Sambu Construction Wins 63 Billion KRW Contract for New Logistics Center Construction at Gwangju Pyeongdong Industrial Complex
[Asia Economy Reporter Yoo Hyun-seok] Sambutogeon announced on the 5th that it has won the contract for the construction of a new logistics center in the Pyeongdong Industrial Complex in Gwangju.
The newly contracted construction project by Sambutogeon is a logistics center planned to be built on a site at 751-18 Jangnok-dong, Gwangsan-gu, Gwangju Metropolitan City, consisting of one building with one basement floor and eight above-ground floors, with a total floor area of 19,243 pyeong.
The contract amount is 63 billion KRW, which corresponds to 16.6% of the 2020 sales revenue of 376.3 billion KRW. The construction period is 18 months from the start date.
This project site is located approximately 3.7 km in a straight line (about 10 minutes by car) from Seogwangsan IC on the Muan-Gwangju Expressway, making it a highly accessible area with excellent highway connectivity, and is evaluated as the optimal location for a logistics center in the Jeonnam region.
Additionally, a 55,000-pyeong Coupang Gwangju Advanced Logistics Center is currently under construction within the same industrial complex.
Demand for hub logistics centers, especially from large corporations and distribution companies, is high. However, due to the total volume control system for logistics businesses within the Pyeongdong Industrial Complex limiting logistics sites to within 9%, competition for occupancy is expected to be intense.
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A Sambutogeon official stated, “Sites such as the joint housing in Oedong, Gyeongju, the residential lodging facility in Ichung-dong, Pyeongtaek, Gyeonggi, the complex facility in Gyomun-dong, Guri, the urban residential housing in Topyeong-dong, Seogwipo, and the terrace houses in Onui-dong, Chuncheon, which were contracted last year, are either under construction or scheduled to start soon, so we expect a significant improvement in performance.”
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