Names Chosen for Enhancing Quality of Life
13 Construction Companies Selected... Hillstate Wins Grand Prize for 3 Consecutive Years
The trend of combining construction company names with local areas to create apartment names, which later evolved into brands, began in the 2000s. This coincides with the period when apartments became the mainstream housing type.
Since then, brand has become an important factor for consumers when purchasing apartments. Even with the same location and conditions, the market value differs depending on the brand. Apartments with a strong demand base and high brand recognition are valued more highly.
According to a past survey conducted by a market research firm targeting real estate agents, more than 9 out of 10 respondents answered that brand value influences apartment price increases. In redevelopment and reconstruction projects, sales prices vary by brand, making brand a key factor in determining project profitability.
Among homebuyers, there is also a strong perception that branded apartments are superior in terms of interior quality, construction capability, and defect repair. The more well-known the brand, the more people tend to believe they can live more comfortably or safely.
The current trend of prioritizing quality of life, such as wellness, also contributes to the growing preference for branded apartments. Many branded apartments enhance residential satisfaction by offering specialized communal facilities or by incorporating premium materials and cutting-edge technologies such as Internet of Things (IoT) and artificial intelligence (AI) into smart home systems. Apartment brands are also regarded as indicators of the resident's social status.
Reflecting these trends, Asia Economy selected 13 construction companies as winners of the "19th Apartment Brand Awards." The selection focused on companies with apartment brands that are expected to lead residential culture in South Korea. The grand prize went to Hyundai Engineering & Construction, recognized as a "prestigious construction company." Hyundai Engineering & Construction has won the grand prize for three consecutive years with its "Hillstate" brand. In the Power Brand category, GS Engineering & Construction (Xi), Daewoo Engineering & Construction (Prugio), POSCO E&C (The Sharp), SK ecoplant (Define), Doosan Engineering & Construction (Doosan We've the Zenith), and HJ Shipbuilding & Construction (Haemoro) were awarded.
In the Customer Satisfaction category, DL E&C (ePyeonhansesang), Lotte Engineering & Construction (Lotte Castle), HDC Hyundai Development Company (IPARK), and BS Hanyang (Sujain) received awards. In the Social Contribution category, Hoban Construction was recognized, while Hanwha Construction Division's Fore Na was selected in the High-End Design category.
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