Dongbu Construction Wins First Contract for Bucheon Daejang Public Housing District Section 1

Dongbu Construction Building, Yeoksam-dong, Gangnam-gu, Seoul / Photo by Dongbu Construction

[Asia Economy Reporter Noh Kyung-jo] Dongbu Construction has succeeded in securing the first public construction project contract of the new year.

On the 12th, Dongbu Construction announced that it was selected as the successful bidder for the "Bucheon Daejang Public Housing District Development Project Section 1" commissioned by Korea Land and Housing Corporation (LH) the day before. The contract amount is approximately 123.6 billion KRW, and Dongbu Construction will act as the lead contractor with a 70% stake.

This project involves developing a large-scale public housing district including earthworks, pipeline works, and bridges on a 1,641,910㎡ site covering Daejang, Ojeong, Wonjong, and Samjeong-dong areas in Bucheon, Gyeonggi Province. The construction period is 50 months after commencement. Dongbu Construction expects this to contribute to stabilizing housing supply and demand in the metropolitan area and creating jobs.

Last year, Dongbu Construction secured about 700 billion KRW in public construction projects, ranking second in the industry. Among these, it achieved approximately 355.1 billion KRW in orders through technical bidding.

A Dongbu Construction official said, "Due to the downturn in the construction market, competition for public construction contracts this year will be fiercer than ever," adding, "Despite the challenging business environment, we will steadily fill our order book this year with a selection and concentration bidding strategy based on our technological competitiveness."

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