Hanyang, Order Rally from Early Year... Q1 Order Amount Approaches 1 Trillion Won

Cheonan, Hwaseong, and Asan Secure Housing Projects Worth 814 Billion KRW

Aerial View of Cheonan Pungse Site

[Asia Economy Reporter Ryu Tae-min] Hanyang has embarked on aggressive management by securing nearly 1 trillion KRW in orders since the beginning of the year.

According to Hanyang on the 2nd, the company recently won housing projects totaling 814.1 billion KRW in Cheonan and Asan, Chungnam, and Hyangnam, Hwaseong, Gyeonggi Province. As a result, including the 111.6 billion KRW Goheungman floating solar EPC (Engineering, Procurement, and Construction) project, Hanyang recorded nearly 1 trillion KRW in orders in its core housing and energy businesses in the first quarter alone.

The Cheonan project is a loan-type land trust project to build 3,200 apartment units in Pungse-myeon, Dongnam-gu, Cheonan City. The construction cost is approximately 534.2 billion KRW, with Kyobo Asset Trust responsible for financing.

The Hwaseong Hyangnam project is a 156 billion KRW managed land trust project. The housing construction scale consists of 11 buildings with 945 units, ranging from 2 basement floors to 27 above-ground floors.

In Asan, Hanyang secured a long-term private rental housing project. This project involves building 725 apartment units in Shindong, Asan City, which will be private rental housing allowing long-term residence for 10 years after completion. The contract construction cost is approximately 123.9 billion KRW.

Hanyang plans to diversify its order acquisition by moving away from the existing public land and contract-based order pattern in its core housing business to urban renewal, public bidding projects, and development projects, thereby securing high-quality orders.

A Hanyang official stated, "We plan to actively target urban renewal projects, public bidding projects through local governments, LH, and SH corporations, as well as private proposal-type development projects," adding, "We will also enter non-residential business sectors such as smart cities, logistics centers, and data centers to lay the foundation for sustainable future growth."