Proving Premium Brand Power... Hanwha Forena Geoje Jangpyeong Sold Out

Forena Geoje Jangpyeong Bird's-eye View

[Asia Economy Reporter Onyu Lim] Hanwha Construction announced on the 14th that the reconstruction complex "Forena Geoje Jangpyeong," located at 337 Jangpyeong-dong, Geoje-si, Gyeongsangnam-do, which it sold, has been completely sold out. Hanwha Construction evaluated, "Even in Geoje-si, which was known for a long-term slump in the real estate market, the brand power of Hanwha Forena was proven."

Forena Geoje Jangpyeong consists of 9 buildings with 3 basement floors to 25 above-ground floors, totaling 817 households, with 359 units available for general sale, and move-in is scheduled for February 2021.

This complex was first sold in October 2018, but due to the slump in the Geoje real estate market caused by the shipbuilding industry downturn, many units remained unsold. However, recently, the complex name was changed to Hanwha Construction's new premium residential brand Forena, and sales conditions were somewhat improved, leading to a rapid increase in contract rates and complete sell-out.

Last year, Hanwha Construction also sold out Forena Cheonan Dujeong in Cheonan, a region with unsold housing management, within three months. This was also due to the launch advertising of the Forena brand and word of mouth as a premium brand, which caused contract rates to rise sharply.

With the complete sell-out of Forena Geoje Jangpyeong this time, Hanwha Construction has increased the number of sold-out complexes to six since the launch of the Forena brand in August last year. In addition, all complexes sold or rebranded under the Forena brand (including those under construction and occupied complexes) have achieved 'zero unsold units.'

Forena has been highly popular since its launch and is regarded as successfully establishing itself in the housing market. A Hanwha Construction official said, "Due to many customer requests for brand changes, we have changed the brand of 10 existing sales complexes totaling 6,674 households to the Forena brand."

Song Heeyong, head of sales at Hanwha Construction, said, "Forena Geoje Jangpyeong is an apartment complex near Samsung Heavy Industries Geoje Shipyard, and it attracted much interest from actual buyers even during the Geoje real estate slump," adding, "After changing the brand to Hanwha Forena, the perception as a premium apartment increased, and as the Geoje real estate market gradually recovered, all contracts were completed in a short period."

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