Daewoo Engineering & Construction has solidified its market leadership in South Korea’s urban renewal sector, announcing that its cumulative orders for such projects have exceeded 2 trillion won ($1.3 billion) this year.
This significant milestone was reached after the company was selected as a contractor for two major projects last weekend, bringing its total to five urban renewal initiatives — the highest achievement within the industry for the year to date.
Among the newly secured ventures is the strategically important Giheung Zone 1 redevelopment project in Yongin, Gyeonggi Province. This extensive project involves the rebuilding of the Hansung 1st Apartment complex into a modern residential hub, featuring seven buildings towering up to 39 stories and offering 783 premium units. The total construction cost for this transformative project is estimated at 255.3 billion won.
The Giheung site boasts an exceptional location with close proximity to major global semiconductor clusters, including facilities from industry giants like Samsung Electronics and SK hynix. Its value is further set to appreciate with the planned GTX-F line. Capitalizing on its robust track record of delivering 13,845 units across 20 complexes in Yongin, Daewoo E&C will brand this ambitious development as “Giheung Station Prugio Masterpiece,” reflecting its vision for a landmark residential complex.
In addition to its successes in Gyeonggi Province, Daewoo E&C has also expanded its urban renewal footprint in Seoul by securing a project in Seongsan Moa Town District 3. This follows an earlier win in District 1, reinforcing the company’s strong presence in the capital. The prime Seoul location offers excellent connectivity, situated near Mapo-gu Office Station on Seoul Subway Line No. 6 and Gajwa Station on the Gyeongui-Jungang line. Future residents will also benefit from planned infrastructure developments such as the Lotte Mall Sangam and the proposed Daejang-Hongdae subway line, enhancing convenience and lifestyle.
For this crucial Seoul project, Daewoo E&C has unveiled plans for “Mapo Prugio Tres Royal.” This prestigious development will comprise a 480-unit complex spread across six elegant buildings, reaching up to 29 stories, with an estimated construction cost of 189.3 billion won.
A company official emphasized Daewoo E&C’s commitment: “We are dedicated to setting new benchmarks in urban renewal. By leveraging our comprehensive expertise in both meticulous planning and superior construction, we aim to deliver landmark residential complexes that offer strong commercial value and unparalleled quality for urban residents.”
stlee0329
