'Beom Hyundai Family' Consortium Wins Daejeon Doma and Byeondong 1 Districts... Accelerating Urban Renewal Projects

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Daejeon Doma Byeondong 1 District Hillstate The First Perspective View

[Asia Economy Reporter Kangwook Cho] The consortium of Hyundai Engineering & Construction and Hyundai Engineering, part of the 'Hyundai conglomerate,' has been selected as the construction company for the Doma·Byeondong 1 District Housing Redevelopment Project in Seo-gu, Daejeon Metropolitan City.

According to industry sources on the 21st, the Doma·Byeondong 1 District Housing Redevelopment Maintenance Project Association held an extraordinary general meeting on the 20th at Gajang Jeil Church in Seo-gu, Daejeon, to select a construction company. A vote among association members on a private contract with the Hyundai Engineering & Construction and Hyundai Engineering consortium resulted in an overwhelming approval with 163 out of 169 votes (96.4%), finalizing the Hyundai project team as the construction company.

This project site had its bidding fail after only Hyundai Engineering & Construction and Hyundai Engineering each participated once in two site briefings held in December last year. Subsequently, the project switched to a private contract and selected the Hyundai project team as the preferred negotiation partner.

The Doma·Byeondong 1 District Housing Redevelopment Maintenance Project covers a site of 105,527.5m2 at 252 Dosan-ro, Seo-gu, Daejeon (Gajang-dong 38-1). It plans to build 15 apartment buildings with 1,779 households ranging from two basement floors to 38 floors above ground, along with auxiliary welfare facilities.

Doma·Byeondong 1 District is located about 1 km from Yongmun Station on Daejeon Subway Line 1, offering excellent transportation conditions. In the future, Doma Station will be newly established to serve the Daejeon Urban Railway Line 2 tram and the Chungcheong Regional Metropolitan Railway, which is expected to bring transportation-related development benefits. Additionally, the district borders Yudeungcheon, one of Daejeon's three major rivers along with Daejeoncheon and Gapcheon, on the east side, making access to waterfront parks convenient.

Daejeon Doma Byeondong 1 District Sky Community

The Hyundai Engineering & Construction and Hyundai Engineering consortium proposed the complex name ‘HILLSTATE THE FIRST’ and plans to complete Doma·Byeondong 1 District as a symbol of Daejeon and a landmark of Yudeungcheon by applying urban stream street design, including creating a large street mall connecting commercial facilities and a mega gate.

They also plan to create walking paths within the complex that naturally connect the adjacent park and Yudeungcheon, and develop an open park in the space secured by underground parking to showcase premium landscaping. A sky community and rooftop garden will be established to enjoy high-quality leisure and cultural life while appreciating the views of Yudeungcheon and the cityscape.

Hyundai Engineering & Construction, which achieved orders worth 4.7383 trillion KRW in the urban maintenance sector last year, breaking its record from 2017, plans to actively pursue new orders this year as well. Following the remodeling of Suji Sinjeong Village 9 Complex in Yongin and the street housing project in Hapjeong-dong 447 area, this is their third construction company selection this year, and they will continue to pursue additional orders such as the remodeling of Kumho Beksan in Seongdong-gu, Seoul, and the reconstruction project of Sinam 10 District in Daegu.

Hyundai Engineering also achieved orders worth 1.4166 trillion KRW in the urban maintenance sector last year, becoming a new powerhouse by entering the urban maintenance market and joining the 1 trillion KRW club for the first time. This year, they have consecutively secured projects such as the redevelopment of Uijeongbu Jangam 5 District and remodeling of Gwangmyeong Cheolsan Hanshin Apartments, accelerating their pursuit of the 1 trillion KRW club for the second consecutive year.

A representative of the Hyundai project team stated, “We have maintained the highest credit rating for corporate bonds in the industry for 11 consecutive years, making us the best partner with optimal conditions for urban maintenance projects that require large-scale liquidity. We have received firm support from association members,” adding, “Following last year, we will repay the trust of association members with premium complexes that fully satisfy their expectations through successful project orders this year as well.”

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