Daewoo E&C Wins Gwacheon Jugong 5 Complex Contract... Achieves '3 Trillion Club' in Urban Renewal

Gateway perspective of Gwacheon 'Summit Maestro' ＜Photo by Daewoo E&C＞

Daewoo E&C has surpassed 3 trillion KRW in orders this year in the urban maintenance business sector by being selected as the construction company for the Gwacheon Jugong 5 Complex housing reconstruction project and the Daegu Dong-gu 43 District redevelopment project. This is the first time the company has secured over 3 trillion KRW in orders in the urban maintenance business sector within a single year.

According to the real estate industry on the 8th, the Gwacheon Jugong 5 Complex Reconstruction Maintenance Project Association held an extraordinary general meeting on the 6th to select the construction company and ultimately chose Daewoo E&C. Among the total 826 association members, 441 attended the meeting in person, and Daewoo E&C received 487 votes (62.1%) out of 783 total votes including absentee ballots.

The Gwacheon Jugong 5 Complex reconstruction project involves constructing a total of 1,260 households, consisting of nine apartment buildings ranging from three basement floors to 35 above-ground floors, along with commercial facilities and auxiliary welfare facilities in Byeolyang-dong 6, Gwacheon-si, Gyeonggi-do. The construction cost amounts to 429.9 billion KRW (excluding VAT).

Daewoo E&C proposed the complex name as "Summit Maestro" by applying its high-end brand. Summit Maestro was designed by the world-renowned architectural design group CallisonRTKL and landscape art master Martha Schwartz. Additionally, Professor Yeomyeongseok from Seoul National University, a top domestic environmental analysis expert, participated in analyzing the entire complex’s architectural environment, including sunlight and views.

A Daewoo E&C official said, "Our successful project experience in the Gwacheon area and accurately understanding the needs of the association members seem to have moved their hearts," adding, "We will fulfill all the contents of the bid proposal and contract to make Gwacheon Jugong 5 Complex a representative landmark complex in Gwacheon."

On the same day, Daewoo E&C was also selected as the construction company for the "Daegu Dong-gu 43 District" redevelopment project, located in Sincheon-dong 502-1, Dong-gu, Daegu. This project involves constructing a total of 1,944 households, consisting of 21 apartment buildings ranging from three basement floors to 27 above-ground floors, along with auxiliary welfare facilities. Daewoo E&C participated as part of a consortium with Hyundai E&C. The total construction cost is 482.9 billion KRW (excluding VAT), of which Daewoo E&C’s share is 45% (217.3 billion KRW).

With this, Daewoo E&C has secured construction rights for a total of 13 projects in the urban maintenance business sector this year, including ▲ Heukseok 11 Redevelopment Promotion District redevelopment ▲ Sanggye 2 District redevelopment ▲ Namyangju Jinju Apartment reconstruction ▲ Changwon Sinwol 3 District reconstruction ▲ Garak Ssangyong 1st Apartment remodeling ▲ Daegu Naedang Shiyeong Apartment reconstruction ▲ Yongin Suji Hyundai Apartment remodeling ▲ Uiwang Bugok Multi-District reconstruction ▲ Daejeon Seongnam-dong 3 District redevelopment ▲ Paju 1-3 District redevelopment ▲ Noryangjin 5 District Redevelopment Promotion District redevelopment ▲ Gwacheon Jugong 5 Complex reconstruction ▲ Daegu Dong-gu 43 District redevelopment, achieving a total order amount of 3.5867 trillion KRW.

A Daewoo E&C official stated, "We are currently participating in bids for the Wonju Wondong Jugong reconstruction and Bulgwang 1 District reconstruction projects," adding, "The construction company selection meetings for these projects are expected to be held within this year, so the order volume is expected to increase further."

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