Hyundai AMCO, “if the price of the house does not increase, we will refund the principal purchase cost”
Hyundai Engineering 2011/09/07프린트
Hyundai Engineering 2011/09/07프린트
- Introduction of ‘guarantee system for the entire sales price’’ that eliminated burden on the purchaser in Dangjin for the first time
- Commencement of sales of 855 (530 units for general public) residential apartment units in Dangjin in September with all the units with 84m2 floor plan
- Development of Songsan District in earnest...Park with area of 110,000m2will be established in the vicinity
Hyundai AMCO will commence sales of apartment units of Dangjin AMCO Town under unprecedented sales conditions in order to minimize unsold units.
Hyundai AMCO, subsidiary construction company of Hyundai Motors Group of Companies, (Representative Director: Sohn, Hyo Won. www.hyundai-amco.co.kr) disclosed that the company will commence sales of 855 (530 units for general public) residential apartment units in ‘‘Dangjin AMCO Town” developed on total of 680,000m2 of land within the Songsan District in Dangjin composed of 11 buildings with heights ranging from 15 floors to 21 floors.
Hyundai AMCO will open model house at the end of September and commence sales in earnest of the apartment units, all of which have 84m2 floor plan and are facing south.
In particular, Hyundai AMCO is implementing the strategy of completing the sales as quickly as possible by presenting unprecedented conditions of the sale of ‘guarantee system for the entire sales price’. ‘Guarantee system for the entire sales price’ refers to the system of returning the entire principal of sales price without penalty if the purchaser decides to cancel the sales contract from the date of signing of contract for sales of the apartment unit to 3 months prior to completion or preliminary inspection date prior to completion.
Earlier, Hyundai AMCO had success in increasing the contract signing ratio by executing “Contact condition guarantee system” that enables the purchasers who signed the contracts earlier to retrospectively benefit from the changed conditions of the sale when the company was selling the apartment units in Sangdo AMCO Town and Jinju Pyeonggeo AMCO Town.
Interior design features include total of 2 types of tabular structure with refined design that emphasized lines and the design that expresses gentle and comfortable spaces, with the option for expansion of the kitchen and master bedroom. In particular, the company will be paying special attention on the main finishing materials.
Personnel from the residential development of the company stated that “the company decided to introduce ‘guarantee system for the entire sales price’ in order to elevate the reliability of this product to those who purchase the units at Dangjin AMCO Town and to reduce the number of unsold units” and that “the company is planning to complete the sales on the basis of the trust and confidence on the apartment development composed only with 84m2 floor plan.”
Moreover, “we are planning to set the sale price at the range of 5.5~6.0 Million Won per 3.3㎡in consideration of the market values in Dangjin is in excess of 6 Million Won per 3.3㎡ to make our product more competitive.”
Construction of Dangjin AMCO Town was commenced in April with scheduled occupancy in June 2013. The company is planning to situate all the units to face south, and to establish wide areas between the buildings, fitness club, community facilities, stroll path and themed-parks with focus on pleasant lift of the residents within the complex.
Dangjin is an area with benefits of local economic growth with employment opportunities for 170,000 people and manufacturing inducement effect valued at 24 Trillion Won once the 800,000 ton capacity Hyundai Composite Steel and Iron Mill is completed.
Although the population of Dangjin was 117,500 in 2004, it has increased to almost 140,000 by the end of 2009, and large park with land area of 110,000m2 will be established along with establishment of Songsan District, the largest residential estate at the back of the Steel and Iron Mill, Therefore, it is the opinion of the company that this development would be able to sufficiently entice purchaser who will actually occupy the units.