Ulsan Eonyang Cheonggu Garden Apartment Small-scale Housing Reconstruction Project Finalizes 'Hanyang Construction Co., Ltd.' as Contractor

On June 26, it was announced that Hanyang Construction Co., Ltd. was selected as the contractor at the general meeting for the selection of the contractor for the small-scale housing reconstruction project of Ulsan Cheonggu Garden Apartment.

The association highly evaluated Hanyang Construction Co., Ltd. for its low debt ratio, stable credit rating, and recent increase in business performance, leading to its selection. In particular, Hanyang Construction is leading the supply market in Ulsan by preparing 633 officetel units as its own project on the S3 site near the Ulsan KTX station adjacent to the project site.

The Eonyang Cheonggu Garden Apartment small-scale housing reconstruction project is a multi-family residential complex (apartment) with a total floor area of 9,495 pyeong, consisting of 2 basement floors to 25 above-ground floors, and will include 233 apartment units and auxiliary welfare facilities. It is located adjacent to Eonyang-eup, with established education, transportation, and convenience facilities.

Within a 10-minute drive are the KTX Ulsan Station and the Gyeongbu Expressway Seoul San IC, making it an area with excellent access to metropolitan transportation. Nearby elementary and middle schools provide good educational conditions, and with few new general supply projects, it is expected to attract significant attention. Following the completion of the contractor selection, procedures such as architectural review, appraisal, member sales application, and project implementation plan approval will be carried out, with demolition scheduled to begin in February 2022 and full-scale construction to start in May 2022.

Hanyang Construction Co., Ltd., established in 1988 and boasting over 30 years of tradition, plans to apply its own housing brand, Hanyang LEEPS. LEEPS is a compound word of Living, Energy, Environment, People, and Smart system, symbolizing the creation of a comfortable living environment through energy savings via advanced smart systems and eco-friendly building materials.

Hanyang Construction Co., Ltd. is conducting about 10 projects with approximately 3,000 units under the Hanyang LEEPS brand in Ulsan, including Hogye 1 and 2 phases (672 units), Deokha (572 units), Jungsan (376 units), Daun (401 units), Onyang Bali (442 units), Ujeong-dong (537 units), Jinha (525 units), and the Ulsan KTX Station S3 site (own project), establishing itself as a landmark and leading apartment developer in Ulsan.