Table of Contents
Hillstate Prugio Saha Station Forest / Announcement of the Management Disposal Plan Approval for the Goejeong District 5 Redevelopment Project
- Area of Goejeong-dong 571-1, Saha-gu
The management disposal plan regarding the redevelopment project of Goejeong District 5 in Saha-gu, Busan, was approved on August 20, 2025, and officially announced on August 27.
This project is led by the Goejeong District 5 Housing Redevelopment Maintenance Project Association, and the area of the maintenance district spans 163,895.5㎡. The project is expected to proceed for 60 months from the date of the project implementation approval, which comes approximately 5 years after the project implementation plan approval in July 2020.
A consortium of Hyundai Engineering & Construction and Daewoo Engineering & Construction has been newly appointed as the construction company. Originally, in 2018, POSCO E&C and Lotte Construction were selected as the construction companies, but the contract was terminated in February 2024 due to rising construction costs. After a re-bidding process, Hyundai Engineering & Construction and Daewoo Engineering & Construction were ultimately confirmed as the final contractors in September 2024.
The consortium has named the new apartment complex ‘Hillstate Prugio Saha Station Forest’. This project will be conducted in collaboration with the foreign architectural firm Acaris to apply luxurious design.
The construction cost is set at 6,738,000 won per 3.3㎡, amounting to a total project cost of 1.3086 trillion won. This is a significant increase from the 4.45 million won proposed by the initial POSCO and Lotte consortium.
With the rise in construction costs, the sale prices for members of the association have also increased. In February 2025, the association decided to raise the sale price for members from an average of 13.8 million won to 16.5 million won per 3.3㎡, an increase of approximately 2.7 million won (19.6%). The general sale price also rose from an average of 22 million won to 22.5 million won, about a 1.5 million won increase, which is a 7.1% adjustment. The association explained that this adjustment was unavoidable considering the decrease in member ratios due to rising construction costs.
According to the construction plan, the complex will consist of 26 buildings, with a structure ranging from 4 underground floors to 39 aboveground floors. A total of 3,509 housing units are scheduled for supply, of which 3,301 units will be for sale and 208 units will be for rent.
Additionally, there will be 52 business facilities and a neighborhood living and retail space covering 22,693㎡, developing into a large-scale complex that harmoniously integrates residential, commercial, and convenience facilities.
| Number of Units | Number of Units by Housing Size [based on exclusive area (㎡)] | Business Facilities | ||||||||||||
| 19 | 35 | 59A | 59B | 84A | 84B | 101A | 101B | 118A | 118B | 118C | 39 | 84A | 84B | |
| 19.95 | 35.67 | 59.94 | 59.97 | 84.89 | 84.97 | 101.96 | 101.96 | 118.99 | 118.95 | 118.95 | 39.41 | 84.42 | 84.48 | |
| 3,509 | 92 | 270 | 242 | 220 | 1,138 | 484 | 121 | 115 | 271 | 142 | 206 | 208 | 26 | 26 |
The supply plan consists mainly of exclusive areas of 59㎡, 84㎡, 101㎡, and 118㎡. Notably, more than 1,600 units are assigned to the 84㎡ type considering the preferences of actual users. Additionally, 208 units will be provided as rental housing.
This complex is located directly in front of Saha Station on Busan Subway Line 1, ensuring excellent transportation convenience. It is also situated near excellent educational institutions such as Saha Elementary and Saha Middle Schools, surrounded by beautiful natural environments including the Nakdong River and Seunghak Mountain.
The complex plans include a 500m-long central square reminiscent of New York's Central Park, nine themed gardens, a 5.1km walking path, and a triple sky community, positioning it to become a landmark complex in Western Busan.
The Goejeong District 5 redevelopment project is placing a greater burden on members due to rising construction costs. However, there is high potential for growth as a key residential area in Western Busan in terms of location, scale, brand power, and specialized design of the complex. The association plans to expedite business promotion with the aim of relocation by the end of the year.
Recommended Reads When Viewing Goejeong Redevelopment in Saha-gu, Hadan
Announcement No. 2025-90 of Busan Metropolitan City Saha-gu
Announcement of the Management Disposal Plan Approval for the Goejeong District 5 Redevelopment Project
According to the announcement No. 2020-79 (2020.7.8) by Busan Metropolitan City Saha-gu, the management disposal plan for the Redevelopment Project of Goejeong District 5 in Saha-gu is approved in accordance with Article 74 of the Urban and Residential Environment Improvement Act, and as per Article 78(4) of the same Act and Article 13 of the enforcement regulations of the same Act, it is hereby announced as follows.
