Annual Urban Renewal Orders Reach 4.8012 Trillion Won
HDC Hyundai Development Company has secured the Incheon Gulpocheon Station Urban Public Housing Complex Project, valued at 636.1 billion won. The company’s cumulative annual orders for urban renewal projects this year have surpassed 4.8 trillion won, more than tripling last year’s total.
HDC Hyundai Development Company announced on the 26th that it was selected as the preferred negotiator for the Incheon Gulpocheon Station Urban Public Housing Complex Project on the 20th. Perspective view of the Incheon Gulpocheon Station Urban Public Housing Complex Project. Provided by HDC Hyundai Development Company
HDC Hyundai Development Company announced that, in the contractor selection vote held on the 20th, it was chosen as the builder with 227 out of 248 resident committee members (91.5%) voting in favor.
The Incheon Gulpocheon Station Urban Public Housing Complex Project will be built at 895-2 Bupyeong-dong, Bupyeong-gu, Incheon, and will consist of 14 buildings with 3,016 residential units, ranging up to 49 stories above ground and four basement levels. The total project cost is 1.0602 trillion won. HDC Hyundai Development Company will participate in the project as part of a consortium with Jeil Construction, with its 60% stake corresponding to an investment of 636.1 billion won.
Within a radius of approximately 1 km from the project site are Gulpocheon Station (Seoul Line 7) and Bupyeong-gu Office Station (Seoul Line 7 and Incheon Line 1). Additionally, Bupyeong Station (Seoul and Incheon Line 1), where the GTX-B metropolitan express railway line is planned, is nearby, providing convenient transportation connections.
The area is also home to educational facilities such as Gaeheung Elementary School, Bupyeong Middle School, and Bupyeong High School. Residents will enjoy a convenient living environment, with amenities such as Lotte Mart Samsan Branch, Bupyeong-gu Office, Sintree Library, Bupyeong Sintree Park, and Gulpocheon Park all within walking distance.
HDC Hyundai Development Company received positive feedback from the resident committee for its sky landmark design reaching up to 49 stories, the creation of an urban forest complex with a green park four times the size of a soccer field, large-scale community facilities for residents, and the design of a zero-energy complex.
Including this project, HDC Hyundai Development Company’s cumulative urban renewal project orders for the year have reached 4.8012 trillion won, more than tripling last year’s total of 1.3331 trillion won. Going forward, HDC Hyundai Development Company plans to strengthen the competitiveness of IPARK nationwide, including in Seoul, by pursuing a selective order strategy that balances profitability and stability.
A representative of HDC Hyundai Development Company stated, "By combining our outstanding design with the site’s proximity to the station, we will create a landmark complex connecting Incheon and Bucheon," adding, "We will repay the trust shown by people across the country by delivering the best complex in the region."
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