Dongbu Construction Wins 109.1 Billion KRW Contract for LH Namwonju Station Area Apartment Complex and Others

[Asia Economy Reporter Ji Yeon-jin] Dongbu Construction announced on the 3rd that it has won a construction contract worth 109.1 billion KRW from the Korea Land and Housing Corporation.

The project involves the Namwonju Station Area A-3BL in Musil-dong, Wonju-si, Gangwon-do, and the integrated private participation public housing construction project RM-5BL in the new city of Chungnam Provincial Government (Naepo) in Hongbuk-myeon, Hongseong-gun, and Sapgyo-eup, Yesan-gun, Chungcheongnam-do.

The contract period is until December 31, 2024, and the contract amount is Dongbu Construction's equity share of the total project cost.

The private participation public housing construction project is a joint project promoted by a consortium formed by LH and private construction companies, where public institutions provide the land, private construction companies build and sell the housing, and the sales revenue is mutually distributed according to the investment shares in this public-private joint project model.