SH Corporation "Wirye Forest Shine Complex 15 Sale Cost 13.69 Million KRW per Pyeong"
Construction cost per 3.3㎡: 5.79 million KRW, building cost: 7.9 million KRW
SH Corporation "Seoul 25-pyeong apartment construction cost in the 200 million KRW range"
Kim Heon-dong, President of Seoul Housing and Communities Corporation (SH Corporation). / Photo by Yoon Dong-ju doso7@
View original imageSeoul Housing and Communities Corporation (SH Corporation) disclosed on the 26th that the sale cost of Wirye Fore Shine Complex 15 (A1-12BL) in Wirye New Town is 13,696,000 KRW per 3.3㎡ (pyeong). The profit margin was reported to be 30%.
According to SH Corporation on the 26th, the land price per 3.3㎡ for A1-12BL in Wirye New Town was 5,795,000 KRW, and the construction cost was 7,901,000 KRW. The combined sale cost was 13,676,000 KRW, and the sale price was calculated at 19,804,000 KRW.
The total overall sale cost amounted to 161,448,593,000 KRW, and the sale price was 233,410,612,000 KRW. The sales profit was 71,962,019,000 KRW, resulting in a profit margin of 30.8%.
Wirye New Town is a large-scale project jointly undertaken with LH Corporation. SH Corporation holds a 25% stake, and the actual profit based on this share is estimated to be approximately 17,990,505,000 KRW.
SH Corporation organizes and discloses the cost details of Wirye New Town A1-12BL into 71 items on its website, along with the completion report. The land development cost is divided into 10 items including land price, development cost, and relocation measures cost, while the construction cost is disclosed in 61 items based on the contract details, including construction work costs and indirect expenses.
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Wirye New Town A1-12BL is a complex of 394 households located at the boundary of Seoul, Seongnam, and Hanam cities. President Kim stated, "The construction cost per ㎡ is 2,391,000 KRW (8,000,000 KRW per pyeong), and the construction cost for a 25-pyeong (exclusive 59㎡) apartment in Seoul was analyzed to be in the 200 million KRW range," adding, "SH Corporation plans to consistently supply buildings priced in the 300 million KRW range."
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