Daewoo Industrial Development Secures Order for 1,347 Units in Gimhae Jangyu New Town Regional Housing Association

▲ Perspective view of the apartment complex by the Jangyu New Town Regional Housing Association in Gimhae-si, Gyeongnam (Provided by Daewoo Industrial Development)

[Asia Economy Reporter Chunhee Lee] Daewoo Industrial Development has succeeded in securing an order for 1,347 housing units in the Jangyu New Town regional housing association in Gimhae City, Gyeongnam Province, with a project cost of 200 billion KRW.

Daewoo Industrial Development announced on the 19th that it has signed a contract for the construction of apartment complexes 1 and 2 of the Jangyu Regional Housing Association in Gimhae City. The complexes will be built on Sammun-dong 900, Gimhae City, consisting of 17 buildings ranging from 3 basement floors to 24 floors above ground, totaling 1,347 units. The units will be supplied with exclusive areas ranging from 59 to 84 square meters, of which 336 units will be available for general sale. The construction period is scheduled to be 35 months.

Jangyu New Town, developed as a replacement for the aging old downtown area within Gimhae City, is evaluated as having easy access to the Changwon area and well-established living infrastructure. Educational facilities such as elementary, middle, and high schools are located near the project site, and the area has a well-formed academy district. Large marts and movie theaters, among other convenience facilities, are also nearby.

A representative from Daewoo Industrial Development stated, "Based on the know-how accumulated from promoting regional housing association projects, we plan to carry out the project successfully," adding, "With our solid technical skills and differentiated product design, we will make it a landmark complex in the Gimhae area."

Meanwhile, Daewoo Industrial Development plans to supply a total of 3,697 apartment units and 380 officetel units across five complexes this year. In addition to the Jangyu Regional Housing Association apartments, these include the mixed-use residential complex 'Ian Nonhyeon Ocean Park' in Nonhyeon-dong, Namdong-gu, Incheon (294 apartment units and 380 officetel units), the Hyundeok Regional Housing Association apartments in Pyeongtaek City, Gyeonggi Province (610 units), the Dongin 3-1 district housing redevelopment in Daegu (630 units), and the Buchang district housing redevelopment in Cheonan City, Chungnam Province (816 units).