Jungheung Construction Selected as Contractor for 407.3 Billion Won 'Masan Banwol District' Redevelopment Project

Perspective View of the Redevelopment Project in Banwol District, Masan, Changwon City

[Asia Economy Reporter Donghyun Choi] Joongheung Construction Group's Joongheung To-geon announced on the 14th that it has been selected as the construction company for the redevelopment project in Banwol District, Masan, Changwon City, Gyeongnam.

This project involves building apartments with 3 basement floors, up to 25 floors, 18 buildings, and 1,954 households on a site of approximately 292,500㎡ in Banwol-dong 61-1 area, Masanhappo-gu, Changwon City. Joongheung To-geon and Hyundai Engineering form a consortium with 35% each, and Bando Construction holds 30%. The total project cost is 407.3 billion KRW, with Joongheung To-geon's construction amount being 142.5 billion KRW.

Wolyeong Elementary School is located just a 1-minute walk away, and there are middle and high schools within a 1 km radius, providing a favorable educational environment. Various convenience facilities such as E-Mart, Lotte Mart, and Lotte Department Store are located near the project area, attracting attention as a premium complex. Construction is scheduled to start in February 2024 and move-in is expected in December 2026.

Previously, Joongheung To-geon began with 221 households in the Hyo-seong reconstruction in Busan, and secured orders for ▲833 households in Cheonan Cultural District ▲254 households in Seoul Bongcheon 2 District ▲1,828 households in Daejeon Seonhwa 1 District ▲220 households in Seoul Gilhun Apartment ▲249 households in Gumi Songnim Apartment ▲Changwon Sangnam Sanho District redevelopment and urban environment maintenance projects, achieving a total of 5,288 households and a contract amount of 1.1553 trillion KRW this year.

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