Xai S&D Wins Residential Project in Sangju City… 239.8 Billion Won Scale

[Financial News] Xai S&D has signed the largest contract since its founding, raising expectations that it can achieve this year's order target early.
Xai S&D announced on the 17th that it had signed a construction contract with Goeun Construction to build an apartment complex with 773 households in Sangju, Gyeongbuk.
This project, with a contract amount of 239.8 billion won, is the largest project Xai S&D has ever secured since its founding. This accounts for about 10.1% of the 2024 sales (2.3742 trillion won).
Xai S&D has succeeded in consecutively securing large-scale projects following the Garojungbi Housing Project in Yongin Special City, Gimryangjang-dong (103.9 billion won) and the Euljiro 3-1,2 District Business Facility (204.9 billion won) this year.
The project site is located at 840 Yunjik-ri, Hamchang-eup, Sangju-si, Gyeongsangbuk-do, and will be developed with a total of 6 buildings, ranging from 2 basement floors to 29 above-ground floors. The construction is scheduled to start in March 2026 and be completed in March 2029, with a total construction period of 36 months.
This project is expected to meet the residential demand centered on real demand in a situation where the supply of new apartments is insufficient in the large-scale development located in the joint living area connecting Sangju and Mungyeong.
Xai S&D plans to simultaneously improve the residential infrastructure in small and medium-sized cities in the provinces and expand brand value through this project.
The complex will mainly consist of medium to large-sized units and will provide a differentiated residential experience to local residents through various community facilities and pleasant designs.
The project site is particularly located in an area with excellent transportation accessibility and living infrastructure. It is conveniently accessible to key cities in the central region such as Chungju, Cheongju, and Gimcheon through the Jungbu Inland Expressway and the Seosan~Yeongdeok Expressway. Within a 3km radius of the site, the KTX Jeomchon Station is being promoted with the goal of opening in 2032 (preliminary feasibility passed), and access to the Jungbu Inland Expressway is easy through the nearby Jeomchon Hamchang IC. It is about a 5-minute drive to downtown Mungyeong (Jeomchon) and has excellent accessibility to downtown Sangju as it is adjacent to National Route 3.
Nearby, there are 2 elementary schools, 1 middle school, and 2 high schools, and nearby are Homeplus, Mungyeong Jeil Hospital, Jeomchon Terminal, Mungyeong Arts Center, and Mungyeong Citizen's Stadium, allowing for a variety of urban living infrastructure.
Also, despite being one of the top regions in the nation for housing price growth, Sangju and Mungyeong have not had any apartment supply achievements for more than 4 years. Xai S&D expects to alleviate the thirst for new apartment housing among local residents through this project.
An official from Xai S&D said, "This contract is considered a success in discovering lucrative projects by closely examining supply conditions and market trends in the relatively unnoticed provincial housing market compared to Seoul and the metropolitan area, and it is expected to contribute to the revival of the local economy through the activation of the currently stagnant housing market."

going@fnnews.com Choi Ga-yeong Reporter