Hanwha Construction Division and Daewoo E&C Win Shindaebang Station Area Redevelopment Project Worth 580 Billion Won

The Hanwha Construction Division-Daewoo Engineering & Construction Consortium has been selected as the contractor for the Shindaebang Station area redevelopment project.

According to the redevelopment industry on April 27, the residents' representative meeting for the Shindaebang Station area redevelopment project finalized the Hanwha-Daewoo consortium as the contractor through a general assembly of members held on April 25. This marks the Hanwha Construction Division’s first contract win of the year.

Aerial view of Forena Prugio Boramae, the Shindaebang Station Area Redevelopment Project by Hanwha Construction Division and Daewoo Engineering & Construction Consortium. Provided by Hanwha Construction Division.

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The Shindaebang Station area redevelopment project will be carried out in Shindaebang-dong, Dongjak-gu, Seoul, covering a land area of 58,747 square meters. The plan calls for eleven apartment buildings ranging from seven basement levels to twenty-nine stories above ground, comprising a total of 1,586 units. The total construction cost amounts to 581.7 billion won. The complex is located near Line 2’s Shindaebang Station, and the planned Sinansan Line, making it a prospective double-station area in the future. The tentative name for the complex is ‘Forena Prugio Boramae.’

The Hanwha-Daewoo consortium minimized the individual financial burden by revising the original design to add 61 more units. The consortium also explained that their efficient alternative design and specialized features to enhance product value received high marks during evaluation.

The two companies plan to develop Forena Prugio Boramae (tentative name) as a resort-style residential space, offering both relaxation and leisure through a central courtyard and theme park. They have also increased resident satisfaction by orienting 95% of the units to face south and raising the proportion of plate-type layouts to comprise a total of ten different floor plans.

A representative from Hanwha Construction Division stated, “Based on the construction experience of Hanwha Construction Division and Daewoo Engineering & Construction, we plan to execute the project without any setbacks,” adding, “Through this, we aim to complete the complex as a landmark representing the key hub of southwestern Seoul.”

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