[Asia Economy Reporter Choi Dong-hyun] Bando Construction announced on the 11th that it plans to supply a total of 7,347 households this year across 11 project sites nationwide, including Seoul, Daegu, Changwon, Ulsan, Cheonan, and Cheongju.
This year marks the 50th anniversary of Bando Construction. Looking at the supply volume, various project types stand out, including not only housing projects in residential land development districts but also urban renewal projects and knowledge industry centers. Bando Construction has been preparing a broad portfolio in line with market changes, moving beyond its traditional focus on general housing projects, and plans to steadily promote its business through full-scale diversification.
The first sales project is expected to be ‘Seongsan Bando Yubora Ivy Park’ in Block Gong 1, Sapa District, Changwon City, in March. This large-scale project consists of 17 buildings ranging from 3 basement floors to 15 above-ground floors, with units sized 55 to 86㎡ (exclusive area), totaling 1,045 households. It is Bando Construction’s first entry into the Changwon area.
In April, ‘Seodaegu Station Bando Yubora Centum’ will be introduced in the area of 1083-2, Pyeongni 3-dong, Seo-gu, Daegu Metropolitan City. This project consists of 11 buildings ranging from 2 basement floors to 35 above-ground floors, with a total of 1,678 households sized 46, 59, 72, and 84㎡. It is a ‘Pyeongni 3-dong Housing Reconstruction Maintenance Project’ located at the center of West Daegu, equipped with development benefits such as the KTX Seodaegu Station (scheduled to open in 2021), Seodaegu Industrial Complex, as well as education and living infrastructure.
Next, in the first half of the year, the regional housing project ‘Ochang Gakri Bando Yubora (tentative name)’ will be supplied in Cheongju. This complex consists of 7 buildings ranging from 4 basement floors to 25 above-ground floors, with 572 apartments sized 59 to 84㎡ in the Gakri area of Ochang-eup, Cheongju City, Chungcheongbuk-do. Separate comprehensive sports facilities and retail facilities will also be established.
The last supply in the first half is expected to be the ‘Ujeong-dong Regional Housing Association Mixed-use Complex’ at 286-1 Ujeong-dong, Jung-gu, Ulsan. The ‘Ujeong-dong Bando Yubora (tentative name)’ complex consists of 3 buildings ranging from 7 basement floors to 49 above-ground floors, comprising 455 apartments of 84㎡ and 40 officetel units. It is a new high-rise mixed-use complex project with a view of the Taehwa River in Ulsan.
In the second half of the year, sales will continue in the Seoul metropolitan area and other provinces. The redevelopment project ‘Seodaemun Yeongcheon Bando Yubora (tentative name)’ will be supplied in the area of 69-20 Yeongcheon-dong, Seodaemun-gu, Seoul. This complex consists of 199 apartments sized 59 to 143㎡ and 116 officetel units, ranging from 5 basement floors to 23 above-ground floors. This is Bando Construction’s first maintenance project in Seoul, and based on this, the company plans to accelerate orders for redevelopment and reconstruction projects in the Seoul metropolitan area.
In the area adjacent to Dasan New Town in Namyangju, Gyeonggi-do, the ‘Namyangju Jigeumdonong 2 District Urban Environment Maintenance Project’ will be supplied at 361 Gyeongchun-ro, Namyangju. This complex consists of 2 buildings ranging from 4 basement floors to 33 above-ground floors, with 194 apartments sized 47 to 67㎡.
In the provinces, plans include supplying 800 households of 84㎡ in the Wuseong Feed Site area of Dujeong-dong, Cheonan City; 955 households sized 60 to 85㎡ in Naepo New Town, Chungnam; 847 households sized 60 to 85㎡ in Gapho District, Changwon City; and 216 households in front of Banwoldang Station, Jung-gu, Daegu.
In addition to housing, the knowledge industry center ‘Bando Ivy Valley’ will also be supplied. It will be located in the area of 6-ga, Yeongdeungpo-gu, Seoul, and will include 206 knowledge industry center units, 24 office units, and neighborhood living facilities.
Meanwhile, this year Bando Construction will begin moving into a total of 1,342 households in two complexes in Wonju Enterprise City Blocks 1-2 and 2-2 starting this month, and will also proceed with move-ins for 4,558 households across seven sites including Anyang Myeonghak, Daegu National Industrial Complex (two complexes), Ilsan Hallyu World, and Seongnam Godeung District.
A Bando Construction official stated, “This year, various projects including urban renewal and knowledge industry centers are scheduled in addition to existing housing projects, marking the start of full-scale business diversification. We have prepared a broad portfolio in line with the changing real estate market and will do our utmost to overcome the sluggish real estate market.”
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