Daebang Construction Acquires Four Land Parcels Worth a Total of 830 Billion KRW in Six Months

- Daebang Construction Debt Ratio in the 40% Range... Superior Management Compared to Industry Average Debt Ratio (111.43%)
- Approximately 8,000 Apartment Units Scheduled for Supply in 2024

Contrary to the real estate downturn, Daebang Construction is demonstrating its financial strength with an unstoppable momentum, securing the highest land bids.

Starting with the Yangju Okjeong Central Commercial Land (Jungsang 1BL) worth approximately 125 billion KRW in November 2023, Daebang Construction successfully won bids for Bucheon Daejang Multi-family Residential Land (B5BL) valued at about 265 billion KRW and Bucheon Daejang Multi-family Residential Land (B1BL) worth around 267 billion KRW in December.

Then, on Friday, April 12, 2024, they acquired the Yangju Okjeong Complex Land (Complex 1BL) valued at approximately 177 billion KRW, securing a total of four land parcels worth about 834 billion KRW within six months.

The market views this as a move that would be difficult without strong financial backing. According to the Financial Supervisory Service's electronic disclosure, Daebang Construction's standalone debt dependency ratio was 16.87% in 2023, and its debt ratio was 40.51%. In comparison, the industry average debt ratio was 111.43% as of the end of 2022, according to the Public Procurement Service's average management status announcement. This indicates that Daebang Construction's financial management capabilities are relatively excellent.

A Daebang Construction representative stated, "Not only are we making unstoppable moves in land bidding, but we also expect excellent sales performance, making this a year of overall growth." They added, "Starting with ‘Buksuwon Imok District Dietre The Riche (total 2,512 households)’ scheduled for sale in May, we plan to supply a total of about 8,000 multi-family residential units (apartments) in high-demand areas such as ‘Gwacheon Knowledge Information Town,’ ‘Seongnam Geumto District,’ ‘Uiwang Wolam District,’ and ‘Gunpo Daeyami District.’"