Daewoo Construction to Supply 35,000 Households This Year, Exceeding Target

[Asia Economy Reporter Yoo In-ho] Daewoo E&C announced on the 5th that it will supply more than 35,000 housing units this year, exceeding its initial target.

Daewoo E&C is preparing to launch sales in the fourth quarter for three complexes in Gwacheon Knowledge Information Town and demand-rich complexes such as 'Gamil Prugio.' If projects like the Dunchon Jugong reconstruction, which have not yet finalized their sales schedules, confirm their timelines within the year, the supply volume could increase further.

Accordingly, it is expected to supply 35,509 housing units this year, surpassing the initial target of approximately 34,000 units set at the beginning of the year.

Up to the third quarter, Daewoo E&C has sold 25,994 units, recording an overwhelming supply performance among private construction companies. By region, it supplied 17,961 units in the Seoul metropolitan area, including 'Hwaseo Station Prugio Brichiel' and 'Geomam Station Royal Park City Prugio,' and successfully sold 8,033 residential units in provinces, including 'Cheonan Prugio Lakeside' and 'Gimhae Prugio Highend.'

A Daewoo E&C representative explained, “Due to various external variables such as permit situations and COVID-19, the exact sales performance will be confirmed at the end of the year. However, since projects currently classified as undecided may also proceed with sales, it seems likely that we will achieve the top private supply performance again this year.”

Based on the achievements in the housing sector this year, Daewoo E&C plans to overcome the increasingly uncertain domestic and international business environment and establish a foundation for mid- to long-term growth. It is expected that the financial structure will improve significantly based on the success in the housing sector, which has favorable profitability.

In fact, in the first half of this year, Daewoo E&C maintained a stable profit structure by recording a gross profit margin of 13.6% in the housing construction sector. Additionally, other sectors such as civil engineering and plants also showed improved gross profit margins compared to the first half of last year, indicating growing stability across the entire portfolio.

A company official stated, “Most overseas sites that previously incurred losses are nearing completion, significantly reducing uncertainties, and a stable growth foundation has been established based on outstanding competitiveness in the domestic housing sector. We will accelerate activities to enhance corporate value and discover new growth engines in preparation for the post-COVID era, aiming to become a global construction leader.”

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