A 3D view of “Raemian One Bailey,” an apartment complex, to be built at the 1-1, Banpo-dong area in Seocho-gu, Seoul. (Photo: Samsung C&T Construction Group)

Samsung C& T Construction Group has unveiled cyber model houses for “Raemian One Bailey,” an apartment complex, to be built at the 1-1, Banpo-dong area in Seocho-gu, Seoul, and gone into a distribution mode.

The Raemian One Bailey Project involves the construction of 23 buildings, each with up to 35 floors and four basement floors.

It is a mega project for building 2,990 apartment units ranging from 46 sq. meters to 234 sq. meters in exclusive floor space.

Out of the total, 224 units each with 46 sq. meters to 74 sq. meters in exclusive floor space will be distributed to the general public.

In an exclusive floor space perspective, the allotments for the general public consist of two units for 46 square-meter A type, 112 units for 59 square-meter A type, 85 units for 59 square-meter B type, eight units for 74 square meter A type, six units for 74 square-meter B type and 11 units for 74 square-meter, C type.

Raemian One Bailey is a project involving the reconstruction of the former Shin Banpo No. 3 and Kyeongnam apartments.

The project’s application of a distribution price cap is expected to spur consumers’ concern over it. The distribution price for the general public is set at 56.53 million won per 3.3 sq. meters.

Raemian One Bailey is “Raemian Town” with about 8,000 households, one of the biggest ones in the Banpo-dong area in Gangnam, boasting a vintage placement with a breath-taking view of the Han River.

Raemian One Bailey will emerge as a landmark structure with differentiation facades and a “sky bridge,” connecting apartment buildings in which people can take a view of the river.

Raemian One Bailey boasts of excellent transportation conditions. The apartment complex will be located near stations of Seoul’s subway lines Nos. 3, 7 and 9 and a walking distance from Seoul Expressway Bus Terminal. It has good access to downtown urban districts thanks to the Gyeongbu (Seoul-Busan) Expressway, Olympic Highway, Banpo Grand Bridge and Dongjak Grand Bridge.

Residents of the apartment complex will travel to Honam routes via Central City Terminal and Seoul-Busan/Seoul-Yeongdong routes via Seoul Expressway Bus Terminal. Thirty bus routes will be made available in the neighborhood area of the apartment complex.

Raemian One Bailey has many amenity facilities and pleasant living environment such as Shinsaegae Department Store, New Core Outlet, Kim’s Club, Central City shopping mall and other multi-purpose shopping facilities, Seoul St. Mary’s Hospital, National Library, the Supreme Court, and prosecutors’ offices.

It has good sports and leisure facilities such as Banpo Hangang Park, Shin Banpo Park, Seoraeseom, Sevit, Seoripul Park, Montmarte Park, and Banpo Integrated Sports Complex in which people can enjoy sports and leisure activities.

It has a good education environment with prominent neighborhood schools such as Gaeseong Primary School, a renowned private school, Jamwon Primary School, Banpo Primary School, Banpo Middle School, Sehwa Girls’ Middle School, Sewha Girls’ High School, and Sewha High School.

Raemian One Bailey has differentiation landscape and high-end community facilities to raise occupants’ satisfaction.

Each apartment building has its own small-sized differentiation landscape space under the landscape design concept “Cluster & Lounge Garden” and each cluster will have its unique design.

Raemian One Bailey has resort-style gardens, combining the strengths of large-sized complex and villas. It has community facilities such as sky lounges, swimming pools, indoor sports gymnasiums, fitness centers, golf ranges, and sauna facilities.

The apartment complex is outfitted with eco-friendly facilities and advanced amenity facilities.

The complex will be built as a first-class efficiency one, and renewable energies such as photovoltaic power and geothermal heat will be utilized.

Raemian’s diverse smart home technologies such as a face recognition entry system, a voice recognition system will be employed to make it safe and convenient.

A Samsung C&T official said now that concern is mounting that Raemian One Bailey will be a new landmark one in the Banpo area, it is expected to log a high subscription competition rate.

But a 10-year ban on subscription transactions, a three-year living-in requirement and no loans on intermediate installment money are expected to suit consumers without houses who want to enter the Gangnam area, rather than in an investment perspective.

1st-round draft subscription applications will be accepted on June 17, and lottery outcomes will be announced on June 25. Contracts for successful applicants will be done between July 9 and July 13.