Date: August 27, 2025
Mayor of Saha-gu, Busan Metropolitan City
1. Type and Name of the Maintenance Project
: Goejeong District 5 Redevelopment Project
2. Location and Area of the Maintenance District
: Area of Goejeong-dong 571-1, Saha-gu, Busan Metropolitan City (District Area: 163,895.5㎡)
3. Name and Address of the Project Implementer
a. Name
: Goejeong District 5 Housing Redevelopment Maintenance Project Association (Chairman Seotaeyoung)
b. Address
: 301 Nakdong-daero, Saha-gu, Busan, 201 Il Dong Gi Enin Commercial Building
4. Date of Management Disposal Plan Approval
:
August 20, 2025
5. Project Duration
: From the date of project implementation approval ~ 60 months
6. Summary of Management Disposal Plan Approval
a. Land Use Plan (㎡)
| Total Area (㎡) | Land | Maintenance Infrastructure | Others | |||||||
| Subtotal | Housing Sale | Housing Rent | Commercial Area, etc. | Subtotal | Roads | Parks | Religious Facilities | Senior Facilities | Public Office | |
| 163,895.5 | 122,686.7 | 113,085.9 | 3,386 | 6,214.8 | 37,497.7 | 26,873.2 | 10,624.5 | 1,545.8 | 998.3 | 1,167 |
b. Scale of Land and Buildings
| Construction Plan | Use | Land Area (㎡) | Number of Buildings | Number of Floors | Number of Units | Total Floor Area (㎡) | |
| Housing | Subtotal | 116,471.9 | 26 | 4 underground floors ~ 39 floors above ground | 3,509 | 573,904.55 | |
| Sale | 113,085.9 | 25 | 4 underground floors ~ 39 floors above ground | 3,301 | 557,021.81 | ||
| Rental | 3,386.0 | 1 | 2 underground floors ~ 21 floors above ground | 208 | 16,882.74 | ||
| Business Facilities | 1,620.7 | 1 | 4 underground floors ~ 29 floors above ground | 52 | 9,401.92 | ||
| Neighborhood Living & Retail Facilities | 4,594.1 | - | 4 underground floors ~ 2 floors above ground | - | 22,693.43 | ||
c. Scale of Sale or Reserved Land
| Target Supply | Number of Units | Number of Units by Housing Size [based on exclusive area (㎡)] | Business Facilities | Commercial Area (㎡) | ||||||||||||
| 19 | 35 | 59A | 59B | 84A | 84B | 101A | 101B | 118A | 118B | 118C | 39 | 84A | 84B | |||
| 19.95 | 35.67 | 59.94 | 59.97 | 84.89 | 84.97 | 101.96 | 101.96 | 118.99 | 118.95 | 118.95 | 39.41 | 84.42 | 84.48 | |||
| Total | 3,509 | 92 | 270 | 242 | 220 | 1,138 | 484 | 121 | 115 | 271 | 142 | 206 | 208 | 26 | 26 | 22,693.44 |
| Land Owners | 1,719 | - | 17 | 117 | 9 | 852 | 32 | 121 | 84 | 271 | 79 | 137 | - | 11 | 2 | 9,101.65 |
| Reserved Area | 17 | - | - | - | - | 17 | - | - | - | - | - | - | - | 1 | - | 142.1488 |
| General Sale | 1,565 | 92 | 253 | 125 | 211 | 269 | 452 | - | 31 | - | 63 | 69 | - | 14 | 24 | 13,449.64 |
| Rental | 208 | - | - | - | - | - | - | - | - | - | - | - | 208 | - | - | - |
d. Specifications for New or Abolished Maintenance Infrastructure
| New Installations | Abolition | |||||||
| Type | Name | Scale (㎡) | Installation Cost (won) | Managing Authority | Type (Name) | Scale (㎡) | Public Property (㎡) | Free Transfer (㎡) |
| Parks | Children's Park | 3,040.5 | 5,012,175,000 | Saha-gu Office | Road | 20,189.2 | 20,189.2 | 9,667.9 |
| Small Park 1 | 6,004.9 | 10,676,255,350 | Saha-gu Office | Park | 318.8 | 318.8 | 318.8 | |
| Small Park 2 | 520.2 | 1,209,117,000 | Saha-gu Office | Others (Public Office) | 633.1 | 633.1 | 633.1 | |
| Small Park 3 | 1,058.9 | 2,248,230,000 | Saha-gu Office | |||||
| Roads | Major Road 1-6 | 1,060.3 | 5,116,958,500 | Saha-gu Office | ||||
| Intermediate Road 1-307 | 4,249.7 | 10,137,012,200 | Saha-gu Office | |||||
| Intermediate Road 2-47 | 10,380.7 | 21,334,034,700 | Saha-gu Office | |||||
| Intermediate Road 2-50 | 4,436.0 | 12,514,858,850 | Saha-gu Office | |||||
| Intermediate Road 2-476 | 731.0 | 2,374,010,500 | Saha-gu Office | |||||
| Intermediate Road 2-477 | 5,399.6 | 10,877,112,950 | Saha-gu Office | |||||
| Minor Road 3-113 | 521.2 | 935,563,000 | Saha-gu Office | |||||
| Minor Road 3-311 | 94.70 | 204,864,000 | Saha-gu Office | |||||
e. Expected Demolition Date of Existing Buildings:
Detailed schedule to be determined and carried out after management disposal plan approval.
