Bando Construction to Build Apartments in LA, USA... Reenters Overseas Housing Market After 9 Years

Perspective rendering of 'The BORA 3170,' a residential-commercial complex built by Bando Construction in downtown LA, USA.

[Asia Economy Reporter Donghyun Choi] Bando Construction announced on the 30th that it has begun construction of the mixed-use residential project 'The BORA 3170' in downtown Los Angeles, USA. This marks Bando Construction's first entry into the overseas housing market since the 'Dubai Yubora Tower' in 2011.

Bando Construction formed a task force (TF) team about two years ago to conduct market research and feasibility studies for its U.S. housing business. To directly manage the entire project from land acquisition to development, construction, and leasing, the company has meticulously monitored all aspects of the business, including U.S. housing laws and the permitting process from the early design stages. Although the U.S. construction market has high entry barriers for Korean construction companies due to complex permits and administrative procedures, the upcoming 2028 Olympics and other large-scale developments are creating a second construction boom, which is the background for Bando's U.S. market entry.

Most Korean construction companies that have entered the U.S. market so far have acted mainly as developers, conducting simple development projects or selling land and leaving. However, Bando Construction established a local corporation through its affiliates and directly managed everything from land acquisition, permitting, construction, to supply. It is rare for a Korean construction company to handle both development and construction in the highly challenging U.S. housing market. A Bando Construction official stated, "This is not just a financial investment in a simple development project but includes direct design and construction," adding, "This approach reduces overseas business risks and maximizes profits, leading to stable overseas sales."

The complex is located in the heart of LA Koreatown, 10 minutes east to downtown, 15 minutes west to Beverly, and 10 minutes north to Hollywood. It is connected within 5 minutes to Highway 10 (Santa Monica Freeway), and close to Highways 101 (Hollywood Freeway) and 110, providing excellent transportation networks to nearby areas. Surrounded by roads on three sides with no tall buildings nearby, it offers outstanding views of downtown and Wilshire Boulevard. Nearby are a Korean market (Galleria Market, 2 minutes away), Hobart Boulevard Elementary School, and Seoul International Park. Various commercial facilities will be included within the complex. Planned amenities include a courtyard, outdoor swimming pool, barbecue area, fitness center, lounges on each floor, club room, and rooftop lounge, providing diverse relaxation spaces and conveniences. To continue the reputation of the 'Yubora' brand in the U.S., Bando Construction named the project 'The BORA.' The company plans to maintain this brand in future projects to build apartment brand popularity in the U.S. market.

A Bando Construction official said, "'The BORA 3170' mixed-use complex, to be built as a landmark in LA Koreatown, will present a new success model for overseas business in the U.S. following the Dubai Yubora Tower," and added, "We will continue to pioneer overseas business opportunities in the U.S. and Europe by discovering high-quality project sites."

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