POSCO Construction Proposes 'The Sharp One Treche' as Complex Name for Busan Daeyeon 8 District

[Asia Economy Reporter Yoo In-ho] POSCO Engineering & Construction has proposed a sole bid under the complex name "THE SHARP ONE TRECHE" for the Daeyeon 8 District Redevelopment Project in Nam-gu, Busan, the largest redevelopment project in the Busan area.

THE SHARP ONE TRECHE is a compound word combining the Spanish word for three, ‘Tres’, the English word for treasure, ‘Treasure’, and the word ‘Cherish’, meaning to value dearly, with the addition of ONE.

POSCO Engineering & Construction offered the Daeyeon 8 District union members the highest level of financial conditions in domestic redevelopment projects. Regardless of the legal collateral loan-to-value ratio (LTV) for basic relocation costs, it guarantees relocation costs up to 100% LTV and supports 200 billion KRW for project promotion expenses. The union’s project costs are also lent interest-free in full, and a payment timing selection system is proposed, allowing members to choose to pay 100% of their contributions either at move-in or one year after move-in.

They promised a 60% discount on the union members’ sale price compared to the general sale price and proposed 100% in-kind compensation in case of unsold units, alleviating union members’ concerns about unsold properties.

POSCO Engineering & Construction plans to enhance differentiation from nearby complexes and increase the complex’s value by proposing specialized designs. The layout ensures natural views from all units, including ocean views, mountain views, and park views.

All units are designed with at least 4 bays and 100% south-facing orientation to improve livability, and 26 unit types are offered to broaden union members’ choices. The average parking space is 2.3 cars per unit, with 100% wide parking spaces, and 30% of these are ultra-wide parking spaces that are 30 cm wider than the legal standard.

The finishing materials and special provided items that will captivate union members are also at the industry’s highest level. Finishes include the Italian luxury kitchen furniture ‘Cesar’ used in Acro Seoul Forest and Gaepo Prezidence Xi, German system windows ‘VEKA’, German premium faucets ‘Grohe’, top-grade engineered stone ‘Kanstone’, sanitary ware used in luxury hotels ‘American Standard’, and Italian premium wood ‘Stile’.

POSCO Engineering & Construction matched all these proposals?including top-level financial conditions, specialized designs, and finishing materials?with a reasonable construction cost of 4.36 million KRW per pyeong.

The Daeyeon 8 District Redevelopment Project, which is scheduled for a contractor selection general meeting in October, will be transformed into 3,706 households ranging from 4 basement floors to 38 above-ground floors.

A POSCO Engineering & Construction official said, “We proposed a sole bid that is most advantageous and beneficial to union members, backed by the company’s financial strength and soundness, offering unprecedented financial conditions at a reasonable construction cost. Since we set a low sales profit margin, we will concentrate all the company’s resources and capabilities to transform this into Busan’s best luxury residential complex, ensuring quality as well.”

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