Daeshin Asset Trust is accelerating its redevelopment project in the Pajang Songjuk District of Suwon.
On June 15, Daeshin Asset Trust announced that it has completed the proposal for the designation of the maintenance district and the application for the project implementer for the Pajang Songjuk area. This application was made 36 days after the start of collecting consent forms from landowners, showcasing the company's capability for swift project execution under the trust system.
The Pajang Songjuk District is located in Suwon's Jangan-gu, specifically at 622 Pajang-dong. The redevelopment project will cover a total area of 42,190 square meters, featuring a residential complex with three underground levels and 29 above-ground floors, comprising approximately 970 housing units.
This area is one of the regions in Jangan-gu where redevelopment and reconstruction projects are actively underway. It is expected to develop into a new residential belt representing the northern part of Suwon, especially in connection with nearby maintenance projects.
Recently, more projects in the urban maintenance sector have opted for the trust system to shorten project durations and enhance expertise. The industry notes that having a trust company manage the entire project from the initial stages can accelerate progress compared to the cooperative model.
Kim Song-kyu, CEO of Daeshin Asset Trust, stated, "The Pajang Songjuk District is a leading project site among the designated developer candidates in Suwon. We will systematically manage the entire process to enhance project viability and do our utmost to protect the rights of landowners."
As more urban maintenance projects in the metropolitan area adopt the trust system to reduce project timelines and ensure expertise, competition among trust companies for urban maintenance contracts is expected to intensify. With the redevelopment projects in Suwon's Jangan-gu gaining momentum, there is growing anticipation for the formation of a large-scale new residential belt in the future.
* This article has been translated by AI.
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