Urijasan Trust's 'Dominance' in the Sales Market

6 Cases This Year... Aggressive Moves
Expansion into Areas Including Maintenance Project Contracts

[Asia Economy Reporter Choi Dong-hyun] Real estate trust companies are standing out in the new apartment and officetel sales market from the beginning of the year. In particular, Woori Asset Trust, acquired by Woori Financial Group last year, has attracted attention by taking an aggressive approach, launching six sales projects in the first quarter alone.

According to the Korea Real Estate Board's subscription system 'Subscription Home' on the 9th, among the 50 private apartments nationwide that announced resident recruitment notices up to this day this year, 9 projects (18%) involved trust companies as developers. Among these, Woori Asset Trust and Daehan Land Trust each handled two sales projects. During the same period, trust companies managed 6 out of 10 officetel complexes sold, with Woori Asset Trust leading with 4 projects. Woori Asset Trust is handling the largest volume of apartment and officetel sales among trust companies since the beginning of this year.

Woori Asset Trust launched its first project of the year last month with 'Ssangyong The Platinum Haeundae' in Jung-dong, Haeundae-gu, Busan. This complex, consisting of 152 apartment units and 19 officetel rooms, recorded a competition rate of 226.4 to 1 in the first-priority apartment subscription. Another project supplied in the same month, 'Hanyang Sujain The STG' in Yongdang-dong, Suncheon-si, Jeollanam-do, was completely sold out with 20,861 applicants for 940 units during the first-priority subscription.

For officetels, Woori Asset Trust consecutively sold 'Parkrium' in Deokjin-dong, Deokjin-gu, Jeonju-si, Jeollabuk-do; 'Zoom City' in Wonheung-dong, Deogyang-gu, Goyang-si, Gyeonggi-do; 'Belive Centro' in Yongho-dong, Nam-gu, Busan; and 'Wave Rich' in Cheongna International City, Incheon. Among these, 'Belive Centro' recorded an average competition rate of 38.16 to 1 with 14,960 applicants for 392 units in the first-priority subscription on the 30th of last month.

Woori Asset Trust, incorporated into Woori Financial Group after Woori Financial Holdings acquired International Asset Trust through a merger and acquisition (M&A) at the end of last year, is analyzed by the industry to be pursuing an active order acquisition strategy recently. In particular, it has expanded its business scope by entering the redevelopment project market. On the 25th of last month, the company signed a trust contract with the Daehung Apartment Small-scale Reconstruction Maintenance Project Association in Guro-dong, Guro-gu, Seoul, and obtained the business agent notification. Lee Chang-jae, CEO of Woori Asset Trust, said, "With stable company credit and a business portfolio diversification strategy, we will actively discover small-scale maintenance projects in urban areas and play a leading role in the government's urban regeneration projects."

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