GS Construction to Launch 'Gwangyang Central Xi' in Jeonnam in May... Jeonnam's First Xi Apartment

Gwangyang Central Xi Perspective View

[Asia Economy Reporter Choi Dong-hyun] GS Construction is introducing the Xi apartment for the first time in the Jeonnam region.

GS Construction announced on the 16th that it plans to launch sales of ‘Gwangyang Central Xi,’ located in L-2 Block of Seonghwangdoeji District, Gwangyang City, Jeonnam, in May.

Gwangyang Central Xi consists of 704 households across 9 buildings, ranging from 74 to 84㎡ (exclusive area), with 2 basement floors and 22 floors above ground. The units are composed of ▲74A㎡ 62 households ▲74B㎡ 66 households ▲84A㎡ 232 households ▲84B㎡ 150 households ▲84C㎡ 130 households ▲84D㎡ 64 households, with units sized 84㎡ accounting for more than 80%, which are highly preferred by buyers.

Near the complex is National Road No. 2, connecting Sinan-gun in Jeonnam and Jung-gu in Busan, making travel to the South Coast region convenient. Access to Donggwangyang IC is easy, allowing quick travel via Namhae Expressway and Honam Expressway. Additionally, the completed Sepung Bridge since March last year enables convenient travel to Suncheon City. Once the Jidong Tunnel (tentative name), connecting Seonghwangdoeji District and downtown Gwangyang, opens this year, access to Gwangyang’s central commercial district is expected to become even more convenient.

The complex is adjacent to Jungmadong, the center of Gwangyang City, allowing residents to share the existing living infrastructure of Jungmadong. Public offices such as Gwangyang City Hall main office, Gwangju District Court Gwangyang Branch, and Gwangyang Fire Station, as well as commercial facilities like Homeplus (Gwangyang branch), Nonghyup Hanaro Mart (Jungdong branch), and Jungma Market, are located near City Hall. Seonghwang Elementary School and a planned middle school are nearby, enabling walking commutes, and various educational facilities such as Gwangyang Gifted Education Center, Gwangyang City Jungma Library, and Gwangyang Youth Culture Center are concentrated in the area.

Seonghwang Neighborhood Park is scheduled to be established in Seonghwangdoeji District in 2021. Gwangyang City is promoting projects to develop Gwangyang Gubongsan Tourist Complex and a family-oriented children’s theme park (tentative name) near Seonghwangdoeji District, which is expected to provide access to various cultural facilities. In particular, Gwangyang Central Xi is a complex with excellent proximity to workplaces, offering convenient access not only to Gwangyang but also to eastern regional business complexes such as POSCO Gwangyang Steelworks, Gwangyang Seonghwang General Industrial Complex, Yulchon 1st General Industrial Complex, and Sepung General Industrial Complex, as well as Suncheon and Yeosu. GS Construction expects it to attract significant interest from buyers commuting to these areas.

The eastern Jeonnam region, including Gwangyang, Suncheon, and Yeosu, is an area with scarce supply of branded apartments, leading to high preference for branded apartments. In fact, ‘Gwangyang Prugio The First,’ launched in Seonghwangdoeji District, Gwangyang City in August last year, recorded a highest competition rate of 23.47 to 1. Gwangyang City, where Gwangyang Central Xi will be located, is a non-regulated area, so subscription requirements are lenient. Buyers aged 19 or older residing in Gwangyang, Jeonnam, or Gwangju with a subscription savings account for at least 6 months can apply for first-priority subscription. Homeowners and household members can also apply, and there are no restrictions on re-winning. There is no resale restriction period for the sale rights, so resale is possible immediately after contract.

A sales official for Gwangyang Central Xi said, "As the first Xi apartment supplied in Jeonnam, Gwangyang Central Xi has symbolic value and rarity,” adding, “We expect strong interest from buyers and will prepare to offer excellent products.”

The model house is scheduled to open in May at 88 Jungma Jungang-ro (between Jungma Market and Jungma Bus Terminal). The promotional center is located on the 1st floor of e-Pyeonhansesang Gwangyang commercial facility at 62 Sicheong-ro, Gwangyang City (Jungdong 1309-1), and advance visit consultations are available.

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