Hanshin Engineering & Construction Achieves 1.1 Trillion KRW in Maintenance Project Orders

Won the Redevelopment Project at Banwol Station in Changwon and the Reconstruction Project at Aengdu in Daegu

Hanshin Engineering & Construction surpassed 1 trillion KRW in annual orders this year by consecutively winning maintenance projects in Changwon and Daegu.

Changwon Banwol District Redevelopment Maintenance Project Site (Photo by Hanshin Engineering & Construction)

On the 27th, Hanshin Engineering & Construction announced that it was selected as the construction company for the Banwol District redevelopment maintenance project in Changwon and the Aengdu reconstruction maintenance project in Daegu.

With consecutive orders from regional areas, Hanshin Engineering & Construction achieved 1.1 trillion KRW in annual orders, entering the '1 trillion club' for urban maintenance project orders.

This year, Hanshin Engineering & Construction was selected as the construction company for ▲ Nakmin 1 District street housing maintenance project (March) ▲ Woosung 4th Apartment street housing maintenance project (August) ▲ Siheung-dong Hyundai Apartment reconstruction maintenance project (August) ▲ Haengsin 2-1 District housing reconstruction maintenance project (September) ▲ Cheongju Samo 2 District redevelopment maintenance project (October).

The backlog of urban maintenance project orders also exceeded 2 trillion KRW. As of the third quarter of this year, Hanshin Engineering & Construction's secured order backlog (based on disclosure) is approximately 5.3 trillion KRW, of which about 35% is from urban maintenance projects. This represents a 9% increase compared to the same period last year.

Urban maintenance projects have low unsold inventory risk and allow securing cash liquidity through sales revenue, making them stable from the perspective of construction companies. Compared to self-developed projects, they carry less risk and have relatively long project durations, which reduces financial risk, according to Hanshin Engineering & Construction.

A representative from Hanshin Engineering & Construction said, "As a result of our efforts to stabilize project risks by focusing on winning maintenance projects, we have secured a backlog of urban maintenance project orders. We expect future sales and operating profits to improve by securing orders for urban maintenance projects centered on the metropolitan area and station areas with good profitability and location."

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