HDC Hyundai Development Company Joins the '1 Trillion Won Club' with Urban Regeneration Project Win
Perspective view of Yongdu 1 District 6 Zone public redevelopment by the HDC Hyundai Development Company and Hyundai Engineering consortium
HDC Hyundai Development Company announced on the 31st that it was selected as the construction company for the Yongdu 1 District 6 Zone Public Redevelopment Project on the 27th, surpassing 1 trillion KRW in cumulative urban regeneration project orders this year. The cumulative order amount of 1.0307 trillion KRW this year exceeds the order amount for the same period last year.
The Dongdaemun-gu Yongdu 1 District 6 Zone Redevelopment Promotion Area Public Redevelopment Project, won by the consortium of Hyundai Engineering and HDC Hyundai Development Company, is the first public redevelopment project with Seoul Housing and Communities Corporation (SH) as the project implementer.
The project consists of four buildings ranging from 8 basement floors to 61 above-ground floors, including 999 apartment units and 85 officetel units. The total construction cost is approximately 661.4 billion KRW, with both companies holding 50% equity each to carry out the construction. A differentiated exterior specialized design will be applied through collaboration with the world-renowned overseas design firm SMDP, and for safety review of the 61-floor super high-rise, collaboration will also be conducted with LERA, a globally recognized structural engineering firm.
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Prior to this, HDC Hyundai Development Company independently secured two urban regeneration projects in the first half of the year. The first urban regeneration project order this year was the reconstruction project of Gwanyang Hyundai Apartments in Dongan-gu, Anyang-si, Gyeonggi Province, won on February 5. The construction scale is 15 buildings ranging from 3 basement floors to 32 above-ground floors, with 1,305 units, and the total project cost is 417.4 billion KRW. The Wolgye Dongsin Apartment reconstruction project, selected as the construction company at the constructor selection general meeting on the 27th of the same month, consists of 14 buildings ranging from 4 basement floors to a maximum of 25 above-ground floors, with a total project cost of 282.6 billion KRW.
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