Isu Construction "Wins 124.4 Billion KRW Street Housing Maintenance Project in Seoknam-dong, Incheon"

[Asia Economy Reporter Yuri Kim] Isu Construction announced on the 26th that it has won the contract for the street housing maintenance project in the area of 494 Seoknam-dong, Seo-gu, Incheon, worth 124.4 billion KRW.

Isu Construction stated that it was selected as the construction company for this project through a vote at the general meeting of association members held on the 23rd. Through this project, Isu Construction will build on a 7,590.3㎡ site in Seoknam-dong, Seo-gu, Incheon, consisting of two apartment buildings with 348 households, one officetel building with 140 units, and neighborhood living facilities, with 5 basement floors and 32 to 36 floors above ground. Construction is scheduled to start in 2022 and will proceed over 36 months.

Isu Construction expects to benefit from the revitalization of the commercial district around Seoknam Station due to increased foot traffic. A company official said, "When Seoul Subway Line 7 is extended and opened next year, a complex transfer center aimed at creating a hub connected by double station areas will be established," adding, "The generalization project of the Gyeongin Expressway is expected to resolve the development hindrance caused by the urban disconnection between the eastern and western parts of Incheon that has lasted for the past 50 years, improving transportation conditions and the surrounding environment."

With this project, Isu Construction will create the Brownstone large complex encompassing 1,133 households around Seoknam Station. This is because it is adjacent to the Incheon Lotte Uram Reconstruction Project (4 basement floors to 29 floors above ground, five apartment buildings with 511 households, one officetel building with 134 units) won by Isu Construction in 2017. The company stated that since the area is equipped with living infrastructure such as six nearby elementary, middle, and high schools, Homeplus, Geobuk Market, and Wonjeoksan hiking trail, expectations for future value appreciation are high.

An Isu Construction official said, "We will create a harmonious residential complex that blends urban life and nature to make a landmark in the Seoknam-dong area," adding, "Through this, we will solidify Isu Construction's position."