Hoban Construction Wins 206 Billion Won Miseong-dong Geonyeong Apartment Reconstruction Project in Gwanak-gu

Private Contract Awarded After Two Failed Bids: Hoban Construction Selected as Preferred Negotiator Through Sole Bid
4 Basement Levels to 23 Above-Ground Floors, 10 Buildings, 612 Units Including 55 Rental Apartments
Close to Sindaebang and Guro Digital Complex Stations, Prime Location with Top Schools and Natural Environment
Continued Success in Seoul’s Maintenance Market with Recent Wins in Sinwol 7-dong, Yangcheon and Jayang 1-4, Gwangjin

Hoban Construction has been officially selected as the contractor for the reconstruction and maintenance project of Geonyeong Apartment in Miseong-dong, Gwanak-gu, Seoul.

Perspective rendering of Miseongdong Kunyoung Apartment reconstruction. Hoban Construction.

On the 24th, Hoban Construction announced that it had been chosen as the contractor at the general meeting of the 'Miseongdong Geonyeong Apartment Reconstruction and Maintenance Project Association' held on the 23rd. This project involves reconstructing a residential complex on a 20,789-square-meter site at 746-43 Miseong-dong, Gwanak-gu, Seoul, with four basement levels and 23 above-ground floors across a total of 10 buildings, providing 612 apartment units (including 55 rental units) and various community facilities. The estimated construction cost is approximately 206 billion won.

This project experienced two consecutive failed bids during the contractor selection process. According to the maintenance project contract processing standards, if there are more than two failed bids for the selection of a contractor for a reconstruction project, the association may select a contractor through a private contract. As a result, Hoban Construction participated as the sole bidder in July, secured the status of preferred negotiator, and subsequently signed the final contract through the general meeting.

Miseongdong Geonyeong Apartment is considered a prime location that offers convenient transportation, educational, and residential environments. Subway Line 2’s Sindaebang Station and Guro Digital Complex Station, as well as Sindorim Station, an interchange for Lines 1 and 2, are all within a 1-kilometer radius. Access to both Gangnam and Gangbuk is also convenient via the Nambu Beltway.

In addition, Miseong Elementary School is located to the north, Doksan High School to the west, and Miseong Middle School to the south, with Yeongnam Elementary School, Munseong Middle School, and Nanggok Middle School also nearby. Doksan Natural Park is situated close to the complex, further enhancing the residential environment. The proximity to large industrial complexes such as Gasan Digital Complex and Guro Digital Complex also provides excellent accessibility between home and work.

A representative from Hoban Construction stated, "We will successfully carry out the reconstruction of Miseongdong Geonyeong Apartment, which boasts an excellent location and environment, and establish it as a landmark residential complex in the area," adding, "We will continue to actively participate in maintenance projects through stable construction and differentiated design."

Meanwhile, Hoban Construction has continued its winning streak in Seoul’s maintenance project market this year, having recently secured public redevelopment projects in Sinwol 7-dong District 2 of Yangcheon-gu and street housing maintenance projects in Jayang 1-4 District of Gwangjin-gu.