Dongbu Construction Secures Gaepo Hyundai 4th Street Housing Maintenance Project in Gangnam with 'Centerville' Brand

Dongbu Construction has been officially selected as the contractor for the 'Gaepo Hyundai 4th Street Housing Maintenance Project' in Irwon-dong, Gangnam-gu, Seoul.

Dongbu Construction announced on the 21st that it was chosen as the contractor at the contractor selection general meeting held on the 19th, securing 114 out of a total of 122 votes.

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The site is expected to be transformed into a luxury residential complex with 178 units in total, spanning from four basement levels to 28 above-ground floors. The total construction cost is 100.1 billion won, and Dongbu Construction plans to apply its high-end brand, 'Centerville Asterium,' to the project.

Gaepo Hyundai 4th is an aging complex completed in 1987, boasting excellent transportation accessibility due to its proximity to major roads such as Gaepo-ro and Yangjae-daero, as well as the Seoul Subway Bundang Line and Line 3 (Daemosan Entrance Station, Daecheong Station, Suseo Station). In addition, the area is recognized as a prime location in Gangnam thanks to its dense living infrastructure, including Daecheong Elementary School, Jungdong High School, the Daechi academy district, the Irwon-dong hospital district, and the Gaepo commercial district.

A representative of the Gaepo Hyundai 4th association stated, "This site is at the very core of Gangnam, a high-end residential area where major construction companies are fiercely competing," and added, "Dongbu Construction's 'Centerville Asterium' is expected to inject new vitality into the luxury housing market in the area."

Dongbu Construction attributed its successful bid to its experience constructing luxury residential complexes in key areas of Seoul, such as Daechi Centerville, and the continued success of the 'Centerville Asterium' brand. The company also cited its capabilities in differentiated design and finishing materials, as well as construction stability, as core competitive advantages. Having secured a premium residential project portfolio in the Gangnam area, Dongbu Construction plans to further expand the presence of the 'Centerville Asterium' brand, focusing on key areas of Seoul. In the first half of the year, Dongbu Construction recorded 600 billion won in orders from urban redevelopment projects within Seoul.

A Dongbu Construction official commented, "Centerville Asterium is creating new value in premium residential living in terms of location, design, quality, and community," and added, "Through the Gaepo Hyundai 4th maintenance project, we will once again prove the prestige of the Centerville Asterium brand."

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