Sangmu Central Xi, Highest Competition Rate of 43.81 to 1 for First Priority

- 7,893 Applicants for 704 Households... Average 11 to 1
- Capturing Homebuyers' Interest... Winners Announced on the 14th

GS Construction's 'Sangmu Central Xi,' being built in Ssangchon-dong, Seo-gu, Gwangju Metropolitan City (former Honam University Ssangchon Campus site), proved its value by achieving excellent results in the first-priority subscription. According to the Korea Real Estate Agency's subscription homepage on the 7th, Sangmu Central Xi recorded an average first-priority competition rate of 11.21 to 1, with 7,893 applicants competing for 704 households (excluding 199 special supply units).

The highest first-priority competition rate was for the 84㎡A type, with 4,381 applicants competing for 100 units, resulting in a 43.81 to 1 ratio. Other types showed competition rates of 10.17 to 1 for 84㎡B, 10.26 to 1 for 84㎡C, and 21.2 to 1 for 84㎡D. The rare terrace type, 247㎡T, also closed at first priority with a competition rate of 6 to 1.

The industry analyzes that the premium location in the Sangmu district, equipped with all infrastructure even in Gwangju, and the high-end residential product design, which had not been seen in Gwangju before, received high acclaim. The complex significantly enhanced residential value by applying Gwangju's first premium residents-only movie theater (CGV Salon), sky lounge (Club Cloud), and Kyobo Bookstore curation services enjoyed at the small library.

In particular, Sangmu Central Xi captivated demand by providing German premium kitchen furniture as a standard in all units for the first time in Gwangju. The luxury kitchen furniture brands with global recognition and high reputation, such as 'Sie Matic,' established in 1928, premium kitchen furniture 'LEIGHT,' and 'nobilia,' which holds the number one market share in the European kitchen furniture market, are applied according to each type. Appliances from the German global home appliance brand 'Miele' and the Italian luxury hood 'Falmec' will also be installed.

A sales official of Sangmu Central Xi said, "There was a lot of interest even before the sale due to the symbolism of being the first high-end apartment introduced in the Sangmu district of Gwangju and the location value with complete living infrastructure. It seems that applicants flocked as the interior and finishing materials preferred by female buyers and premium community facilities liked by all ages were revealed." He added, "Competition was fierce among newlyweds and first-time buyers in the special supply, and since the subscription competition rate was good, we are also positive about the contract rate."

Meanwhile, Sangmu Central Xi will be developed on a scale of 903 households with 14 buildings ranging from three basement floors to a maximum of 30 floors above ground, with exclusive areas ranging from 84 to 247㎡. It is convenient to move throughout Gwangju city via Sangmu-daero in front of the complex, and it is easy to use Uncheon Station on Gwangju Subway Line 1. Additionally, Gwangju Songjeong Station, Gwangju Airport, and the comprehensive bus terminal are nearby, and shopping facilities such as Lotte Mart Max, Shinsegae Department Store, and E-Mart are close. Furthermore, school facilities such as Seogwang Elementary, Sangil Middle, Sangil Girls' High, and Sangmu High are densely located nearby. The representative parks of Gwangju, the May 18th Memorial Park and Uncheon Lake Park, are within walking distance.

The announcement of winners will be on Wednesday, June 14, and the official contract period will be held for three days from Monday, June 26 to Wednesday, June 28. A housing exhibition hall is in operation, and move-in is scheduled for April 2025.