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GS E&C’s apartment brand Xi soars to top in popularity

Gran Seoul Tower (GS E&C)
Gran Seoul Tower (GS E&C)
Major South Korean builder GS Engineering & Construction’s Xi has become the most preferred apartment brand among potential homebuyers prioritized by the government’s housing scheme this year, as of late September.

GS E&C, which analyzed data from the Korea Appraisal Board, said Xi was the choice for over 350,000 out of 2.9 million “first-served” potential homebuyers who hold a housing subscription savings account and meet the requirements for a priority treatment when being selected by a draw.

Accounting for 16.8 percent of all top-tier potential homebuyers, Xi soared in popularity this year.

When applications were opened for the brand’s new 232-household apartment in the neighborhood of Gaepo-dong in Gangnam earlier this year, over 15,000 potential homebuyers applied, further proving the competitiveness of the market, the firm said.

“The recent performance shows that Xi is being seen as a high-end apartment brand and goes to show that Xi has an advantage in brand competitiveness,” one official at the company said.

By Yim Hyun-su (hyunsu@heraldcorp.com)
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