Cumulative Orders for Urban Maintenance Projects Expected to Reach 720 Billion KRW This Year
Jungheung Construction Group announced on the 29th that it has consecutively won urban redevelopment projects in Wolgye-dong, Nowon-gu, Seoul, and Ganeung-dong, Uijeongbu.
The 'Wolgye-dong Reconstruction Maintenance Project,' for which Jungheung Construction Group was selected as the contractor on the 27th, is a project to build apartments consisting of 5 buildings with a total of 355 households, ranging from 2 basement floors to 20 above-ground floors, in the area of 487-17 Wolgye-dong, Nowon-gu. The contract amount is approximately 67 billion KRW, and the project is being promoted with the goal of starting construction in 2022.
On the same day, the group was also selected as the contractor for the 'Nokyang Station Area Ganeung-dong Street Housing Maintenance Project.' This project involves constructing apartments with 3 buildings and 203 households, ranging from 2 basement floors to 27 above-ground floors, in the area of 80-7 Ganeung-dong, Uijeongbu, with a contract amount of about 47.7 billion KRW.
Additionally, the group plans to secure the street housing maintenance project (198 households) in the adjacent area of 77-1 Ganeung-dong, Uijeongbu. Combined, this amounts to about 400 households with a total contract amount of approximately 95 billion KRW.
In October, Jungheung Construction Group also won contracts for ▲Bella Apartments Reconstruction in Songjeong-dong, Gumi-si ▲Sangnok Samik Serim Reconstruction in Hyoseong-dong, Gyeyang-gu, Incheon ▲Street Housing Maintenance Project in Wonjong-dong, Bucheon-si ▲Street Housing Maintenance Project in Ojeong-dong, Bucheon-si.
Jungheung Construction Group is expected to secure about 720 billion KRW worth of urban redevelopment projects this year, steadily achieving orders centered on small-scale reconstruction projects and street housing maintenance projects, in addition to medium-to-large scale redevelopment projects in the metropolitan area and provinces.
Song Jong-man, Executive Director of Urban Redevelopment Projects at Jungheung Construction Group, said, "We are focusing our capabilities on winning redevelopment projects nationwide, including Seoul and the metropolitan area. Since we are performing well in this year's bidding, we will strive to present highly satisfactory apartments in the future."
Meanwhile, Jungheung Construction Group established its Urban Redevelopment Business Division in 2015 and recorded contract amounts exceeding 1.1 trillion KRW in its first year. To date, it has recorded over 5 trillion KRW in urban redevelopment project contracts.
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