Halla "Won 140.8 Billion Contract for Gwangyang Regional Housing Association Apartment Construction"

[Asia Economy Reporter Yuri Kim] Hanra announced on the 26th that it has won a contract worth approximately 140.8 billion KRW for the 'Gwangyang Hwanggeum Residential District 26-1 Block Housing Association Apartment New Construction Project.'

This project, commissioned by the housing association of Gwangyang Hwanggeum Residential District 26-1 Block, is located in 26-1 Block of Hwanggeum District, Gwangyang-si, Jeollanam-do. It involves constructing a total floor area of 122,446㎡, 772 apartment units (6 buildings, 2 basement floors to 29 above-ground floors), and auxiliary welfare facilities. Of the total 772 units, 541 are allocated to association members, and 231 are for general sale. Construction is scheduled to start in March 2021, with sales planned, and after a 33-month construction period, move-in is expected in December 2023.

The company stated that the site is adjacent to a planned school site and park, making it the top-tier location within the Hwanggeum District. As the project is carried out in a residential district with 100% land acquisition secured, stable project progress is possible. Hanra said, "With development benefits such as the Gubongsan Tourist Complex, successful sales are expected."

A Hanra representative said, "We have gained trust in the housing association apartment, redevelopment, and reconstruction markets by offering reasonable construction costs and excellent project conditions. Currently, we are negotiating and progressing multiple projects in Seoul, the metropolitan area, and other major cities, and we expect an increase in housing association project orders."