Daewoo E&C consortium launches first private pre-sale in North Gyeongsang Province new town in a decade

A consortium led by Daewoo Engineering & Construction — together with Jungheung Construction and Jeil Construction — announced Thursday it will launch pre-sales this month for Gyeongbuk Provincial Office Prugio Firsteon, a new apartment complex to be built in the phase 2 zone of the North Gyeongsang Provincial Office new town in Homyeong-eup, Yecheon-gun, North Gyeongsang Province.

The complex will rise to a maximum of 25 above-ground floors across 12 buildings, with 2 below-ground floors, comprising 1,165 units all of the same 84-square-meter exclusive use area type. A price ceiling on new apartments will apply, and move-in is scheduled for August 2029.

Gyeongbuk Provincial Office Prugio Firsteon marks the first pre-sale offering in phase 2 of the North Gyeongsang Provincial Office new town and the first Prugio-brand apartment complex to enter the Yecheon and Andong area.

The development serves as the opening phase of a planned Prugio Brand Town spanning blocks B-10BL and A-4BL, which will eventually total 2,408 units. The 1,165 units in B-10BL go on sale first. It is the first private-sector apartment supply in the North Gyeongsang Provincial Office new town in about 10 years, since 2016.

The North Gyeongsang Provincial Office new town is an administrative new town under development across roughly 11 square kilometers spanning Pungcheon-myeon in Andong and Homyeong-eup in Yecheon-gun, built in line with the relocation of the North Gyeongsang Provincial Government. Major government agencies — including the North Gyeongsang Provincial Government, the North Gyeongsang Provincial Office of Education and the North Gyeongsang Provincial Police Agency — have already moved in. All 7,105 privately sold units from phase 1 sold out, and the new town's population has grown sharply to around 23,000.

The complex sits at the heart of the new town and will share the administrative, educational and commercial infrastructure already established in the phase 1 residential zone. Various amenities are close at hand, and commuting to government offices including the North Gyeongsang Provincial Government is convenient.

An elementary school site and a high school site are planned directly in front of the complex, and Homyeong Middle School is set to open in March 2027. The hagwon district in the central commercial zone and the North Gyeongsang Provincial Library are also easily accessible.

Several developments expected to raise the area's value are also in the pipeline. The most closely watched is the planned establishment of a medical school at Gyeongkuk National University. The Ministry of Education gave its final approval Wednesday, a move expected to accelerate the expansion of medical infrastructure in northern North Gyeongsang Province.

The planned relocation and reconstruction of Andong Medical Center, a project being pursued by North Gyeongsang Province, is also seen as a positive catalyst. Authorities are in discussions to build a 246-bed facility on a site of more than 30,000 square meters within the new town at a cost of 193.2 billion won ($144 million) by 2032. A public children's rehabilitation medical center for the North Gyeongsang region is also planned for the phase 2 zone. Beyond that, the development of an urban high-tech industrial complex and the construction of the North Gyeongsang Provincial Art Museum in the new town area are both moving forward in earnest.

National highways 28, 34 and 85 connect the area, making travel to northern North Gyeongsang Province — including Yecheon, Andong and Mungyeong — straightforward, and access to the Seo-Andong interchange on the Jungang Expressway is easy. Using Andong Station on the Jungang Line KTX-Eum service, passengers can reach Seoul's Cheongnyangni Station in about two hours. The complex is also surrounded by ample green space, including Jungang Park, Jungang Lake Park and a waterfront park.

All 1,165 units are designed at the 84-square-meter exclusive use area. Of the total, 936 units feature a four-bay flat-plate layout to maximize natural light and ventilation, and some unit types incorporate a three-sided balcony structure. Community facilities within the complex will include an indoor swimming pool, a sauna with baths, a kids cafe and a studio, with parking available at roughly 1.5 spaces per unit.

"This is the first Prugio to open phase 2 of the North Gyeongsang Provincial Office new town and the starting point of a 2,408-unit brand town," a Daewoo Engineering & Construction official said. "With its outstanding educational environment and central location, we are seeing a steady stream of inquiries, particularly from buyers in their 30s and 40s."

A model house will open this month in Pungcheon-myeon, Andong, North Gyeongsang Province. Meanwhile, Daewoo Engineering & Construction has recorded cumulative orders of 5.07 trillion won in urban redevelopment projects this year, surpassing the 5 trillion won mark.