'Dongbu Construction, a Leader in Public Projects, Selected as Preferred Bidder for Gwanggyo and Gyosan Public Housing'

A 430.7 Billion Won Project
1,323 Apartment Units to Be Built

Dongbu Construction announced on September 5 that it has been selected as the preferred bidder for the Gwanggyo and Gyosan public housing project commissioned by Gyeonggi Housing and Urban Development Corporation (GH).

This project is a package deal that combines two blocks, with a total project cost of 430.7 billion won. Dongbu Construction will serve as the lead contractor, and a total of 1,323 apartment units will be built.

Dongbu Construction.

In the Gwanggyo A17 block, 600 units will be constructed in buildings ranging from two basement levels to 20 stories above ground. Among these, 240 units will, for the first time, adopt the 'equity accumulation housing' model. In this model, buyers acquire only 10% to 25% of the initial sale price and reside in the unit, then gradually acquire the remaining share over 20 to 30 years. This public sale model aims to reduce the initial financial burden for first-time homebuyers, such as young people and newlyweds, and help them build assets, attracting significant attention.

In the Hanam Gyosan A1 block, 723 units will be constructed in buildings with two basement levels and up to 25 stories above ground. Both complexes will feature floor noise reduction technology as well as eco-friendly and smart residential technologies.

Dongbu Construction has been showing strong performance in the public construction sector, having won a total of five public housing projects with private sector participation so far this year. In the public housing construction sector alone, the company has secured orders worth nearly 850 billion won.

A Dongbu Construction representative stated, "This project is significant as it presents a new model for public housing, such as equity accumulation housing," adding, "Through this project, we aim to contribute to housing stability for low-income households and young people without homes, while also leading the spread of future-oriented housing technologies."