Daewoo Construction to Supply a Total of 34,791 Households Next Year

[Asia Economy Reporter Yoo In-ho] Daewoo E&C announced on the 22nd that it will supply a total of 34,791 housing units next year.

Daewoo E&C's housing product brand Prugio plans to supply a total of 34,791 units nationwide in 2021, including 28,978 apartment units, 3,133 residential-commercial complex units, 2,365 officetel units, and 315 townhouses.

Daewoo E&C will supply more than 30,000 units for two consecutive years following 2020.

By region, it plans to supply 19,159 units in the Seoul metropolitan area including Seoul, and 15,632 units in other provinces. In particular, the supply volume in Seoul, which has been struggling due to a shortage of new supply, has significantly increased from 1,057 units in 2020 to 7,809 units in 2021. The provincial supply is also expected to secure stable subscription demand as most of it is supplied mainly to metropolitan cities.

The volume of urban maintenance projects supported by union supply is 13,384 units, similar to this year. The volume of self-developed projects has greatly increased from 1,598 units this year to 4,104 units.

Through private contracting projects ordered by developers such as Seun District and Paju Unjeong New Town, 16,336 units will be supplied. Additionally, 967 units will be supplied through public-private joint projects such as the Busan Munhyeon Residential Environment Improvement Project to maintain a stable business structure.

In Seoul, 7,809 units will be supplied including Dunchon Jugong Reconstruction, Haengdang 7 District Redevelopment, and Jangwi 10 District Redevelopment. In the metropolitan area excluding Seoul, sales will be launched in locations with excellent living conditions in the city, including new town housing sites with good access to Seoul such as Suwon Mangpo District, Yangju Station Area Development District, and Incheon Geomdan New Town, as well as Gwangmyeong 2R District Redevelopment, Anyang Bisan Elementary School Surrounding District Redevelopment, and Anyang 1-dong Jinhung Apartment Reconstruction.

In the provinces, 11,186 units will be supplied in metropolitan cities such as Daegu, Busan, and Daejeon. Starting with Daegu’s ‘Suseong The Palace Prugio The Sharp,’ supply will be concentrated in metropolitan cities where the initial sales rate recently recorded an all-time high, including Daegu Icheon Cultural District Redevelopment, Daegu Sangin-dong Apartment Complex, Busan Anrak 1 District Reconstruction, and Busan Beomil-dong Apartment Complex, continuing the strong sales momentum.

In other provinces excluding metropolitan cities, sales will be launched in the most preferred locations within the region such as Jeju Gugeok-ri Townhouse and Gyeongsan Jungsan District, providing an opportunity for actual demanders to purchase their own homes.

Meanwhile, Daewoo E&C plans to diversify its housing business portfolio by expanding the proportion of self-developed projects in the mid to long term. It aims to increase sales and profitability by expanding relatively profitable self-developed projects from the existing business structure focused on private contracting projects and urban maintenance projects.

To this end, a private complex business team dedicated to self-developed projects was newly established in the recent organizational restructuring. In 2021, it plans to supply self-developed projects such as Suwon Mangpo District, Busan Beomil-dong Apartment Complex, and Yangju Station Area Development District.

A Daewoo E&C official said, “Based on the achievements in the housing sector this year, we were able to lay the foundation to overcome the increasing uncertainties in the domestic and international business environment such as COVID-19 and to lead mid- to long-term growth,” and added, “Following this year, we will continue to enhance corporate value and secure financial stability based on the success in the housing sector with favorable profitability next year.”

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