Ssangyong Construction Wins Small-Scale Reconstruction Project for Jangmi Apartment in Daejeon

Aerial view of Jangmi Apartment in Yongmun-dong, Daejeon. (Provided by Ssangyong Construction)

[Asia Economy Reporter Kim Hyemin] Ssangyong Construction recently won the rights to the Garojutaek Maintenance Project for Jangmi Apartment in Yongmun-dong, Daejeon.

Ssangyong Construction announced on the 29th that it had secured the contract for the Garojutaek Maintenance Project of Jangmi Apartment located at 592-12 Yongmun-dong, Seo-gu, Daejeon. The construction cost is approximately 75 billion KRW.

Since last year, Ssangyong Construction has actively started securing small-scale maintenance projects in large cities, obtaining construction rights for about 1,600 households across seven complexes including Taegwang Mansion and Oncheon Gongjak Mansion and Oncheon 2nd Public Housing in Busan, Samdeok Jinju in Anyang, and Hongun-dong in Seoul. The accumulated construction cost amounts to about 450 billion KRW.

The newly secured Jangmi Apartment in Daejeon will be transformed through small-scale reconstruction into 'The Platinum' residential-commercial complex apartments consisting of two buildings, ranging from five basement floors to 35 above-ground floors, with a total of 252 households. Construction is scheduled to begin in January 2025, with 176 units available for general sale excluding those allocated to association members.

Ssangyong Construction re-entered the urban maintenance project market in Daejeon after 14 years since Taepyeong-dong Ssangyong Yega (Taepyeong Jugong Reconstruction) in 2008. A Ssangyong Construction official stated, "Our strategy to specialize in small-scale maintenance projects in large cities with superior location conditions, rather than fiercely competitive large-scale maintenance projects, is yielding results," adding, "We will actively seek remodeling and small-scale reconstruction projects in Seoul, the metropolitan area, Busan, and Daejeon to further elevate the status of 'The Platinum.'"

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