GS Construction to Supply 25,000 Apartment Units This Year

Visitors at the Gaepo Prugio Residence Xi model house.

[Asia Economy Reporter Donghyun Choi] GS Construction announced on the 16th that it plans to supply approximately 25,000 units of Xi apartments nationwide, including the Seoul metropolitan area, this year.

GS Construction has been supplying more than 20,000 housing units annually from 2015 to 2018. According to this year's regional supply plan, 6,500 units (25.6%) will be supplied in Seoul, 11,700 units (45.9%) in the metropolitan area, and 7,300 units (28.5%) in other provinces. Unlike last year, when the focus was on the metropolitan area, Xi apartments will be supplied in several provincial locations this year.

By project type, about 11,600 units, or approximately 45.5% of the total, will be supplied through urban renewal projects such as reconstruction and redevelopment, while outsourced projects will account for 10,900 units, or 42.8% of the total. Notably, there is a plan to sell apartments at the site of Block A10 in Songdo 6 District, Incheon, which GS Construction acquired last year, by the end of the year. Among outsourced projects, the Sokcho The Ocean Xi and Goyang Deogeun District Blocks A4, A6, and A7 are noteworthy complexes.

The Sokcho The Ocean Xi, the tallest apartment complex in Dongmyeong-dong 361-1 area, Sokcho City, Gangwon Province, will consist of three buildings ranging from 6 basement floors to a maximum of 43 floors above ground, with a total of 454 units sized between 84 and 131 square meters (exclusive area).

In Goyang City's Deogeun District, Xi apartments totaling 1,600 units will be supplied across three blocks. Block A4 will have 702 units in six buildings ranging from two basement floors to 24 floors above ground, sized between 84 and 99 square meters; Block A7 will have 318 units in five buildings with the same floor range; and Block A6 will have 620 units in seven buildings with the same floor range.

In addition to outsourced projects such as Yeongtong Xi in Yeongtong-gu, Suwon, and Ulsan Seobudong apartment complex, Xi apartments will also be supplied through major urban renewal projects within Seoul, including Heukseok 3 District, Susaek 6 and 7 Districts, and Jangwi 4 District.

A GS Construction official stated, "Despite the challenging market conditions, we plan to supply Xi apartments that meet customers' expectations based on GS Construction's differentiated competitiveness built over time," adding, "We will present Xi's unique products that correspond to the best brand apartments, having ranked first in various brand preference surveys for three consecutive years."

This content was produced with the assistance of AI translation services.