Daewoo Engineering & Construction Selected as Contractor for Sinheung District 3 Redevelopment

Daewoo Engineering & Construction announced on December 1 that it has been selected as the contractor for the Seongnam Sinheung District 3 public participation redevelopment project. The project involves the construction of a total of 3,584 apartment units and auxiliary facilities, with a contract value of 1.2687 trillion won (excluding VAT).

The company has proposed the new apartment complex name as "Prugio Magnus Park." The original plan of 35 buildings has been adjusted to 24 buildings, improving the distance between buildings and the views. By easing height restrictions, the company secured a higher floor area ratio and planned a skyline with buildings up to 35 stories tall. The top floor will feature shared facilities offering a 360-degree panoramic view. Sinheung District 3 is located near Subway Line 8, providing convenient access to major business districts such as Gangnam, Pangyo, and Wirye, and is well-equipped with various living infrastructure.

The company’s cumulative urban redevelopment project orders for this year have reached 3.7727 trillion won. With a selective order strategy focused on key areas in the Seoul metropolitan region such as Gangnam, Yongsan, and Dangsan, the company has secured contracts at nine sites this year. Daewoo Engineering & Construction stated that it plans to continue its bidding activities next year, focusing on core areas in Seoul such as Seongsu and Gangnam.

Perspective view of Prugio Magnus Park Signature. Provided by Daewoo E&C