Lotte Construction Wins Changwon Yongho 3 District Reconstruction Project, Surpasses KRW 1.5 Trillion in Four Months

1,048 New Apartment Units to Be Built in Yongho-dong, Seongsan-gu

Lotte Construction has secured a reconstruction project worth approximately KRW 400 billion in Changwon, Gyeongsangnam-do. With this win, Lotte Construction's total accumulated orders for urban redevelopment projects this year have surpassed KRW 1.5 trillion.

On April 19, Lotte Construction announced that it had recently been selected as the contractor for the "Changwon Yongho 3 District Reconstruction and Redevelopment Project" in Yongho-dong, Seongsan-gu, Changwon, with a construction cost of KRW 396.7 billion.

The project involves demolishing the Yongho Muhak Apartments (1,040 units), which were completed in 1987, and constructing a new residential complex with six buildings ranging from four underground to 38 above-ground floors, totaling 1,048 apartment units, along with various ancillary facilities.

Perspective view of the Changwon Yongho 3 District Reconstruction and Maintenance Project. Lotte Engineering & Construction

The Yongho 3 District is well-equipped with educational and living infrastructure. Yongho Elementary School, Yongnam Elementary School, Bansong Middle School, and Changwon Yongho High School are all within walking distance. Yongji Park and Bansong Park are also nearby, as well as Changwon City Hall, Lotte Department Store Changwon branch, Changwon Sports Park, and Changwon Convention Center.

The complex design incorporates a sky terrace offering views of the adjacent Yongji Park and Bansong Park. Lotte Construction plans to create a central gallery in the heart of the complex to evoke the atmosphere of an outdoor art museum, and to enhance residential comfort by installing a 1-kilometer circular walking trail and various themed parks within the development.

Major construction companies have been continuously winning redevelopment projects in the Yongho-dong area. Nearby, GS Engineering & Construction was selected as the contractor for the Yongho 2 District last November.

A Lotte Construction representative stated, "The Yongho-dong area of Changwon has a strong industrial base and is highly sought after as a residential location, which is why redevelopment projects are thriving. We will complete the newly awarded Yongho 3 District project as a premier residential complex that represents the region."

This year, Lotte Construction has achieved a cumulative order value of KRW 1.5049 trillion, following successful bids for the Garak Geukdong Apartment reconstruction project in Songpa-gu, Seoul (KRW 484 billion) and the Geumho 21 District redevelopment in Seongdong-gu (KRW 624.2 billion), in addition to this latest win.

This content was produced with the assistance of AI translation services.