Hanshin Engineering & Construction Wins Contract for Uiseong 4th Street Housing Maintenance Project in Uiwang, Gyeonggi

Hanshin Engineering & Construction announced on the 16th that it has secured the Uiseong 4th Apartment Street Housing Maintenance Project in Uiwang-si, Gyeonggi Province, worth 87 billion KRW.

Perspective view of the Woseong 4th Apartment Street Housing Maintenance Project in Uiwang-si, Gyeonggi / Image courtesy of Hanshin Engineering & Construction

This project involves constructing a street housing maintenance project on a 9,301.19㎡ site at 244-1 Samdong, Uiwang-si, featuring apartments up to 29 stories high (209 units) and auxiliary welfare facilities, with a construction cost of approximately 86.8 billion KRW. It is a station-area development within walking distance of Uiwang Station on Subway Line 1, providing convenient access to public transportation, and is close to Deokseong Elementary School, Bugok Middle School, and Uiwang High School. The surrounding area is rich in green infrastructure, including Wangsong Lake Park, Deokseongsan Mountain, and Bugok Sports Park.

On the 4th, Hanshin Engineering & Construction also signed a contract with Mugunghwa Trust for the reconstruction project of Hyundai Apartments in Siheung-dong 20-2, Geumcheon-gu, Seoul. The construction involves building a residential complex and auxiliary welfare facilities from three basement floors to 12 above-ground floors, with a contract amount of 60.824 billion KRW. This corresponds to 5.0% of Hanshin Engineering & Construction's consolidated sales in 2022. The construction period is 30 months from the start of construction.

Hanshin Engineering & Construction is focusing on securing maintenance projects with relatively low business risks amid the construction industry downturn. It is known to have secured a total of 15 maintenance projects since last year. A representative from Hanshin Engineering & Construction stated, "As a result of accelerating the acquisition of maintenance projects, we hold a substantial backlog of maintenance project orders," adding, "Additional maintenance project orders are expected in the metropolitan area."

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