Sangji Kyleum, Premium Officetel KyleumM Sales Closing Soon... "Driving Performance Growth"
[Asia Economy Reporter Jang Hyowon] Sangji Kyleum, a luxury housing specialist construction company (CEO Kim Youngshin), announced on the 23rd that the sales closing of ‘Sangji Kyleum M,’ a luxury residential officetel located in Nonhyeon-dong, Gangnam-gu, is imminent.
Developed by Kyleum D&D and constructed by Sangji Kyleum, this officetel consists of 88 units across 3 basement floors and 17 above-ground floors. Upon completion of sales, the total sales revenue will amount to 186.8 billion KRW.
The company cited the growing demand for small luxury residential facilities as a key factor for the sales success. A company representative stated, “Due to the recent increase in single-person households, revenge consumption following COVID-19, and the improved economic power of the millennial generation, small luxury residential facilities like Kyleum M are gaining popularity. We will do our best to enhance the completeness of Kyleum M with the construction know-how we have accumulated in luxury residential facilities.”
Sangji Kyleum plans to lay the foundation for performance improvement through business synergy with its largest shareholder, Joongang D&M. A company representative said, “We plan to actively utilize the real estate-related business portfolio held by Joongang D&M. With the 16 billion KRW capital secured through a recent capital increase and the revenue from this officetel sale, we will not only improve our financial structure but also smoothly promote new businesses to achieve performance growth.”
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Kim Youngshin, CEO of Sangji Kyleum, said, “Successfully completing the sales of small officetels, a new area, demonstrates the capabilities of our luxury residential construction brand and will also drive the company’s performance growth. Based on our stable existing business, we will accelerate the promotion of new businesses such as waste disposal.”
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