Daelim Industrial and Daelim Construction Jointly Win Samsung 1 District Project

Daelim Industrial Secures Urban Renewal Projects Worth 922.7 Billion KRW This Year

[Asia Economy Reporter Onyu Lim] Daelim Industrial has secured urban redevelopment projects worth a total of 384 billion KRW in Incheon and Daejeon. Daelim Industrial has recorded a total of 922.7 billion KRW in urban redevelopment project contracts this year.

Daelim Industrial announced on the 13th that it was selected as the construction company for the Daejeon Samsung 1 District redevelopment project on the 11th, forming a consortium with Daelim Construction. This project involves constructing 1,612 apartment units, 210 officetels, and retail facilities from 4 basement floors to 49 above-ground floors in the area of 279-1, Samsung-dong, Dong-gu, Daejeon. The total construction cost is 395.1 billion KRW, with Daelim Industrial’s share being 217.3 billion KRW. This is the first time Daelim Industrial is carrying out construction in a consortium with Daelim Construction. Daelim Construction was launched on the 1st through the merger of Samho and Goryeo Development, construction affiliates of the Daelim Group.

On the same day, Daelim Industrial was also selected as the construction company for the Incheon Sipjeong 5 District redevelopment project by forming a consortium with GS Construction and Doosan Construction. This project, promoted as a public-supported private rental linked redevelopment project, will develop 2,217 apartment units and auxiliary welfare facilities from 3 basement floors to 33 above-ground floors in 460-22, Sipjeong-dong, Bupyeong-gu, Incheon. The total contract amount is 416.8 billion KRW, with Daelim Industrial’s share being 166.7 billion KRW.

Meanwhile, on the 7th, Daelim Industrial signed a contract for a regional housing association project in Songdo, Busan, apart from urban redevelopment projects. The contract amount is 246.6 billion KRW. This project involves constructing 1,302 apartment units from 6 basement floors to 34 above-ground floors in 419, Amnam-dong, Seo-gu, Busan, with construction scheduled to start in September this year.