Hyundai E&C is changing the skyline of Daejeon with its new apartment community that will stand as the tallest building in Dong District in the east of the city, according to the major engineering and construction firm, Thursday.
Hillstate Gayang The Wise, a commercial and residential complex with three buildings, each 49 floors tall and altogether housing 358 apartment units, has reserved its spot in the city's cityscape. The new local landmark will offer views unlike anything else in the vicinity and begin lot sales next month. The move-in date is set for October 2024.
In terms of its location, the new development will lead the region's apartment market with advantages like convenient access to public transportation and facilities for shopping and education, proximity to a highway and prospective chances for local urban development. The city's reviving apartment market is also assisting the company. Out of 17 provinces and major cities in the country, Daejeon has registered the highest purchase volume of apartment units offered in lots as of September.
"Apartment units from Hillstate are selling well in Daejeon which has created a ripple effect arousing public interest in the city's apartment market," an official from the company said, referring to the company's signature premium-level apartment brand.
The brand's popularity has been ranked as No. 1 in the country for 56 consecutive months since 2019, according to the official citing industry observers. The city government on Nov. 3 selected the construction site for Hillstate Gayang The Wise in Gayang-dong as an "exemplary construction site of the year" based on how faithfully the firm has been abiding by rules in building and inspecting the site for quality control.
The new Hillstate development in Daejeon comes as the National Assembly on Oct. 6 passed the Special Act on Urban Innovation Hubs in Mega City-Regions, opening the door for more rigorous urban development projects nationwide. The project will translate to improving the living conditions for some 20,000 households in the district, according to the firm.