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Xi S&D Secures KRW141.1 Billion Contract for Busan Development; Shares Rise 6%

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Xi S&D (KRX:317400) secured a contract worth 141.1 billion won to build an apartment complex and neighborhood commercial facilities in Busan, according to a Tuesday filing with the Korea Exchange.

The project comprises the construction of six basement levels and 45 above-ground floors on a site located at Busan's 1394-335 Jung-dong, Haeundae-gu, the filing said.

The construction is expected to take 48 months.

Shares of Xi S&D, which engages in construction, housing development, and home solution businesses, rose nearly 6% in recent trade.

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