'Gaepo Jaiseuquare' Public Auction on March 28 with Competitive Reserve Price

‘Gaepo Xi Square,’ a commercial facility within the Gaepo Xi Presidents complex in Gangnam, is scheduled for a public auction on March 28. Since it will be offered at a price lower than the sale price two years ago, it is attracting significant attention from investors and end-users alike, with expectations of capital gains.

The estimated bid price is set at approximately 110 million KRW per pyeong (exclusive area) for the first floor above ground and about 47 million KRW per pyeong for the first basement level, with a highest bid public auction planned for March 28. This price is expected to be more than 40% more competitive than the commercial space within the Banpo S complex, which is scheduled for supply in April.

Recently, the popularity of commercial facilities within residential complexes has been increasing. Although many regulations have been eased, the real estate market remains sluggish, making it crucial to distinguish valuable assets. Commercial facilities within complexes have proven their location and product competitiveness through successful previous sales, offering stable income and rapid commercial area activation as major advantages.

Moreover, commercial facilities within large complexes can secure a fixed customer base not only from residents but also from nearby demand, providing a certain level of monopoly effect. In addition, with specialized designs optimized for commercial area activation and brand power, these facilities are now establishing themselves as landmarks leading the surrounding areas.

Amid this, ‘Gaepo Xi Square’ in Gangnam, which is set for a public auction on March 28, is a large-scale mixed-use commercial complex consisting of 102 units across three basement levels and four above-ground floors. The first basement level includes an MD plan that allows for a large supermarket, and spaces for hospitals, academies, franchises, and branded F&B outlets have already been leased. It serves not only 3,375 resident households but also a nearby demand base of 20,000 households, making it a space accessible 365 days a year and raising expectations as a landmark leading the local commercial district.

In addition to a spacious feel with ceiling heights up to 3 meters, it boasts an exclusive parking lot with 127 spaces, offering rare parking convenience in Gangnam. Beyond the large parking lot, the environment will be enhanced with features such as a courtyard within the commercial area and terrace-style shops, creating an attractive space where various shopping cultures can be experienced.

A sales representative stated, “With its prime location in Gangnam, attractive sale price, unique commercial space rarely found in Gangnam, and the brand power of GS Construction, this is an investment destination that combines rarity and investment value. ‘Gaepo Xi Square’ is a product with even greater potential going forward.”