Busan Gwangan Regional Housing Association 90 Billion Won Project Awarded to Bando Construction

Busan Gwang-an Area Housing Project Bird's-eye View

Bando Construction announced on the 6th that it has secured a 90 billion KRW project for the Busan Gwang-an Regional Housing Association as its first urban renewal project of the year.

The Busan Gwang-an Regional Housing Association project involves constructing seven buildings ranging from three basement floors to 29 above-ground floors, with 525 units and neighborhood living facilities, on site 971, Gwang-an-dong, Suyeong-gu, Busan Metropolitan City. The total construction cost is approximately 90.8 billion KRW. The project will feature small to medium-sized units ranging from 59 to 84 square meters, which are highly preferred by consumers, with construction scheduled to begin in December and completion expected in October 2024.

The project site is located in a double transit station area, with Mangmi Station on Busan Subway Line 3 just a 5-minute walk away, and Suyeong Station, where Lines 2 and 3 intersect, an 8-minute walk away. For vehicle users, access to downtown and outskirts is convenient via nearby Beonyeong-ro, Gwang-an-daero, and Jangsan-ro. Geumryeonsan Mountain is located directly opposite the complex, and the Suyeong Riverside, Gwang-an Beach, and Suyeong Historic Park are all within 2 km, providing access to waterfront and green spaces. The educational environment is also favorable, with Sumi Elementary School and Suyeong Elementary School within a 5-minute walk, and Gwang-an Middle School, Dongsuyeong Middle School, and Deokmun Girls' High School nearby.

Following its success in securing the reconstruction project for Dongseong Apartment in Bucheon last December, Bando Construction is receiving positive evaluations for signaling a green light in the urban renewal sector by consecutively winning the Busan Gwang-an Regional Housing Association project.

Since 2017, amid the absence of public land, Bando Construction has been diversifying its business by pursuing various projects beyond its core housing business, including private land development, urban renewal projects, small-scale development projects in the metropolitan area, auctioned land and commercial facility development projects.