SK Construction and Hyundai Engineering Win Redevelopment Contract for Uijeongbu Jangam 5 District
[Asia Economy Reporter Onyu Lim] SK Engineering & Construction announced on the 31st that it has won the contract for the Jangam 5 District Housing Redevelopment Project in Uijeongbu, Gyeonggi Province, forming a consortium with Hyundai Engineering. The total contract amount is 222.4 billion KRW.
This project involves constructing apartments and ancillary welfare facilities consisting of 7 buildings with a total of 964 households, ranging from 3 basement floors to 33 above-ground floors, in the area of 406 Singok-dong, Uijeongbu-si, Gyeonggi Province. Construction and sales are scheduled to begin in August 2023, with move-in planned for July 2026.
The project site offers convenient access to Seoul and the metropolitan area via the Metropolitan Area 1st Ring Expressway and Dongbu Expressway. Expectations for future value appreciation are high due to transportation development benefits such as the GTX-C line and SRT extension. Uijeongbu Elementary School is located right next to the site, and it is also close to green spaces such as Balgok Neighborhood Park and Jungnang Stream.
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An SK Engineering & Construction official stated, “The SK Engineering & Construction and Hyundai Engineering consortium has chosen a ‘joint performance’ method without dividing the construction sections to deliver apartments of excellent and consistent quality,” adding, “The two companies plan to cooperate to develop the project into a landmark apartment complex representing the region.”
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