SH Gongsa-Owned Public Housing Market Value 56 Trillion Won... Acquisition Cost About 2.5 Times Higher

Additional Disclosure of Land and Commercial Building Book Values
2.7071 Trillion KRW and 295.8 Billion KRW Respectively

The estimated market value of 133,697 public rental housing units owned by Seoul Housing and Communities Corporation (SH Corporation) was revealed to be 56 trillion won, approximately 2.5 times the acquisition cost.

On the 28th, SH Corporation disclosed the asset details of the public rental housing it owns. The acquisition cost of a total of 133,697 public housing units was 23.2755 trillion won, and the estimated market value was 55.966 trillion won. The book value and publicly announced price were 19.5053 trillion won and 38.6165 trillion won, respectively.

By type, construction rental housing accounted for 105,107 units with an acquisition cost of 16.5211 trillion won, an estimated market value of 48.9313 trillion won, a book value of 13.2126 trillion won, and a publicly announced price of 33.7626 trillion won. The remaining 28,590 units were purchased rental housing with an acquisition cost of 6.7544 trillion won, an estimated market value of 7.0347 trillion won, a book value of 6.2927 trillion won, and a publicly announced price of 4.8539 trillion won.

SH Corporation also disclosed details of land and commercial properties on the same day. The land consists of 60 plots across 34 complexes in 20 districts, with a book value of 2.7071 trillion won, and the sale/rental commercial properties include 3,472 units in 7 complexes, valued at 295.8 billion won. Additionally, assets such as public rental housing and land under construction amounted to approximately 985 billion won across 57 complexes.

Kim Heon-dong, President of SH Corporation, stated, “We will continue to disclose public data so that Seoul citizens can easily verify SH Corporation’s asset details.”

Since March 2022, SH Corporation has been disclosing its assets including housing, buildings, and land. It is the first among domestic public enterprises to do so. Initially, about 28,000 long-term lease housing units were disclosed, followed by approximately 102,000 apartments in the second phase, about 22,000 purchased rental housing units in the third phase, and asset details of 131,160 housing units and buildings owned by the corporation in the fourth phase.

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