Business · Companies · 3 hrs ago
Daewoo E&C’s Urban Renewal Contracts Top 5 Trillion Won
Daewoo E&C won construction rights for two projects in Uijeongbu and Seoul, South Korea.
The contracts are worth a combined 715.3 billion won, taking the company’s urban renewal total this year to 5.0673 trillion won.
The Uijeongbu project will build 1,368 homes in the city’s Ganeung-dong area.
The Seoul project will add 685 homes in Seongsan-dong, in the Mapo district.
Daewoo E&C now holds construction rights for three of the four sections in Seoul’s Seongsan Moa Town project and plans to build more than 2,000 homes there under its Prugio brand.
The company is pursuing more redevelopment contracts, including projects in Seoul and near Geumjeong Station.
If it wins those contracts, it says it could set a record for its urban renewal business.
Daewoo Engineering & Construction’s cumulative urban renewal contract wins this year rose above 5 trillion won, reaching 5.0673 trillion won.
The company was selected for two projects, in Uijeongbu and Seoul, with combined construction costs of 715.3 billion won.
The Uijeongbu redevelopment project will build 1,368 apartments across 10 buildings.
The Seongsan Moa Town 4 project in Seoul will build 685 apartments across seven buildings.
Daewoo E&C holds construction rights for Seongsan Moa Town’s sections 1, 3 and 4, which it plans to develop into a complex of more than 2,000 apartments.
- Who
- Daewoo Engineering & Construction.
- What
- It secured construction rights for two urban renewal projects, taking its cumulative wins this year to 5.0673 trillion won.
- When
- The company was selected on October 31 and announced the selections on November 3.
- Where
- Ganeung-dong in Uijeongbu and Seongsan-dong in Seoul, South Korea.
- Why
- Not stated.
This story does not have two clearly opposing sides.
Daewoo E&C was selected as contractor for the Uijeongbu Ganeung Section 4 redevelopment and Seoul Seongsan Moa Town Section 4.
The company announced the selections and reported cumulative urban renewal contract wins of 5.0673 trillion won this year.
- Cumulative contract wins
- 5.0673 trillion won
- Combined construction costs
- 715.3 billion won
- Uijeongbu project
- 1,368 apartments; construction cost of 464.7 billion won
- Seongsan Moa Town Section 4
- 685 apartments; construction cost of 250.6 billion won
- Seongsan Moa Town sections secured
- Sections 1, 3 and 4; more than 2,000 apartments planned