Achieved 1.3332 Trillion KRW in Urban Renewal Project Orders
Cumulative Orders Reach 2.9971 Trillion KRW by Q3 This Year
HDC Hyundai Development Company has been selected as the construction contractor for the redevelopment of Yongdu 3 District in Daejeon. By consecutively securing construction rights in Seoul, Daejeon, and Jeonju, the company's urban renewal project orders this year have exceeded 1.3 trillion KRW.
Aerial view of Yongdudong 3 Redevelopment Promotion Zone in Daejeon (Photo by HDC Hyundai Development Company)
HDC Hyundai Development Company announced on the 11th that it was selected as the construction contractor with the consent of 539 out of 618 union members (87%) at the general meeting for selecting the construction company for the redevelopment project of Yongdu-dong 3 Redevelopment Promotion Zone in Daejeon on the 9th.
The redevelopment project of Yongdu-dong 3 Redevelopment Promotion Zone in Daejeon is a project to build apartments and ancillary welfare facilities consisting of 16 buildings with 1,991 households, ranging from 4 basement floors to 35 above-ground floors, on the site of 53-31 Yongdu-dong, Jung-gu, Daejeon. The total contract amount is approximately 601.8 billion KRW. The project was won through a consortium with Gyeryong Construction, with HDC Hyundai Development Company holding a 65% stake (391.2 billion KRW).
Through winning the Yongdu 3 District project, HDC Hyundai Development Company is expected to smoothly achieve the order target of 4.8529 trillion KRW set at the beginning of the year. As of the third quarter of this year, HDC Hyundai Development Company recorded a cumulative order amount of 2.9971 trillion KRW, achieving 62% of the annual plan. This surpasses last year's order performance of 2.6784 trillion KRW.
HDC Hyundai Development Company has joined the 1 trillion KRW club for cumulative urban renewal project orders. With the recent order for the Daejeon Yongdu 3 District redevelopment project, the total urban renewal project order amount has reached 1.3332 trillion KRW. Previously, on the 2nd, the company secured the redevelopment project near the Jeonju Military Manpower Administration area (410.5 billion KRW), in July the reconstruction project of Hyundai Apartments in Jangan-dong (274.2 billion KRW), and in June the redevelopment project of Gayang-dong 1 District in Daejeon (257.3 billion KRW).
An official from HDC Hyundai Development Company said, "We secured competitiveness in urban renewal projects through meticulous analysis of project sites, and based on this, we surpassed a cumulative order amount of 1 trillion KRW," adding, "We will provide the highest value that satisfies residents by supplying high-quality housing in excellent locations."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
