Hyundai Construction Surpasses 4 Trillion Won in Urban Renewal Project Orders for 2 Consecutive Years

Order Received for 75.3 Billion KRW Daechi Seonggyeong 3rd Apartment Street Housing Maintenance Project
Aiming for Industry's First 3 Consecutive Years of No.1 Ranking with Additional Orders by Year-End

Daechi Seon-gyeong 3rd Street Housing Complex Bird's-eye View.

Hyundai Engineering & Construction secured the construction rights for the Garohousing Maintenance Project of Daechi Seongyeong 3rd Apartment, a prime location in Gangnam, Seoul, joining the 40 trillion KRW club for the second consecutive year with a cumulative urban maintenance project order amount of 4.0385 trillion KRW this year.

According to industry sources on the 19th, the Daechi Seongyeong 3rd Apartment Garohousing Maintenance Project Association held an extraordinary general meeting on the 18th to select a construction company and conducted a member vote on Hyundai Engineering & Construction’s sole bid as the preferred negotiation partner. With all 66 votes (100% approval), Hyundai Engineering & Construction was finally selected as the construction company.

Daechi Seongyeong 3rd Apartment initially established a vertical extension remodeling association in 2014 and pursued the project, but by integrating a 3,568.80㎡ site including nearby commercial buildings into a Garohousing Maintenance Project, the project’s feasibility was enhanced, transforming it into a luxury residential-commercial complex with 7 basement floors, 18 above-ground floors, and a total of 68 households.

Hyundai Engineering & Construction plans to introduce ‘THE H Daechi Station,’ applying the premium residential brand ‘THE H’ for the first time in a Garohousing project at Daechi Seongyeong 3rd Apartment.

Since 2016, Hyundai Engineering & Construction has secured over 1 trillion KRW annually in urban maintenance projects. Notably, last year, it recorded an all-time high of 4.7383 trillion KRW by being selected as the construction company for the largest redevelopment project in history, the Hannam 3 District Redevelopment Project in Yongsan-gu, Seoul.

This year, starting with the sole order for the remodeling project of Suji Sinjeong Village Complex 9 in Yongin, Hyundai Engineering & Construction secured construction rights worth a total of 4.0385 trillion KRW across 17 sites, including ▲ Garohousing in Hapjeong-dong 447 area, Mapo-gu, ▲ Doma·Byeondong 1 District Redevelopment in Daejeon, ▲ Shinam 10 Redevelopment Promotion Zone Reconstruction in Daegu, ▲ Small-scale reconstruction of Hannam Prototype Apartment in Yongsan-gu, ▲ Geumo Living Area 1 District Redevelopment in Uijeongbu, ▲ Haga District Redevelopment in Jeonju, ▲ Beomcheon 4 District Redevelopment in Busan, ▲ Byeoksan Apartment Remodeling in Geumho-dong, Seongdong-gu, ▲ Hoeweon 2 District Redevelopment in Changwon, ▲ Garohousing in Jangwi 11-1 District, Seongbuk-gu, ▲ Machon 4 Redevelopment Promotion Zone Redevelopment in Songpa-gu, ▲ Yonghwa Jugong Complex 1 Reconstruction in Asan, ▲ Dong-gu 43 District Redevelopment in Daegu, ▲ Banpo MV Apartment Remodeling in Seocho, ▲ Jamwon Donga Apartment Remodeling in Seocho, and ▲ Daechi Seongyeong 3rd Apartment Garohousing.

On the 19th, Hyundai Engineering & Construction is also poised to win the contract for the Sanbon Gaenari Complex 13 Remodeling Project (worth 219.8 billion KRW) by submitting a sole bid in consortium with POSCO Engineering & Construction. In particular, surpassing 5 trillion KRW in orders is possible with projects such as Ansan Gojan Yeonrip 3 District Reconstruction (261.6 billion KRW), Suwon Sinmyeong-dong Boa Apartment Remodeling (305.3 billion KRW), Heukseok 9 District Redevelopment in Dongjak-gu, Seoul (449 billion KRW), and Jamwon Galaxy Complex 1 Apartment Remodeling (185 billion KRW).

Additionally, Hyundai Engineering & Construction leads the industry in remodeling projects, contributing significantly to the strong performance in the urban maintenance sector this year, recording 1.4355 trillion KRW in orders across five project sites. If the sole bids as preferred negotiation partners for Suwon Sinmyeong-dong Boa Apartment and Jamwon Galaxy Complex 1 Apartment are also secured, the remodeling project order amount for this year is estimated to reach 1.926 trillion KRW.

A Hyundai Engineering & Construction official stated, "Since there are still projects with over 1 trillion KRW in construction rights to be finalized within the year, we will do our best until the end to achieve a record-breaking performance, join the 5 trillion KRW club, and become the first in the industry to rank first for three consecutive years, capturing all three goals."

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