Jungheung Togeon, Bright Outlook for Joining the '1 Trillion Club' in Urban Renewal Projects This Year

880.8 Billion Won in Orders Secured So Far
Expected to Reach 1 Trillion Won Upon December Contract Completion

Jungheung Construction is expected to achieve 1 trillion won in orders for urban maintenance projects this year despite the downturn in the domestic construction market.

Exterior view of the Jungheung Group headquarters building

According to Jungheung Group on the 4th, Jungheung Construction recorded a total of 242.2 billion won (925 households) in the first half of the year by securing orders starting with the ‘Busan Buwon Apartment Small-scale Reconstruction’ in March, followed by ‘Seoul Sinwol-dong 995 Street Housing’ and ‘Anyang Myeonghak Market Street Housing’.

In the second half, riding the momentum, the company consecutively secured orders in major regions nationwide, including ‘Gwangju Sansu-dong 553-24 Street Housing’, ‘Incheon Songwol District Reconstruction’, ‘Busan Ildong Daeyoung Apartment Small-scale Reconstruction’, ‘Busan Lucky Rainbow Apartment Street Housing’, and ‘Changwon Banwol District Redevelopment’, achieving a total of 880.8 billion won (2,961 households) in performance by November.

A Jungheung Construction official stated, “We have been designated as the preferred negotiation partner for the New Seoul Apartment, Gaenari, and Yeolmaeng Yeonrip reconstruction project in Gwanak-gu, Seoul, with an order amount of 120.8 billion won (306 households), and are scheduled to sign a contract in December,” adding, “If the contract is completed this month, the total orders for maintenance projects this year will exceed 1 trillion won (3,267 households).”