[Asia Economy Reporter Ryu Tae-min] Hanyang announced on the 20th that it has won the contract for the construction of youth housing near Noryangjin Station in Seoul. Seoul's transit-oriented youth housing project supplies public and private rental housing in transit areas with high residential demand, supported and provided by the Seoul Metropolitan Government.
The Noryangjin transit-oriented youth housing project won by Hanyang will be constructed by redeveloping the KT Noryangjin Branch building located opposite Noryangjin Station, where Seoul Subway Lines 1 and 9 intersect. It will be built with a total floor area of 37,759㎡, spanning from 8 basement floors to 27 above-ground floors. The complex will include 496 apartment units and neighborhood living facilities.
The construction period is approximately 38 months, with groundbreaking scheduled for November 2023 and completion targeted for December 2026. The construction cost is about 63 billion KRW.
A Hanyang official stated, "Since the rebranding of the Sujain brand last July, we have been strengthening our competitiveness in the housing business. Based on this, we are making efforts to diversify our contract channels, including small-scale urban renewal projects and public bidding projects."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
