Halla "Won 108.5 Billion Contract for Ulsan Local Housing Association Apartment Construction"

[Asia Economy Reporter Kim Yuri] Hanla announced on the 29th that it has won a contract worth approximately 108.5 billion KRW for the 'Ulsan Ujeong-dong Regional Housing Association Apartment New Construction Project.'

Hanla disclosed on the same day that it signed a contract for the new construction of regional housing association apartments commissioned by the Ulsan Ujeong-dong Regional Housing Association. The project site is located at 274-60 Ujeong-dong, Jung-gu, Ulsan. The project involves constructing a total floor area of 90,443.67㎡, including 530 apartment units (5 buildings, 2 basement floors to 29 above-ground floors) and auxiliary welfare facilities. Of the total 530 units, 440 are allocated to association members, and 90 are for general sale. Hanla explained that with about 83% of the units allocated to association members, the project’s stability is relatively guaranteed. Construction is scheduled to begin in November, with sales planned, and after a construction period of 34 months, move-in is expected in August 2023.

The Ulsan Ujeong-dong Regional Housing Association Apartments are located in the central area of Jung-gu, Ulsan, which is rich in living infrastructure such as schools, parks, culture, finance, and medical facilities. The company expects the residential environment to improve further due to the redevelopment of nearby old housing (Jung-gu B-04·05 district redevelopment). Accessibility within the region is convenient via National Route 31 and the Northern Ring Expressway, and there is a bus stop served by 10 bus routes. Nearby schools include Yangsa Elementary School, Yugok Middle School, Wolpyeong Middle School, Hamwol High School, and Ulsan Jungang High School.

Meanwhile, Hanla successfully sold the Gimhae Samgye Dugok and Gimhae Northern Hanla Vivaldi apartments last year. At the end of last year, it won the contract for the Yongin Yeoksam regional housing apartment, with general sales planned for the second half of this year. The Bupyeong Station Hanla Vivaldi Treviang (Bupyeong Magnolia Apartment Housing Redevelopment Project), which Hanla won and launched sales for earlier this month, attracted 13,351 applicants for 53 general sale units (an average subscription competition rate of 252 to 1), becoming a hot topic.

A Hanla official said, "We have gained trust in the association apartment, redevelopment, and reconstruction markets by offering reasonable construction costs and excellent project conditions," adding, "We will repay this trust with sincere construction."