Dongyang Wins First Horizontal Housing Redevelopment Project... Strengthening Future Growth Businesses

A bird's-eye view of the upscale apartment street housing maintenance project contracted by Dongyang.
[Photo by Eugene Group]

[Asia Economy Reporter Kim Jong-hwa] Dongyang has succeeded in winning its first horizontal housing maintenance project. Dongyang plans to expand its business portfolio by making horizontal housing maintenance projects a new growth engine. Dongyang, a subsidiary of Eugene Group, announced on the 6th that it had signed a construction contract for the 'Bucheon Gojang-dong Buchon Apartment Horizontal Housing Maintenance Project.'

This project is a small-scale housing maintenance project to build 197 apartment units and auxiliary welfare facilities on the site of 292-6 Gojang-dong, Bucheon-si, Gyeonggi-do, with a scale of one basement floor to 13 floors above ground.

It is a station area within a 10-minute walk from Wonjong Station on the Seohae Line, with convenient transportation such as Gyeongin Expressway, Sinwol-Yeouiji Underground Road, Metropolitan Area 1st Circular Expressway, and Incheon Airport Expressway, allowing residents to enjoy both Seoul and Incheon living areas.

The project operator is the Buchon Apartment Horizontal Housing Maintenance Project Association, and the construction cost is about 38.9 billion KRW. The construction period is 20 months from the start date. Currently, 100% of the association members have completed their subscription applications, and the project implementation plan is being approved. Approval is expected to be completed within this month, with relocation and demolition to be finished, and construction scheduled to start in October next year.

A Dongyang official said, "Having succeeded in the first horizontal housing maintenance project after a long preparation period, we will regain the reputation of a prestigious housing business by constructing high-quality luxury apartments," adding, "We plan to strengthen maintenance projects to create new revenue sources, not only in horizontal housing maintenance projects but also by entering Seoul's Moa Town Moa Housing projects."

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