Doosan Construction and Hanyang Consortium Win Bid for Bugae 4 District Redevelopment in Bupyeong, Incheon

by Roh Kyungjo

Published 02 Dec.2024 18:24(KST)

Doosan Construction announced on the 2nd that it has been selected as the contractor for the Bugae 4 District Housing Redevelopment Project in Bupyeong-gu, Incheon.

Redevelopment master plan of Bugae 4 District, Bupyeong-gu, Incheon / Image courtesy of Doosan Engineering & Construction

The Bugae 4 District redevelopment project involves constructing apartments and ancillary welfare facilities consisting of 13 buildings with 1,299 households, ranging from 2 basement floors to 25 above-ground floors, on site 13-5, Bugae-dong, Bupyeong-gu. The total contract amount is 307.1 billion KRW, won by a consortium formed by Doosan Construction and Hanyang. The share ratio between the two companies is 60% for Doosan Construction and 40% for Hanyang.

Bugae 4 District is located near Gulpocheon Station on Subway Line 7, and is adjacent to the Metropolitan Area 1st Circular Expressway and Gyeongin Expressway, offering excellent transportation convenience. Metropolitan transportation network projects such as the GTX (Great Train Express) Line B are also underway. Within walking distance are Bugwang Elementary and Middle Schools, Bupyeong Middle and High Schools, and nearby are Sangdong Lake Park and the theme park Woongjin Playdoci. Construction and sales are scheduled to begin in the first half of next year.

As of the first half of this year, Doosan Construction achieved 1 trillion KRW in orders for the first time in 10 years, and expects new orders of 3 trillion KRW and an order backlog of about 10 trillion KRW by the end of the year. The consortium partner Hanyang recorded new orders of 2.6 trillion KRW this year, with an order backlog of approximately 6.8 trillion KRW.

A Doosan Construction official said, "We are making great efforts to develop products that customers want and to differentiate ourselves in order to strengthen brand competitiveness," adding, "We are pleased that our recent efforts seem to be recognized both internally and externally. We will enhance the satisfaction of the union members through thorough quality control and sincere construction."