GS Engineering & Construction announced on the 13th that it has won the contract for the Gajaeul 7 Redevelopment Promotion Zone housing redevelopment project in Seodaemun-gu, Seoul, valued at 368.3 billion KRW.
This project involves the construction of 1,407 apartment units and accompanying welfare facilities in 14 buildings, ranging from four basement levels to 26 floors above ground, in the area of 80 Bukgajwa-dong.
The contract amount of 368.28 billion KRW represents 60% of the total project cost. This is equivalent to 2.86% of GS Engineering & Construction’s sales in the previous year.
The contract period is 40 months from the actual commencement date of construction.
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