Hyundai Construction "Additional Orders from Qatar, etc... January Orders Amount to 1.5 Trillion Won"

[Asia Economy Reporter Kim Yuri] Hyundai Engineering & Construction announced on the 14th that its order amount in January alone reached 1.5 trillion KRW due to consecutive wins in the Middle East and Southeast Asia regions early this year.

Hyundai Engineering & Construction stated that it received the Letter of Award (LOA) for the Lusail Plaza Tower PLOT3 project, worth a total of 609.3 billion KRW, commissioned by a real estate development company in Qatar. This follows the Lusail Plaza Tower PLOT4 project (totaling 613 billion KRW), which marked the first overseas order of the new year on the 2nd. The combined amount of the two projects is approximately 1.2 trillion KRW (about 1.06 billion USD), making it a mega construction project.

The Lusail Plaza Tower PLOT3 project in Qatar, which Hyundai Engineering & Construction won independently following PLOT4, involves constructing an office building and surrounding ancillary facilities in the financial district of Lusail City, Qatar, with 5 basement floors and 70 floors above ground. Here, PLOT refers to a section, encompassing not only the office building but also the nearby area where ancillary facilities are located. The Lusail Plaza Tower project consists of a total of four PLOTs, and Hyundai Engineering & Construction secured the PLOT3 and PLOT4 projects. The construction period for PLOT3 is the same as PLOT4, with a target completion date 34 months after groundbreaking, expected by the end of 2022.

The Lusail area will host the final match of the 2022 Qatar World Cup. Hyundai Engineering & Construction is currently building a highway in this region. A Hyundai Engineering & Construction official said, "With this large-scale building order following the highway construction, our status in the local market is rising."

Earlier, on the 7th, Hyundai Engineering & Construction received the Letter of Award (LOA) for the Punggol Sports Centre project, worth 270 billion KRW (about 230 million USD), commissioned by the Singapore Sports Council. The Punggol Sports Centre project in Singapore was jointly won with a local Singaporean company. Hyundai Engineering & Construction's share is 190 billion KRW (about 160 million USD).

This project involves constructing a sports center and outdoor stadium with 1 basement floor and 6 floors above ground in the Punggol area located on the northeast coast. The site area is 48,180 square meters, and the total floor area is 123,617 square meters. It is a comprehensive sports facility for the welfare of Punggol residents, with a construction period of 36 months after groundbreaking and scheduled completion in January 2023.

A Hyundai Engineering & Construction official said, "Despite fierce competition with advanced domestic and overseas companies, our efforts to improve overseas business capabilities and expand order networks have borne fruit through consecutive wins." He added, "Following last year, we will continue to prioritize the added value of all stakeholders and fulfill our role as a global top-tier leader in the domestic construction industry this year as well."

This content was produced with the assistance of AI translation services.