Hyundai Engineering Wins Contract for 'Oryudong Hyundai Yeonrip' Housing Reconstruction and Maintenance Project

New Construction of 445 Units in 12 Residential Buildings from Basement 4 to 15 Floors, 166 Units for General Sale
Double Station Area, Adjacent to Planned Elementary, Middle, and High Schools, Offering Excellent Transportation and Educational Infrastructure

Perspective view of the redevelopment of Hyundai Yeonrip in Oryudong.

[Asia Economy Reporter Kangwook Cho] Hyundai Engineering has secured its first urban maintenance project of the year, the Oryu-dong Hyundai Yeonrip Housing Reconstruction Maintenance Project.

According to industry sources on the 13th, Hyundai Engineering was selected as the final construction company at the 'Oryu-dong Hyundai Yeonrip Housing Reconstruction Maintenance Project' contractor selection general meeting held on the 12th.

The Oryu-dong Hyundai Yeonrip Housing Reconstruction Maintenance Project is a project to build 445 apartment units and ancillary welfare facilities in 12 buildings ranging from 4 basement floors to 15 above-ground floors on a 23,319m² site at 156-15 Oryu-dong, Guro-gu. The construction scale is approximately 146.9 billion KRW.

In particular, 166 of the 445 units are planned for general sale, and most of the general sale units consist of medium to large-sized units, which have recently become popular among actual buyers.

'Oryu-dong Hyundai Yeonrip' is a complex originally built as housing for Hyundai Group employees. It is especially regarded as a prime location boasting excellent transportation and educational infrastructure.

It has a double station area location with Line 1 Oryu-dong Station and Line 7 Cheonwang Station, and easy access to major roads such as Seobu Expressway and Nambu Beltway, facilitating metropolitan transportation networks. Additionally, Oryu Nam Elementary School and Onam Middle School are nearby, and a high school is planned to be built near the complex in the future, providing convenient educational infrastructure with elementary, middle, and high schools all adjacent.

A Hyundai Engineering official said, "Winning the Oryu-dong Hyundai Yeonrip Housing Reconstruction Maintenance Project externally proves our competitiveness in urban maintenance projects and symbolically represents our undertaking the reconstruction of former Hyundai Group employee housing, making it a very meaningful project for us in many ways." He added, "We will mobilize all our housing construction capabilities to supply a landmark complex in the southwestern Seoul area that lives up to the value of the 'Hillstate' brand."