Gyeryong Construction Wins 'Songpa Creative Innovation Public Housing Construction' Contract Worth 240.2 Billion KRW

Songpa Creative Innovation Public Housing Site. Provided by Seoul City

Gyeryong Construction announced on the 23rd that it has won the contract for the 'Songpa Creative Innovation Public Housing Construction Project' in Songpa-gu, Seoul, worth 240.2 billion KRW.

Out of the total contract amount of 471.6 billion KRW, Gyeryong Construction holds a 50.92% stake, and the contracting party is Seoul Housing and Communities Corporation (SH). The project involves constructing apartments and ancillary facilities on the site of the former Seongdong Detention Center at 162 Garak-dong, Songpa-gu, consisting of 16 buildings ranging from 3 basement floors to 22 above-ground floors, with a total of 1,240 households. Some units will be supplied as long-term rentals for newlyweds.

Previously, in December last year, the Seoul Metropolitan Government announced that two companies, the Gyeryong Construction Industry consortium and the Kumho Construction consortium, were deemed qualified in the basic design technical proposal bid evaluation for the Songpa Creative Innovation Public Housing Construction Project.

The contract amount corresponds to 8.07% of Gyeryong Construction's sales based on 2023 figures.

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