Ssangyong Construction Wins 150 Billion Won Residence Construction Contract in Dubai

Ssangyong Engineering & Construction recently announced on the 29th that it has secured a $120 million (approximately 151.3 billion KRW) contract for the 'Parkview Residence' project in the PLOT6 area of Dubai.

Parkview Residence is a development located in the prime KIPAF area near Dubai Jebel Park, consisting of a single building with 44 floors above ground and 465 residential units. The building features a luxurious exterior with full glass panels on the four corners, and in addition to residential facilities, high-end amenities for residents will be provided within the complex.

Perspective view of Parkview Residence. [Photo by Ssangyong Construction]

Prior to this contract, Ssangyong Engineering & Construction completed the 'One Residence' project in the same area (PLOT5) in June last year, with a contract value of approximately 200 billion KRW, and Parkview Residence is a follow-up project.

The client is WASL LLC, one of Dubai's largest real estate development and management companies. In January, Kim Woong-ki, Chairman of Global Sea-A and the largest shareholder of Ssangyong Engineering & Construction, met with HE Hesham Abdullah Al Qassim, CEO of WASL Group, during a business trip to Dubai to confirm the maintenance of a strategic partnership between the two companies.

A representative from Ssangyong Engineering & Construction stated, "This contract was secured by maintaining a strong cooperative relationship with the client based on the high-quality construction demonstrated in the One Residence project. We plan to actively pursue overseas markets for luxury construction and social overhead capital (SOC) projects, which had been on hold due to the COVID-19 pandemic."

Meanwhile, since its establishment in 1977, Ssangyong Engineering & Construction has secured 185 contracts in 23 countries including Singapore, Indonesia, Malaysia, Vietnam, India, and the Middle East, generating $13 billion in revenue. Currently, the company is executing 19 projects worth $2.5 billion across 8 countries worldwide.

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