Hyundai Engineering Wins Reconstruction and Maintenance Project for Banghwa 3 District in Gangseo-gu
by Sim NaYoung
Published 24 Nov.2024 10:55(KST)
Selected as the Final Contractor for 'Banghwa 3 District Reconstruction Maintenance Project' on the 23rd
Supplying a Total of 1,476 Apartment Units in 28 Buildings
Achieved Cumulative Urban Maintenance Project Orders of 1.1383 Trillion Won This Year
Hyundai Engineering announced that it was selected as the final contractor at the 'Banghwa 3 District Reconstruction and Maintenance Project Contractor Selection General Meeting' held on the 23rd.
The 'Banghwa 3 District Reconstruction and Maintenance Project' is a project to construct apartments and ancillary welfare facilities consisting of 28 buildings with 1,476 households, ranging from 4 basement floors to 16 above-ground floors, in the Banghwa Redevelopment Promotion Zone, Gangseo-gu, Seoul. The total contract amount is approximately 692 billion KRW, and Hyundai Engineering and Hyundai Construction formed a consortium to win the bid. Each company's share is 50% (346 billion KRW) respectively.
Through this contract, Hyundai Engineering has surpassed 1 trillion KRW in urban maintenance orders this year. Starting with the remodeling project of Seogwang Apartment in Samseong-dong, Gangnam-gu in August, it consecutively won the Sadang 5 District Housing Reconstruction and Maintenance Project in Dongjak-gu in September, and the Gojan Yeonrip 2 District Reconstruction and Maintenance Project in Ansan City on the 17th, continuing its winning streak in the second half of the year. Including the Banghwa 3 District Reconstruction and Maintenance Project, the cumulative order amount for urban maintenance projects this year reached 1.1383 trillion KRW.
In particular, the Hyundai project team plans to complete Banghwa 3 District as a landmark representing Gangseo by applying a specialized exterior design in collaboration with the global design firm smdp. smdp is a prestigious architectural firm that designed Nine One Hannam in Yongsan-gu, Seoul, and Acro Forest in Seongdong-gu, Seoul.
A Hyundai Engineering official stated, “Once the development of the nearby districts is completed, Banghwa 3 District is expected to emerge as a new residential area linked with the Magok district,” adding, “This contract will strengthen our competitiveness in maintenance projects and serve as an important foothold to secure additional major projects in the Seoul area in the future.”
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