DL E&C Signs Construction Contract for Jungdong District 5 Redevelopment and Maintenance Project
On December 9, DL E&C announced that it had signed a construction contract for the Jungdong District 5 Redevelopment and Maintenance Project. The contract amount is 540,142,906,000 won, which accounts for 6.49% of the company’s most recent revenue of 8,318,442,435,057 won.
The counterparty to the contract is the Jungdong District 5 Redevelopment and Maintenance Project Association, and the construction will take place at 70, Jwadong Sunhwan-ro 468beon-gil, Haeundae-gu, Busan Metropolitan City. The contract period is 41 months from the actual commencement date, with no contract deposit or advance payment. The payment will be made from proceeds such as sales revenue.
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The project includes the construction of seven apartment buildings (from three basement levels to 37 above-ground floors) and ancillary welfare facilities. The contract amount and period are subject to change depending on the progress of the construction.
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