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[BUSINESS] · South Korea · 4 sources

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Seoul Metropolitan Government targets 40,000 Moa Town housing starts by 2031

The Seoul Metropolitan Government has announced the ‘Moa Town Rapid Integration Implementation Plan’ to accelerate the development of Moa Housing and Moa Town projects. These small-scale urban regeneration initiatives aim to transform aging, low-rise residential areas into integrated living zones.

The city aims to break ground on 14,000 units by 2028 and 40,000 units by 2031 through enhanced process management. To achieve this, the city will hold monthly ‘Rapid Construction Process Meetings’ and appoint ‘Process Promotion Officers’ to monitor progress and address delays.

For new projects, the city is introducing ‘Moa Integrated Planning,’ which allows for the simultaneous pursuit of management plans and union establishment. This collaborative approach involving residents, the city, district offices, planners, and the Seoul Housing & Communities Corporation (SH) is intended to reduce the time to groundbreaking from approximately six years to 4.5 years. Additionally, the city plans to select 100 new candidate sites by 2030 to establish a housing supply foundation for an additional 120,000 units.

Entities

Myung No-jun · Seoul Housing & Communities Corporation · Seoul Metropolitan Government