GS Construction Secures Consecutive Redevelopment Projects in Seoul and Busan Worth 1.7 Trillion KRW

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GS Construction has secured redevelopment project rights worth 1.7 trillion KRW in areas including Seoul and Busan since the beginning of the year.

According to the Financial Supervisory Service's electronic disclosure system on the 21st, GS Construction announced the day before that it was selected as the contractor for the public redevelopment maintenance project in Jungnang-gu, Seoul's Junghwa 5 district, worth 649.8 billion KRW. The construction amount corresponds to 4.84% of the consolidated sales in 2023. The project involves building apartments and ancillary welfare facilities consisting of 14 buildings and 1,610 households, ranging from 4 basement floors to a maximum of 35 floors above ground, at 122 Junghwa-dong, Jungnang-gu, Seoul. Construction will start in February 2029 and continue for 44 months.

GS Construction also recently won a contract for the redevelopment maintenance project in Suyeong 1 district, Busan, worth 637.4 billion KRW. The project involves building an apartment complex with 1,533 households at 484-1 Suyeong-dong, Suyeong-gu. The complex consists of 8 buildings ranging from 3 basement floors to a maximum of 42 floors above ground. Construction will proceed for 46 months from the start date.

On the 10th, GS Construction also secured a redevelopment construction contract worth 392.9 billion KRW in Manchon-dong, Suseong-gu, Daegu.

With GS Construction consecutively winning urban redevelopment project rights in the first month of the new year, the total order amount reached 1.6801 trillion KRW, equivalent to 12.5% of the consolidated sales in 2023.

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