Hanyang Selected as Construction Company for Changwon Gyeonghwa District Redevelopment Project
[Asia Economy Reporter Donghyun Choi] Hanyang announced on the 18th that it has been selected as the construction company for the Gyeonghwa District housing redevelopment project in Changwon-si, Gyeongnam.
This project involves building 1,415 apartment units in the area of 533 Gyeonghwa-dong, Jinhae-gu, Changwon-si. The development will consist mainly of small to medium-sized units under 84㎡ (exclusive area), with buildings ranging from 2 basement floors to 15 above-ground floors, totaling 28 buildings. The plan is to obtain project implementation approval and management disposition approval by 2021, with construction and sales targeted for the second half of 2022.
Hanyang has recently been prominent in the maintenance and redevelopment sector. Last year, it promoted the redevelopment project of Dongbu Cheonggye Market (1,152 units) under the name 'Hanyang Sujain 192' around Cheongnyangni Station, which has rapidly emerged as the largest transportation hub in northeastern Seoul. Currently, it is advancing projects in Bukbyeon 4 District, Gimpo-si (2,800 units) and the Numo-dong maintenance district in Buk-gu, Gwangju (3,100 units). The Songhak Housing reconstruction project (810 units) in Songhyeon-dong, Dalseo-gu, Daegu is scheduled for sales in the second half of the year.
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A Hanyang official stated, "Hanyang is diversifying its housing business portfolio beyond simple contract-based housing construction by leveraging its accumulated construction capabilities and project management experience in maintenance projects and park-special projects." He added, "This year, Hanyang is steadily advancing private park-special projects such as Suncheon Samsan Park, which achieved 100% sales success in Suncheon, as well as Suncheon Sinwol and Mangbuk Districts, and Gwangju Central Park."
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