Hyundai Engineering & Construction Signs Early Contractor Involvement Agreement
for High-End Residential Development on Auckland's Coast
Hyundai Engineering & Construction has announced plans to build high-end homes along the coast of New Zealand in partnership with local companies.
The company stated on the 18th that it recently signed an Early Contractor Involvement (ECI) agreement for "The Strand Housing Development Project" with HND TS (hereafter HND), a New Zealand investment management firm, and CMP Construction, a local construction company, at its headquarters.
This project aims to create a luxury mixed-use residential complex near Takapuna Beach, located in the northeastern part of Auckland, New Zealand's largest city. The development will consist of four buildings ranging from three underground levels to seven to ten above-ground floors, totaling 219 units. The project is invested in and developed by HND Holdings, the parent company of HND, with the goal of building a high-end residential complex that harmonizes with the local environment through pre-planned design and landscaping.
ECI is a method in which the construction company participates from the initial design stage to help derive the design plan. This approach is advantageous for determining optimal timelines and costs. According to the company, focusing on technical competitiveness means the contractor's capabilities are a key factor in the project's successful execution.
Kim Taehee, Head of Architecture Division at Hyundai Engineering & Construction (from left), Zhang Yaxin, Founder of HND Holdings, and Ronald McRae, CEO of CMP, are taking a commemorative photo after signing an early participation agreement for the housing development project at Hyundai Engineering & Construction headquarters on the 16th. Provided by Hyundai Engineering & Construction
Based on this ECI agreement, Hyundai Engineering & Construction plans to collaborate with CMP, which has a strong track record in local housing projects, and ASC Architects, leveraging its own expertise in design and construction for high-end residential spaces. The company also intends to introduce "K-Housing" solutions, such as community facilities, solar panels, and electric vehicle charging stations-features widely adopted in Korea and adaptable to local lifestyles.
The signing ceremony was attended by Zhang Yaxin, founder of HND Holdings, Ronald McRae, CEO of CMP, Kim Taehee, Head of the Architecture Division at Hyundai Engineering & Construction, and Kim Kyungsoo, Head of the Global Business Division. During their visit to Korea, Zhang Yaxin and Ronald McRae toured the Hyundai Engineering & Construction DH Gallery, model homes, and newly completed apartment complexes in Gangnam.
A Hyundai Engineering & Construction representative stated, "As the New Zealand real estate market shifts from small- to medium-scale low-rise housing to large-scale mid-rise residences, this project serves as a symbolic venture to demonstrate the competitiveness of Hyundai Engineering & Construction's housing brand locally. Having prepared for market entry by partnering with local public enterprises, we will further enhance our understanding and build a strong network through direct participation in this project, solidifying our foundation in both the New Zealand and overseas housing markets."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
