Ssangyong Construction Wins Redevelopment Project in Goyang-dong 1-2 District...650 Billion KRW Scale

Perspective view of Goyang-dong 1-2 District Redevelopment (Photo by Ssangyong Construction)

[Asia Economy Reporter Moon Jiwon] Ssangyong Construction has been selected as the contractor for the 'Goyang-dong 1-2 District Redevelopment Project' located at 92-1 Goyang-dong, Goyang-si, Gyeonggi-do.

On the 28th, Ssangyong Construction announced that it secured 75 votes in favor out of 87 union members attending the recent general meeting for selecting the contractor for Goyang-dong 1-2 District (out of a total of 129 union members), thus being chosen as the contractor.

The total project cost is approximately 65 billion KRW. Ssangyong Construction cited the recent consecutive subscription closures of 'The Platinum' as the reason for their successful bid.

This year, Ssangyong Construction supplied apartments, residential-commercial complexes, and officetels totaling 5,622 units across 9 complexes (3,600 units for general sale), all of which achieved subscription closures in the first priority.

It is also known that Ssangyong Construction's proposal of customized alternative designs tailored to the complex influenced the success of the bid. Ssangyong Construction expanded the existing 2-3 bay design to a 4-bay design and applied specialized designs to the rooftop, landscaping, and community facilities.

A Ssangyong Construction official stated, "We were able to gain a competitive edge in the bidding by emphasizing alternative designs during the project proposal," adding, "We plan to actively participate not only in premium small-scale reconstruction projects but also in street housing maintenance projects."

The Goyang-dong 1-2 District redevelopment will feature 'The Platinum' apartments consisting of 7 buildings ranging from 2 basement floors to 15 above-ground floors, totaling 317 units. The number of units available for general sale, excluding union members' units, is 159.

This project is scheduled to receive management disposition approval in February 2022, commence construction in February 2023, and be completed by April 2025.

Including the Goyang-dong 1-2 District redevelopment, Ssangyong Construction has secured redevelopment and reconstruction projects nationwide with a total contract amount of approximately 1 trillion KRW, covering 7 complexes and 7,050 units in total.

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