Shindonga Construction Acquires Land for 590-Unit Multi-Family Housing in Jinjeop, Namyangju
First Independent Project After Completion of Rehabilitation Procedure
Shindonga Construction is launching its first independent project following the conclusion of its rehabilitation procedure, including acquiring land for a multi-family residential complex in Jinjeop-eup, Namyangju, Gyeonggi Province.
Aerial view of multi-family housing in Jinjeop, Namyangju, Gyeonggi-do. Shindongah Construction
View original imageOn October 7, Shindonga Construction announced that it has acquired approximately 28,043 square meters of land at 76-3 Yeonpyeong-ri, Jinjeop-eup, Namyangju, Gyeonggi Province, and will proceed with a multi-family housing development project on the site.
The company plans to construct a residential complex with 590 units in buildings ranging from two basement levels to 29 above-ground floors, along with accompanying community amenities. Construction and pre-sales are slated to begin in October next year. If the project proceeds as scheduled, the expected revenue is forecast to reach approximately 350 billion won.
Throughout this year, Shindonga Construction has been expanding its bids for small-scale and urban redevelopment projects while also consistently identifying potential sites for independent developments in promising areas of Seoul and the greater metropolitan region. Beginning with this Jinjeop project in Namyangju, the company plans to gradually expand its self-led developments, focusing on regions within the metropolitan area that have strong business potential.
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A Shindonga Construction representative stated, "We are concentrating our capabilities on redevelopment and in-house projects in areas with high business potential, especially in Seoul and the greater metropolitan region," and added, "Jinjeop in Namyangju offers outstanding development conditions and locational competitiveness, so we expect to be able to carry out the project stably."
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