GS Engineering & Construction Selected as Preferred Bidder for Three Public Housing Projects in Gwangmyeong and Siheung

GS Engineering & Construction announced on July 31 that it has been selected as the preferred bidder for private participation in the Gwangmyeong Siheung S1-11 block, S2-2 block, and Siheung Geomo A-1 block projects, which were commissioned by Korea Land & Housing Corporation (LH). The total planned construction cost is approximately 520 billion KRW, with GS Engineering & Construction holding a 70% stake. This amount corresponds to about 4.04% of the company’s consolidated sales as of the end of last year. The Gwangmyeong Siheung S1-11 block project involves the construction of 1,066 units of New:Home standard-type housing in a building up to 29 stories high. The Gwangmyeong Siheung S2-2 block will feature up to 29-story buildings with 781 units of New:Home selective-type apartments. Approval for the housing construction business plans for both blocks is scheduled for November.