G-Dragon and Sooyu's Cheongdam-dong Building Doubled in Value to 8 Billion Won Over 7 Years

In 2017, Cheongdam's 'Machi Rabbit' Purchased for 8.8 Billion KRW
Real Estate Industry Expects Profit Exceeding 8 Billion KRW

Singer G-Dragon's Cheongdam-dong building is reported to have increased in value by more than 8 billion KRW over seven years.

On the 10th, News1 cited real estate industry estimates, reporting that the building "March Rabbit," which G-Dragon purchased in 2017, likely earned such a profit. This was based on nearby buildings being traded at prices ranging from 180 million KRW to 250 million KRW per pyeong during the same period.

Singer G-Dragon. [Source=SNS]

Completed in 2014, March Rabbit is a building with one basement floor and six above-ground floors, with a land area of approximately 317㎡ (about 96 pyeong). It was designed by L’EAU Design Urban Environment Architecture Institute and received an architectural award from Gangnam District Office. It was also featured in overseas media as one of the "World's Beautiful Buildings."

Located a five-minute walk from Exit 9 of Cheongdam Station, this building is known for its high foot traffic and tourist demand due to the many entertainment companies nearby. When the Wirye-Sinsa Line opens at Cheongdam Intersection in the future, it is expected to become a prime location within a three-minute walk from the station.

G-Dragon purchased the building in November 2017 under his real name, Kwon Ji-yong. The total purchase price was 8.85 billion KRW, with a price per 3.3㎡ (land basis) of 79.52 million KRW. The loan principal was 3 billion KRW, meaning he paid 5.85 billion KRW in cash.

Cheongdam Mach Rabbit owned by G-Dragon
[Image source: Screenshot from L’EAU Design official website]

In addition, G-Dragon also purchased a luxury residential-commercial complex apartment, Galleria Foret, in Seongdong-gu, Seoul, for 3.03 billion KRW in 2013. In 2021 and 2022, he acquired the Nine One Hannam penthouse and the 13th floor of Warner Cheongdam, respectively.

Meanwhile, on the 5th, G-Dragon was appointed honorary chairman of the JusPeace Foundation. This foundation plans to carry out activities such as ▲public interest use of copyrights ▲support for creative artistic talents ▲support for creators practicing public interest activities ▲art therapy and mental health through art ▲musical therapy support for youth drug addicts.