SH Announces Final Cost of Sale Complex in Godeok Gangil District... 8·14 Complex Unveiled

Goduk Gangil Complex 8 Unit Construction Cost 148.9 Billion KRW, 14 Unit 122.7 Billion KRW
SH Corporation Reveals Construction and Sale Costs of Complexes, Disclosure Completed with This Release
Plans to Disclose Post-Completion Costs According to Future Housing Construction Plans

[Asia Economy Reporter Hwang Seoyul] Seoul Housing and Communities Corporation (SH Corporation) has disclosed the sales cost of the Godeok Gangil Public Housing District 8 and 14 complexes. This disclosure completes the announcement of the self-developed sales costs within the Godeok Gangil district.

SH Corporation recently completed the final settlement for the Godeok Gangil district 8 and 14 complexes and revealed the sales cost on the 9th. The 8 and 14 complexes in Godeok Gangil district were sold in June 2020, with 526 households and 411 households respectively.

Among the complexes disclosed this time, the Godeok Gangil district 8 complex is adjacent to the 4 complex, sharing similar living conditions, complex characteristics, and building scale. The 14 complex is located on the southern side of the district’s 3rd section and is characterized by superior metropolitan transportation accessibility via Hwangsan Intersection. However, due to a low floor area ratio and a high number of small rental housing units, relatively more cost-increasing factors occurred in the cost structure.

Similar to the Godeok Gangil district 4 complex disclosed on December 15 last year, SH Corporation organized and disclosed the data into 71 items and also released the completion statement. The 71 items are divided into 10 land development cost items such as land cost, development cost, and relocation measures cost, and 61 construction cost items including construction work costs and indirect costs based on the contract details.

Land Development Cost and Construction Cost by Complex in Godeok Gangil District / Data=SH Corporation

The land development cost for the 8 complex is 57.27 billion KRW, and the construction cost is 91.778 billion KRW, making the total sales cost 148.985 billion KRW. The sales price is 225.563 billion KRW, resulting in a sales profit of 76.578 billion KRW, which is the difference between the sales price and the sales cost.

The sales cost for the 14 complex is 47.096 billion KRW for land development and 75.657 billion KRW for construction, totaling 122.753 billion KRW. The sales price is 185.17 billion KRW, with a sales profit of 62.417 billion KRW.

The design and contract details for each complex are equally disclosed on the SH Corporation website, and the usage details of the sales profits are also made public.

This announcement completes the disclosure of costs for complexes constructed and sold by SH Corporation within the Godeok Gangil Public Housing District. The corporation plans to disclose costs after completion if additional projects are added according to future housing construction plans.

President Kim Heondong stated, "During my one year in office, we have consistently disclosed sales costs to expand the public’s right to know and practice transparent management for ten million citizens. This disclosure consists of 71 items, providing more detailed information than before. We will continue to strive for housing price stabilization and improvement of citizens’ residential welfare through various policies."