Yojin Construction Wins 50 Billion KRW Contract for New 'Transit-Oriented Youth Housing' in Sillim-dong

Perspective view of youth housing near the station in Sillim-dong, Gwanak-gu, Seoul (Photo by Yojin Construction Industry)

[Asia Economy Reporter Moon Jiwon] Yojin Construction Industry has secured a contract for the construction of a station-area youth housing project worth approximately 50 billion KRW.

According to Yojin Construction on the 14th, the station-area youth housing is located in the area of 240-3, Sillim-dong, Gwanak-gu, Seoul. It is a new construction project for youth rental housing and commercial facilities, consisting of 4 basement floors and 16 above-ground floors, with a total floor area of 32,088.19㎡.

After demolition work, construction is scheduled to begin in the second half of this year, with a construction period of about 34 months after groundbreaking. The client is Multi-Asset Seorim Station Youth Housing Specialized Investment Private Real Estate Investment Company Limited.

In addition, Yojin Construction purchased land near Balsan Station in Balsan-dong, Gangseo-gu, Seoul, in December last year and established a fund with Multi-Asset Asset Management to carry out a youth rental housing project with 720 units. This project is currently preparing for integrated review by the Seoul Metropolitan Government and is scheduled to start construction in the second half of this year.

A Yojin Construction official stated, "We are focusing on securing station-area housing contracts by leveraging active technical proposals and 45 years of housing construction know-how," adding, "We are currently negotiating multiple similar new construction contracts."

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