Bando Construction Signs 59.1 Billion KRW Contract for 'Geojesi Okpodong Apartment Complex New Construction'

Perspective view of the apartment complex construction project in Okpo-dong, Geoje-si, awarded to Bando Construction on the 15th

[Asia Economy Reporter Donghyun Choi] Bando Construction has succeeded in securing its first contract of the Year of the Ox.

On the 18th, Bando Construction announced that it signed a contract on the 15th with Sigong Holdings for the construction of a multi-family residential complex in Okpo-dong, Geoje-si, Gyeongnam Province.

This project involves building four buildings with 292 households and neighborhood living facilities on site 238-2 in Okpo-dong, Geoje-si, consisting of 224 units of 84㎡ (exclusive area) and 68 units of 109㎡, ranging from two basement floors to 20 floors above ground. The units are scheduled for sale in April 2021, with a total construction cost of approximately 59.1 billion KRW.

A Bando Construction official stated, "This location is gaining attention as the most preferred residential area in Geoje-si due to the rising local shipbuilding industry and access to diverse living infrastructure," adding, "It will be recognized for its customer-centered specialized design and products of the upgraded ‘Bando Yubora’."

The Okpo area, where the project site is located, is the residential center of Geoje-si and a key residential area in the eastern Geoje region. Right in front of the complex is Lotte Mart, and it is adjacent to local commercial centers such as Okpo International Market and Okhyeon Market. Okpo Port is also within a 10-minute walking distance.

Geoje-si is attracting attention as the center of western Gyeongnam due to favorable developments such as the Geoje-Gimcheon Southern Inland High-Speed Railway (Western Gyeongnam KTX) scheduled to start construction in 2022, the Gadeokdo New Airport project, the extension of the Daejeon-Tongyeong Expressway (Geoje section), redevelopment of Gohyeon Port, and the creation of the Geoje Marine Plant National Industrial Complex. Additionally, the recent recovery of the shipbuilding industry following LNG ship orders is a positive factor.

Okpo Intercity Bus Terminal is located within a 3-minute walk, and 22 city bus routes pass near the project site. The area has convenient city transportation networks such as Geoje-daero, Okpo Daecheop-ro, and Okpo Jungang-ro. Through Songjeong IC, the wide-area transportation network connects to Geoga Bridge, Busan, Changwon, and Gimhae, making access to and from the city easy.

The educational environment is also well established. Okpo Elementary School is a 4-minute walk away, and Seongji Middle School is a 2-minute walk away. Nearby school districts within walking distance include Guksan Elementary, Okpo Middle, Okpo High, and Geoje High Schools. Residents can also enjoy nearby parks and green spaces such as Okpo Port Waterfront Park, Okpo Park, Okpo Daecheop Memorial Park, and Guksabong Hiking Trail.

Meanwhile, Bando Construction is preparing for sales nationwide in 2021, including in Changwon Gapotakse District, Yeongdeungpo in Seoul, Ochang Gak-ri in Cheongju, Namsan-dong in Daegu, and Godeok District in Pyeongtaek.