HowBuild participates in 'Korea Build'... Promotion including provision of project plans containing 'construction cost prediction'

- Owner Sentiment Shrinks Amid Soaring Construction Material Prices
- IT Construction Platform HowBuild Offers Cost Estimation Details Reflecting Current Market Prices for Accurate Building Plans and Construction Quotes

The construction IT platform ‘HowBuild’ announced that it will participate in ‘KOREABUILD,’ held at COEX, Seoul, from the 28th of this month to August 2nd.

HowBuild plans to offer services such as drawing review exclusively to visitors of its booth, a raffle promotion where participants can receive free quantity surveying and a business plan containing construction plans, and discounts on service fees for the HowBuild one-stop solution that supports from business planning to completion.

Through HowBuild’s ‘Business Plan’ provided to clients currently undertaking construction planning, all project costs involved in construction, including construction expenses aligned with current market prices, can be viewed at a glance. Additionally, it contains various information necessary for decision-making, such as construction experts’ opinions, feasible building size and usage, and construction duration.

Moreover, HowBuild is establishing safeguards to ensure accurate construction estimates from contractors by providing quantity surveying details that calculate the amount of materials used for each construction item. It also operates a ‘public competitive bidding’ service that allows comparison and analysis of estimates from 3,000 construction companies.

Furthermore, HowBuild offers a construction management system where clients pay only for the work completed and can check progress daily, a CM service where HowBuild construction experts visit and inspect the site, and a ‘one-stop service’ managed entirely by HowBuild from business planning to project completion.

According to the Construction Industry Research Institute, the price of rebar has increased by 41% to 991,000 KRW compared to 700,000 KRW in the first quarter of last year. Cement prices have also risen by 24% to around 93,000 KRW per ton from 75,000 KRW in the first quarter of last year, indicating a significant increase in construction raw material costs.

Kim Seungnam, HowBuild Project Manager, stated, “In carrying out construction, not only are construction project costs rising recently, but various variables inevitably arise,” emphasizing, “HowBuild aims to minimize potential risks by providing safeguards and information at each stage, including construction planning, design, and construction.”