Daewoo Engineering & Construction Selected as Contractor for Uijeongbu Redevelopment, Mapo Moa Town; Urban Redevelopment Orders Top 5 Trillion Won
Mokdong, Yeouido Reconstruction Contracts Could Bring Record-High Orders This Year
Daewoo Engineering & Construction said Tuesday that it had been selected as the construction contractor for the redevelopment of Ganeung District 4 in Uijeongbu and Seongsan Moa Town District 4 in Seoul. The two projects have a combined construction cost of about 715.3 billion won. With these contracts, the company’s cumulative orders for urban redevelopment projects this year have risen to 5.0673 trillion won.
The Ganeung District 4 redevelopment project in Uijeongbu, Gyeonggi Province, involves building 1,368 apartments in 10 buildings, with two basement levels and up to 39 floors, in Ganeung-dong. The construction cost is 464.7 billion won. The company proposed naming the complex Prugio Artive.
Seongsan Moa Town District 4, located around 200-258 Seongsan-dong, Mapo-gu, Seoul, will include 685 apartments in seven buildings, with four basement levels and up to 29 floors, as well as ancillary and community facilities. The total construction cost is 250.6 billion won. The proposed complex name is Mapo Prugio Honors Royal. Following its work in Seongsan Moa Town Districts 1 and 3, the company has now secured the contract for District 4, paving the way for a branded residential complex of more than 2,000 units. Daewoo Engineering & Construction is also pursuing the nearby Seongsan Siyoung Apartment reconstruction project as a key target for winning a contract.
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Daewoo Engineering & Construction previously set its highest-ever annual record in 2022, winning 5.2761 trillion won in urban redevelopment contracts alone. It was selected as the preferred bidder for the reconstruction of Mokdong Apartment Complex 8 and Yeouido Hwarang Apartment, with contractor selection procedures expected to be completed by the end of this year. It also has a chance to win construction contracts for the Sinwol Siyoung reconstruction project and the redevelopment of District 1 near Geumjeong Station on the GTX line. The company expects that winning all of these contracts would surpass its previous record for urban redevelopment orders.
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