Mansu Jugong Gains Promotion Committee Approval
Integrated Reconstruction for Sections 1 to 6
Up to 49 Floors and 11,594 Units Planned
The Mansu Jugong Apartment reconstruction project in Namdong-gu, Incheon, has gained official promotion committee status, marking a significant step forward. After the redevelopment, the site will house 11,594 apartment units. As a single complex, this project is of historic scale, following the Olympic Park Foreon (12,032 units), which was the largest reconstruction complex since the founding of Korea.
According to the maintenance industry on November 27, the Namdong-gu Office in Incheon announced on November 18 the approval of the promotion committee for the reconstruction of the Mansu Jugong Apartment complex, located at 29 Mansu-dong. Mansu Jugong is an aging complex completed between 1986 and 1987. A total of 6,866 units across sections 1 to 6 are undergoing integrated reconstruction. The project area covers 4,190,320 square meters (approximately 1.27 million pyeong).
On the 26th, banners congratulating the approval of the promotion committee by Daewoo Engineering & Construction, GS Engineering & Construction, and Hyundai Engineering & Construction were hung within the Mansu Jugong complex in Incheon. Photo provided by the reader
Once the association is established, the site will feature seven buildings with up to 49 floors above ground, totaling 11,594 units and various community facilities. In terms of single-complex scale, it rivals the Olympic Park Foreon, which was rebuilt from Dunchon Jugong.
The maintenance industry is paying close attention to the rapid progress of the Mansu Jugong project. After passing the initial precision safety inspection in January last year, Mansu Jugong submitted an application for the establishment of a maintenance plan and district designation in February of the following year. In September of the same year, just seven months later, the process to form the promotion committee began, bringing the project to the verge of establishing an association, often considered the third and most critical stage in reconstruction. During the promotion committee formation stage, over 900 households-15% of all units-gave their consent through the electronic approval system on the very first day.
As the construction process accelerates, buying interest is also increasing. For example, in Mansu Jugong Section 4, a 61-square-meter unit set a new record on November 21, selling for 290 million won, up 30 million won from June (260 million won). Since January, there have been a total of 39 transactions. In Section 5, there have been 44 sales contracts during the same period.
The promotion committee plans to establish the association in the second half of next year, assuming the maintenance plan is finalized by mid-year, and to select a construction company in the first half of 2027. Although the total construction cost has not yet been finalized, it is expected to be in the 4 trillion won range. Given that the construction cost for Dunchon Jugong, completed last year, was 4.37 trillion won, the budget for Mansu Jugong is likely to be set at a similar level.
Given the project's scale, which is comparable to a mini-new town, major construction companies are showing keen interest in winning the contract. Daewoo Engineering & Construction, GS Engineering & Construction, and Hyundai Engineering & Construction have put up banners in the complex to celebrate the promotion committee's approval and have begun ramping up their promotional activities.
The promotion committee has stated that, when selecting a construction company, it will prioritize practical proposals, such as finishing materials and financial terms. Jo Miseon, Chairperson of the Integrated Reconstruction Promotion Committee for Mansu Jugong, said, "While finishing materials and design are important, the construction companies' ability to secure financing has also become crucial due to limits on relocation loan amounts. We aim to select a builder that can meet the complex needs of our association members."
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