Table of Contents
Summit Limited Namcheon scheduled for sale in July, sale price, 50 million won per pyeong / Announcement of approval for modification of housing construction project plan
- Area of 545-2 Namcheon-dong, Suyeong-gu
‘Namcheon Prugio Summit (Brand name: Summit Limited Namcheon)’ located in Namcheon-dong, Suyeong-gu, Busan has received approval for modification of the housing construction project plan and will proceed with general sales in July. This complex is designed to consist of 835 units from the basement 5 floors to the 40th floor. Construction has been decided to be undertaken by Daewoo Engineering & Construction.
According to the modification announcement, the total floor area has slightly decreased to 240,026㎡, but the highest floor has increased by one. The groundbreaking date is scheduled for May 31, 2025, and the occupancy inspection is planned to be conducted on January 23, 2029.
It is anticipated that the sale price in Busan will reach the highest level. According to internal documents, the price per pyeong will be about 50 million won, and certain types may exceed 57 million won. Considering the view rights and rarity, high-priced sales similar to Gangnam are expected.
| Type | Exclusive (㎡) | Number of Units | Price per pyeong (10,000 won) | Price per unit (100 million won) |
| 84A | 84.99 | 73 | 3,653 | 12.2 |
| 113A | 113.45 | 72 | 4,530 | 20.3 |
| 142A | 142.13 | 72 | 4,765 | 26.5 |
| 177A | 177.99 | 68 | 4,706 | 32.6 |
| 182A | 182.29 | 136 | 4,780 | 33.6 |
| 243PA | 243.18 | 2 | 5,747 | 54.7 |
As it is located in a place where you can enjoy views of Gwangalli Beach and Gwangandaegyo Bridge, the 84㎡ apartments are expected to be priced at around 1.2 billion won. Meanwhile, penthouses are expected to be in the mid 5 billion won range. (However, changes may occur upon the announcement of the recruitment of tenants.)
It is within walking distance from Namcheon Station (Line 2), and easily accessible to the Hwangryeong Tunnel and Gwangandaero, allowing residents to enjoy the conveniences of living in the city center and Haeundae area at the same time. Within a 1km radius are Good Kang-an Hospital, Namcheon Elementary School, Busan Central High School, and Gwangalli commercial area, providing even more convenient living.
Recently, newly constructed apartments located along the Gwangalli line are selling quickly, increasing demand for premium residential areas. Industry experts predict that units with views of Gwangandaegyo Bridge will command a premium of several hundred million won after sales. Once the complex is completed, it is expected that a high-end ocean view belt in Gwangalli will be established and that reconstruction and redevelopment in Namcheon-dong will accelerate. Additionally, it is expected that the prices of nearby aging residential areas will rise and that high-end commercial and cultural facilities will influx, enhancing the value of the area.
Gwangju Metropolitan City Suyeong-gu Announcement No. 2025-53
Announcement of approval for modification of housing construction project plan
Regarding the housing construction project initially approved under Announcement No. 2024-70 (September 4, 2024) of Suyeong-gu, Busan, located in the area of 545 Namcheon-dong, Suyeong-gu, Busan, the modification of the housing construction project plan has been approved in accordance with Article 15, Paragraph 4 of the Housing Act, and is hereby announced as follows in accordance with Article 15, Paragraph 6 and Article 30, Paragraph 5 of the Enforcement Ordinance of the same Act.
Date: May 14, 2025
Mayor of Suyeong-gu, Busan
1. Name of the Project: New Construction Project of Apartments in the area of 545-2 Namcheon-dong, Suyeong-gu, Busan
2. Name and Address of the Project Subject
a. Name: Cube Gwang-an PAVF Co., Ltd.,
Daewoo Engineering & Construction Co., Ltd.,
SC Construction Co., Ltd.
b. Address: 1801 B-dong, 397 Seocho-daero, Seocho-gu, Seoul (Seocho-dong, Boutique Monaco),
A-dong, 170 Eulji-ro, Jung-gu, Seoul,
111 B-dong, 43 Daehak-ro, Yeongtong-gu, Suwon-si, Gyeonggi-do (Eui-dong, Gwanggyo Eco Prugio)
3. Location, Area, and Scale of the Project Area (Modification)
a. Location: Area of 545-2 Namcheon-dong, Suyeong-gu
b. Land area: 30,596㎡
c. Building area: 8,770.1952㎡
d. Total area: 241,026.651㎡
e. Scale: 5 stories below ground / 40 stories above ground, 5 buildings (835 residential units)
f. Purpose: Apartments, Auxiliary and Welfare Facilities
4. Project Implementation Period: May 31, 2025 – January 23, 2029
5. Changes
a. Change of joint project entities
▶ Project entity: Cube Gwang-an PAVF Co., Ltd. → Cube Gwang-an PAVF Co., Ltd. and 2 others
b. Scheduled groundbreaking date: March 31, 2025 → May 31, 2025
c. Scheduled inspection date: January 1, 2032 → January 23, 2029
d. Changes in design overview
▶ Total floor area change: 244,303.37㎡ → 241,026.651㎡ (decrease of 3,276.719㎡)
▶ Number of units change: 845 units → 835 units (decrease of 10 units)
▶ Change in number of above and below ground floors: Above ground: 39 floors → 40 floors, Below ground: 4 floors → 5 floors
※ Change in structure due to high ceiling area (change in height)
e. Other design changes: Ground floor change, entrance road change/main entrance/elevator shaft/rooftop facilities planning change, unit number change, machine room/electric room location change, auxiliary welfare facility floor plan change, addition of community facilities, scale change of neighborhood commercial facilities, etc.
Classification
Announcement
Agency Classification
District
Agency
Suyeong-gu
Announcement Number
No. 2025-53
Title
Announcement of approval for modification of housing construction project plan
Date
May 21, 2025
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