Daewoo E&C Wins Consecutive Redevelopment Projects in Yongin and Mapo, Surpassing 2 Trillion Won in Cumulative Orders This Year

This Year’s Major Wins Include Sajik District 4 and Sinimun Station Area Redevelopment Projects

Daewoo Engineering & Construction announced on April 6 that it has been selected as the contractor for the Giheung District 1 redevelopment project in Yongin, Gyeonggi Province.

The project involves building seven apartment buildings with 783 units, ranging from two basement levels to 39 stories above ground, with a construction cost of 255.3 billion won. Yongin is currently promoting redevelopment projects in 26 apartment complexes across the area, and Giheung District 1 is the fastest-moving among them. Daewoo Engineering & Construction, leveraging its experience of supplying 13,845 units in 20 complexes in Yongin alone, has presented a plan to establish the complex as a regional landmark. The proposed name for the complex is "Giheung Station Prugio Masterpiece."

Bird's-eye view of Giheung Station Prugio Masterpiece in the redevelopment of Giheung District 1. Provided by Daewoo Engineering & Construction

The company also secured the contract for Seongsan Moa Town District 3 in Mapo-gu, Seoul. This project consists of constructing six apartment buildings with 480 units, ranging from five basement levels to 29 stories above ground, with a construction cost of 189.3 billion won. The Moa Town model is a redevelopment method that consolidates low-rise residential areas that are difficult to redevelop individually. Daewoo Engineering & Construction had previously won the contract for Seongsan Moa Town District 1 as well. With apartment reconstruction and other redevelopment projects being promoted simultaneously in the surrounding area, the district is expected to transform into a residential town with over 8,000 units in the future. The proposed name for this newly awarded complex is "Mapo Prugio Tres Royal."

With these two additional contracts, Daewoo Engineering & Construction's cumulative redevelopment orders so far this year have increased to 2.2525 trillion won. The company has continuously won major projects, including the redevelopment of Sajik District 4 in Busan in January, the Seoul Sinimun Station area urban redevelopment project in February, and the reconstruction of Gojan Yeonrip District 5 in Ansan in March.

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