Ssangyong Construction Enters Daejeon Housing Market After 13 Years... Wins Construction Contract Worth 140 Billion KRW

Perspective view of the apartment project by the Eupnae-dong Hoedeok Regional Housing Association in Daedeok-gu, Daejeon. (Provided by Ssangyong Construction)

[Asia Economy Reporter Kim Hyemin] Ssangyong Construction is re-entering the Daejeon housing market after 13 years.

On the 25th, Ssangyong Construction announced that it had won the contract for the Hoedeok Regional Housing Association project at 51-18, Eupnae-dong, Daedeok-gu, Daejeon, which received business plan approval on the 17th. The construction cost is approximately 140 billion KRW.

With this contract, Ssangyong Construction is re-entering the Daejeon housing market for the first time in 13 years since the completion of Ssangyong Yega in Taepyeong-dong, Daejeon, in September 2008. This is the first time they will supply 'The Platinum'.

The Hoedeok Regional Housing Association project, which has secured 100% land ownership, will be transformed into 'The Platinum' apartments consisting of 11 buildings, ranging from 3 basement floors to 25 above-ground floors, with a total of 745 households. Construction is scheduled to begin in October, with general sales at the end of the year, and completion expected in June 2024. The number of units available for general sale, excluding those for association members, is 237.

A Ssangyong Construction official said, "We have consecutively won projects such as remodeling in the metropolitan area, the Garohousing maintenance project in Busan, and this project in the first half of the year," adding, "We will continue to target the market to secure various projects in the private housing sector."

Meanwhile, Ssangyong Construction has secured projects worth approximately 4 trillion KRW and 25,000 households nationwide in urban maintenance fields such as reconstruction, redevelopment, and remodeling. In the housing sector, they are currently undertaking projects worth about 700 billion KRW and 4,000 households nationwide, including regional housing associations, urban development projects, and terrace houses.

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