Winners will be announced Sept. 8, and binding contracts are scheduled over three days from Nov. 2 to 4.

The complex is a public-private housing development, with about 75% of all units allocated to special supply. Categories include a newborn special supply — allocated at 20%, a full 10 percentage points higher than in standard private-sector projects — along with first-time buyer and newlywed designations, among others.

The newlywed special supply is also open to prospective couples and single-parent households with children aged 6 or under. Unlike private-sector housing, where couples may submit duplicate applications only under special supply, this development allows duplicate spousal applications under the general supply category as well.

To qualify for first-priority subscription, applicants must be members of a household with no home ownership residing in Incheon or the Greater Seoul metropolitan area — including Seoul and Gyeonggi Province — as of the date of the resident recruitment announcement, and must hold a housing subscription account with at least 12 months of enrollment and 12 monthly payments. As a public housing development, all household members must be without a home to apply under both special and general supply. Prospective buyers should also note that single-person households are not eligible for the first-time buyer special supply.

Special supply applicants — excluding those under institutional recommendation — must meet income and asset requirements, though relaxed criteria apply to households with a child born on or after March 28, 2023. Given the multi-tiered income brackets, the developer recommends verifying eligibility in advance — including through consultations at the model home — to avoid disqualification after winning.

The resale restriction period runs three years from the date winners are announced, and no owner-occupancy requirement applies.

The Geomam Station transit-oriented public housing district, spanning Geomam-dong and Gyeongseo-dong, covers about 810,310 square meters of public land. Developed by Incheon Housing & City Corporation, the project is designed to accommodate a planned population of 16,200 residents across 6,636 households, with the goal of creating a self-sufficient, eco-friendly community combining residential, commercial and business functions.

Geomam Station Prugio Pravenue sits within walking distance of Geomam Station, an interchange between the Airport Railroad and Incheon Metro Line 2, making it a double transit hub. Via the Airport Railroad, residents can reach major Seoul business districts — including Digital Media City and Seoul Station — in about 30 minutes. Transferring to Metro Line 9 at Gimpo Airport Station provides easy access to Yeouido and Sinnonhyeon. Incheon Metro Line 2 also connects to Seoknam Station on Line 7 and Juan Station on Line 1, enabling travel to other parts of the greater metropolitan area.

By road, the nearby Cheongna interchange offers straightforward access to the Incheon International Airport Expressway and the Seoul Ring Expressway. Once a planned multimodal transit center at Geomam Station is completed, regional transport links are expected to improve further.

The surrounding area features a range of green spaces, including the Ara Waterway riverside park, Sangdong Park and the Dream Park wildflower garden. Residents will also have access to commercial facilities planned near Geomam Station, as well as infrastructure shared with Cheongna International City — including E-mart's Geomdan branch and Catholic Kwandong University International St. Mary's Hospital — and the everyday amenities of Geomdan New Town.

All units are oriented primarily to face south to maximize natural light and ventilation. Unit types range from 60 to 84 square meters in exclusive use area, targeting demand for small-to-mid-size homes. Most units feature a four-bay flat-slab layout to maximize space efficiency, with pantry and walk-in closet storage included.

Community facilities within the complex include a fitness center, a Greenery Studio combining a small library and reading room, a multipurpose room serving as a neighborhood convenience facility, a senior club, a guesthouse and a daycare center.

The model home, which opened Friday, is located in Gyeongseo-dong, Seohaegu.

Meanwhile, Daewoo Engineering & Construction posted preliminary consolidated earnings for the first half of this year showing sales of 3.99 trillion won ($2.85 billion), operating profit of 487.9 billion won and net profit for the period of 363 billion won.