Sambu Construction Signs Contract for 52.7 Billion KRW Seoul Seongdong-gu Doseon-dong Complex Building Construction Project

[Asia Economy Reporter Hyunseok Yoo] Sambutogeon announced on the 26th that it has won the contract for the construction of a complex building in Doseon-dong, Seongdong-gu, Seoul.

The complex building construction project in Doseon-dong, Seongdong-gu, Seoul, contracted by Sambutogeon, involves completing the building handover and demolition work on the project site at 20 Doseon-dong and five other parcels, and constructing a complex building including officetels and neighborhood living facilities. The contract amount for the construction is 52.7 billion KRW, which corresponds to 23.3% of the 2019 sales of 226.2 billion KRW. The construction period is 31 months from the actual start date.

The complex building in Doseon-dong, Seongdong-gu, constructed by Sambutogeon, is located near Hanyang University, Hanyang University Hospital, and Seongdong-gu Office, providing abundant tenant demand. Within 200 meters of the project site, Wangsimni Station connects five subway lines: Line 2, Line 5, Bundang Line, Gyeongui Line, and Dongbuk Line (scheduled for completion in 2024), making it a prime station area with excellent transportation networks and convenience facilities.

Additionally, the Wangsimni private station area includes lifestyle infrastructure such as Enter Six, CGV, E-Mart, and shopping facilities, making the location highly preferred. The Dongbuk Light Rail Transit connecting Wangsimni and Sangye-dong has been actively promoted since last year and is expected to be completed in 2024, reducing commuting time by more than half and driving investment demand.

A company official stated, “The Wangsimni area has the highest rental rates within Seongdong-gu, and with abundant hinterland demand and excellent transportation networks, we expect high tenant preference.”

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