Hyundai Engineering has exceeded 10 trillion won in urban redevelopment orders for the second consecutive year. Following its historic achievement last year as the first construction company in the industry to reach an annual order volume of 10 trillion won, the company has again become the first among domestic construction firms to surpass this milestone this year.
On September 19, Hyundai Engineering announced that it secured construction rights for the Yeouido Plaza Apartment 38-1 reconstruction project, the Ulsan Nam-gu B-01 district redevelopment project, and the Daegu Myeongnyun district redevelopment project, bringing its cumulative order volume for urban redevelopment projects this year to 10.118 trillion won.
The construction costs for the three projects are as follows: 5.463 trillion won for the Yeouido Plaza Apartment 38-1 reconstruction, 7.110 trillion won for the Ulsan Nam-gu B-01 district redevelopment, and 5.001 trillion won for the Daegu Myeongnyun district redevelopment.
The Yeouido Plaza Apartment 38-1 reconstruction project will involve the construction of three buildings with a total of 405 units, reaching a height of up to 49 stories above ground and seven stories below ground in the Yeouido-dong area of Yeongdeungpo-gu, Seoul. Hyundai Engineering has proposed the name 'Willow 168' for the complex.
The Ulsan Nam-gu B-01 district redevelopment will create a residential complex with 1,482 units and neighborhood facilities on a 93,084 square meter site in Sinjeong-dong, Ulsan, with a maximum height of 35 stories above ground and three stories below ground. The proposed name for this complex is 'Hillstate Sinjeong Riverfront.'
The Daegu Myeongnyun district redevelopment will consist of 1,082 residential units and 92 officetels on a 48,353 square meter site in Namsan-dong, Jung-gu, Daegu, with a maximum height of 29 stories above ground and four stories below ground. Hyundai Engineering has suggested the name 'Hillstate Namsan Signature.'
This year, Hyundai Engineering has also secured contracts for the redevelopment of the Apgujeong 3 and 5 districts, the Gunpo Geumjeong 2 district redevelopment, the public redevelopment of the Sin-gil 1 district, and the public redevelopment in the Chung-hunbu area of Anyang. In the fourth quarter, the company plans to pursue major redevelopment projects, including the Mokdong 10 complex reconstruction and the Yongsan Hangang-ro district.
Despite rising construction costs and volatility in the financial markets, Hyundai Engineering continues to lead the urban redevelopment market with a selective order strategy focused on key locations.
* This article has been translated by AI.
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