Category
Announcement
Institution Type
District
Institution
Saha-gu
Announcement No.
No. 2025-90
Title
Announcement of the Management Disposal Plan Approval for the Goejeong District 5 Redevelopment Project
Date
2025-08-27
#Busan, #Saha-gu, #Goejeong District 5, #Redevelopment, #Management Disposal Plan Approval, #Hyundai Engineering & Construction, #Daewoo Engineering & Construction, #Consortium, #Construction Cost 1.3 Trillion, #Apartment Buildings, #Office-Tels, #Hillstate Prugio, #Triple Sky, #Ultra-Station Area, #Saha Station, #Saha Elementary, #Saha Middle, #Large Complex, #Community, #Landmark, #Sale Units, #Rental Units, #Business Facilities, #Neighborhood Living Facilities, #Large Square, #Walking Paths, #Green Spaces, #Natural Environment, #Urban Housing, #Urban Maintenance
Frequently Asked Questions (FAQ)
Q. When was the management disposal plan approval for the Goejeong District 5 redevelopment project granted?
The management disposal plan for the Goejeong District 5 redevelopment project was approved on August 20, 2025, and announced on August 27.
The management disposal plan for the Goejeong District 5 redevelopment project was decided on August 20, 2025. It was officially announced on August 27 at the Busan Saha-gu Office, marking approximately 5 years since the project implementation plan approval in July 2020.
Q. How was the construction company for the Goejeong District 5 redevelopment project selected?
The consortium of Hyundai Engineering & Construction and Daewoo Engineering & Construction was selected as the final construction company in September 2024.
Initially, the consortium of POSCO E&C and Lotte Construction was designated as the construction company in 2018; however, due to rising construction costs, the contract was terminated in February 2024. After a re-bidding process, the consortium of Hyundai Engineering & Construction and Daewoo Engineering & Construction was confirmed as the final contractor in September 2024.
Q. What is the scale and major facilities of the Hillstate Prugio Saha Station Forest apartment complex?
It is a large-scale complex consisting of 26 buildings and a total of 3,509 units, including business and neighborhood living facilities.
This complex consists of 26 buildings ranging from 4 underground floors to 39 floors above ground, with a total of 3,509 units scheduled for supply. Of these, 3,301 units will be for sale, and 208 units will be for rent. Moreover, 52 business facilities and 22,693㎡ of neighborhood living and retail space will be included, creating a mixed-use complex that harmonizes residential, commercial, and convenience facilities.
Q. By how much have the sale prices for members and the general sale prices increased?
Sale prices for members increased by 19.6%, and general sale prices increased by approximately 7.1%.
Construction cost increases led to an approximate increase of 270,000 won (19.6%) for member sale prices from 13.8 million won to 16.5 million won per 3.3㎡. The general sale price also saw an increase from an average of 22 million won to 22.5 million won, which is around 150,000 won (7.1%). The association indicated that this adjustment was unavoidable due to the increase in construction costs and a decrease in member ratios.
Q. What is the location and surrounding environment of Hillstate Prugio Saha Station Forest?
It is located at an ultra-station area near Saha Station with excellent schools, natural environment, and convenient facilities.
This complex is located right in front of Saha Station on Busan Subway Line 1, boasting outstanding transport convenience. Excellent educational institutions like Saha Elementary and Saha Middle Schools are nearby, as well as abundant natural environments including the Nakdong River and Seunghak Mountain. The planned amenities include a 500m-long central square reminiscent of New York's Central Park, nine themed gardens, a 5.1km walking path, and a triple sky community, projected to become a prominent landmark complex in Western Busan.