Cumulative Orders Reach 800 Billion KRW
Profitability and Financial Soundness Improved
Dongbu Construction has launched a full-scale drive for new orders, winning over 200 billion KRW worth of new construction contracts in May alone.
On May 28, Dongbu Construction announced that a consortium it participated in was recently selected as the preferred bidder for the "Pyeongtaek Godeok A-12, A-27, A-65BL Integrated Private Participation Public Housing Construction Project," commissioned by Korea Land and Housing Corporation (LH). The total project value is 771.7 billion KRW, of which Dongbu Construction's share amounts to approximately 154.3 billion KRW.
Perspective view of Jeonbuk National University Engineering Building 1 facility improvement lease-type private investment project. Provided by Dongbu Construction
In addition, Dongbu Construction secured new orders this month totaling 220 billion KRW, including the Jeonbuk National University Engineering Building 1 facility improvement lease-type private investment project (BTL) and the relocation construction project for military unit 00 in Paju Unjeong District 3.
Dongbu Construction's cumulative orders for this year have reached approximately 800 billion KRW, achieving results in its core areas of civil engineering, architecture, and housing. The company expects to win additional contracts for large-scale public projects, including technology-based tenders, and aims to reach 1 trillion KRW in orders within the first half of the year.
The company is also making its mark in the urban renewal sector. Recently, Dongbu Construction succeeded in winning an urban renewal project for the first time in about two years through the Jungnang-gu Muk-dong Jangmi Apartment redevelopment project. This was followed by consecutive wins in the Mangwoo-dong 509-1 street housing renewal project and the Gocheok-dong Moatown Districts 4, 5, and 6 redevelopment projects, further strengthening the presence of the "Centreville" brand in Seoul.
Dongbu Construction assessed these achievements as the visible results of its strategy to diversify its order portfolio in a sluggish construction market. A Dongbu Construction representative stated, "By implementing a customized order strategy that reflects our core competencies and thorough cost management, we achieved both stabilized sales and improved profitability in the first quarter. At the same time, our debt ratio has decreased, leading to enhanced financial soundness."
The representative added, "Our order strategy based on selectivity and focus, as well as efforts for cost innovation, have produced tangible results. This year, we plan to accelerate performance improvements by achieving both external growth and internal strengthening."
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