Lotte Construction Approaches 3 Trillion KRW in Cumulative Urban Renewal Project Orders This Year

Perspective view of the Imun 4 Redevelopment Promotion Zone Redevelopment Project recently awarded to Lotte Construction

Lotte Construction has surpassed a cumulative order amount of 2.7 trillion KRW in urban renewal projects in the first half of this year, bringing it close to achieving 3 trillion KRW.

Recently, Lotte Construction secured the 'Imun4 Redevelopment Promotion Zone Redevelopment Project,' reaching a total cumulative order amount of 2.7406 trillion KRW in urban renewal projects this year. This marks three consecutive years of recording over 2 trillion KRW in urban renewal project orders.

In just the first half of this year, it exceeded last year's total cumulative order amount of 2.2229 trillion KRW, ranking first in the industry for urban renewal project orders in the Seoul area. Among these, the order amount for urban renewal projects in the Seoul area is 2.0096 trillion KRW, with 7 out of the 9 complexes secured so far located in Seoul.

The effect of establishing a dedicated remodeling department last December is also becoming evident. The Seonsa Hyundai remodeling project, jointly secured by Lotte Construction and Hyundai Construction, is valued at 1.09 trillion KRW, making it the largest remodeling project in South Korea's history.

Earlier, in January, Lotte Construction succeeded in its first order by being selected as the contractor for the 'Seongsu 1 District Reconstruction Project' worth 104.7 billion KRW, located at 1656-1267 Seongsu, Seongdong-gu, Seoul. Following that, in the same month, it continued its strong performance by being selected as the contractor for the 'Cheongdam Shindonga Apartment Remodeling Project' worth 63.3 billion KRW, located at 134-16 Gangnam-gu, Seoul.

In March, it secured the Daegu Bangogae Redevelopment Project worth 178.3 billion KRW; in April, the Bongcheon 1-1 District Reconstruction Project worth 241.6 billion KRW; the Seonsa Hyundai Remodeling Project worth 556.1 billion KRW; and the Mia 3 District Redevelopment Promotion Zone Redevelopment Project worth 254.3 billion KRW.

In May, it won the Donam 6 District Redevelopment Project worth 265.6 billion KRW, and in June, it secured the Daejeon Doma·Byeondong 4 District Redevelopment Project worth 552.7 billion KRW, surpassing 2 trillion KRW in cumulative urban renewal project orders.