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Posted by sylviejo Saturday, August 10, 2024 9,178

Value of G-Dragon's Cheongdam building 'March Rabbit' said to have increased by more than 8 billion KRW (6 million USD)

AKP STAFF

It has been reported that the value of G-Dragon's building in Cheongdam-dong has increased by more than 8 billion KRW (approximately 6 million USD) over the past seven years.

On August 10 KST, Korean media outlet News1 cited real estate industry estimates, reporting that the building – named 'March Rabbit' – has likely seen this substantial increase in value since G-Dragon purchased it in 2017. This estimate is based on nearby buildings being sold for 18 million to 25 million KRW per square meter during the same period.

Completed in 2014, March Rabbit is a building with six above-ground floors and one basement level, covering a land area of approximately 317 square meters (around 3,412 square feet). It was designed by L’EAU Design Urban Environment Architecture Lab and received an architecture award from the Gangnam District Office. The building was also featured in international media as one of the world's most beautiful buildings.

Just a five-minute walk from the plush Cheongdam Station area, the building is nearby numerous entertainment companies, resulting in high foot traffic and demand from tourists. When the Wirye-Sinsa Line opens in Cheongdam, the building is expected to be just a three-minute walk from that station as well, making it a prime location.

G-Dragon purchased the building in November 2017 under his real name, Kwon Ji Yong, for a total of 8.85 billion KRW. The price per 3.3 square meters (based on land) was 79.52 million KRW. The purchase was made with a loan of 3 billion KRW and 5.85 billion KRW in cash.

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

Meanwhile, G-Dragon was appointed as the honorary chairman of the 'JusPeace Foundation' on August 5. The foundation's goals include the public use of copyrights, supporting creative artistic talent, aiding creators engaged in public activities, promoting mental health through art therapy, and providing musical therapy for youth struggling with drug addiction.

  1. G-Dragon
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