Dongbu Construction Wins 80 Billion KRW Mangwoo-dong Street Housing Redevelopment Project

by Lee Jieun

Published 12 Mar.2025 15:23(KST)

Construction of 192 Apartment Units in 3 Buildings

Dongbu Construction has won the contract for the street housing redevelopment project in the Mangwoo-dong area of Jungnang-gu.

On the 12th, Dongbu Construction announced that it had secured the street housing redevelopment project at 509-1 Mangwoo-dong, Jungnang-gu.

Perspective view of the Garoju-taek Housing Redevelopment Project at 509-1 Mangwoo-dong. Provided by Dongbu Construction

The project site is expected to feature 192 apartment units across three buildings ranging from two basement floors to 18 above-ground floors. The construction cost is approximately 80 billion KRW, and the construction period is about 30 months from the start date. Previously, Dongbu Construction had won the redevelopment project for Jangmi Apartments in Muk-dong, Jungnang-gu last year.

The project site is evaluated as an area with excellent residential infrastructure, being adjacent to convenience facilities and educational institutions such as schools. It is a double station area within walking distance of Mangwoo Station on the Gyeongui-Jungang Line and Sangbong Station on Line 7, with the opening and development of GTX-B Sangbong Station and a complex transfer center planned. Development benefits such as Sangbong Terminal and the E-mart site also contribute to its high future value.

Dongbu Construction plans to expand the Centreville brand throughout the Jungnang-gu area through continuous contract wins.

A Dongbu Construction official stated, "We plan to actively pursue redevelopment project contracts this year by selecting excellent projects with good business feasibility, leveraging Centreville's differentiated competitiveness."