Kumho E&C announced on July 16, 2025, that it has been selected as the preferred bidder for three private sector participation public housing projects in the 3rd phase new towns this year.
Kumho E&C was previously selected as the preferred bidder for the Uiwang-Gunpo-Ansan district (724.7 billion KRW), Namyangju Wangsuk district (598.6 billion KRW), and Hanam Gyosan district (257 billion KRW). The total project value of these three contracts amounts to approximately 1.6 trillion KRW.
The private sector participation public housing project is a model in which public entities such as Korea Land and Housing Corporation (LH) or Gyeonggi Housing and Urban Development Corporation (GH) provide the land, and private companies construct the housing. Compared to privately supplied housing, these projects offer lower pre-sale prices, resulting in a lower risk of unsold units and more stable funding for construction costs.
Recently, as expectations for public housing have risen, demand has also increased for construction companies equipped with comprehensive capabilities from design and construction to operation.
Accordingly, Kumho E&C plans to continue expanding its orders with a focus on public projects. In the recently awarded Namyangju Wangsuk and Uiwang-Gunpo-Ansan districts, the company plans to apply Athera and develop large-scale Athera Towns in the northeastern and southwestern regions of Gyeonggi Province.
A Kumho E&C representative stated, "As orders for the 3rd phase new towns are now in full swing, we are actively participating in the related market and achieving strong results," and added, "Based on Kumho E&C's strengths in public projects, we will continue to expand orders and improve performance in private sector participation public housing projects."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
