Kolon Global Wins 13 Urban Renewal Projects... Joins the 1 Trillion Won Club

[Asia Economy Reporter Kwak Min-jae] Kolon Global announced on the 26th that it has secured more than 1 trillion KRW in orders for urban maintenance projects this year.

Main aerial view of Busan Daeyeon-dong Zones 1 to 3.
[Photo by Kolon Global]

Kolon Global secured a total of 13 urban maintenance projects this year, recording sales of 1.4004 trillion KRW. By project type, there were 2 redevelopment projects (361 billion KRW), 1 remodeling project (377.9 billion KRW), 2 small-scale reconstruction projects (155.7 billion KRW), and 8 street housing maintenance projects (505.7 billion KRW).

The order performance in the Seoul area stands out prominently. Kolon Global secured a total of 6 project sites in connection, including Beondong Districts 1 to 5 in Gangbuk-gu, Seoul last year, and Beondong District 6 this year. Kolon Global has secured a brand town with more than 1,300 households within Seoul.

A decisive factor in Kolon Global’s entry into the 1 trillion KRW club was the large-scale remodeling project called ‘Changwon Seongwon Towol Grand Town.’ Kolon Global achieved order results in remodeling projects, which are considered a league for large companies only, this year.

Kolon Global plans to expand urban maintenance projects next year while maintaining high profitability through regional housing associations and joint development, thereby building a stable portfolio.

A Kolon Global official said, “Compared to construction companies with similar contract rankings, our order amount has increased significantly due to securing large-scale projects,” adding, “We will diversify order methods such as public, trust, and REITs to ensure stability.”

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