Dongbu Construction Wins Contract for Apartment Construction on Site of Park No.16 in Geomdan, Incheon

Perspective view of the multi-family housing site at Geomdan 16 Park, Incheon (Photo by Dongbu Construction)

[Asia Economy Reporter Moon Jiwon] Dongbu Construction announced on the 31st that it has won the contract for the construction of non-park facilities (apartment complex) as part of the development project of Geomdan 16 Park in the Oryu-dong area of Seo-gu, Incheon.

This project is a private park special case project by Incheon City. Dongbu Construction plans to build 878 apartment units in 9 buildings ranging from 2 basement floors to 27 above-ground floors on a 39,550㎡ site in the area.

The private park special case project is a system that allows the private sector to develop the remaining land as non-park facilities in exchange for creating and donating a portion of the site as a park to resolve unexecuted urban planning facilities (parks).

The total construction cost is 155.3 billion KRW, and Dongbu Construction won the project together with Wonkwang Construction and Dodam Development.

The client is Geomdan 16 Park, and the construction period is approximately 31 months from the start date.

The complex is located within a 10-minute walk from Wanggil Station and Geomdan Oryu Station on Incheon Subway Line 2, with good accessibility to the Metropolitan Area 2nd Ring Expressway. In particular, since the complex is adjacent to the park, the residential environment is pleasant. Urban development projects such as Geomdan 3 and 5 districts are also underway nearby, so it is expected to transform into a large-scale residential area in the future.

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