쌍용건설

-Namchon Village, Osan-dong, Osan (1,285 units, 17~52 pyeong) (1 pyeong = 3.3 ㎡)
-Busan Centum City, Jaesong-dong, Busan (972 units, 16~48 pyeong)
-Urban Development Business Department wins work for building a total of 4,200 units

The Company’s Urban Development Business Department, newly launched in the first half of the year to focus on winning orders for urban redevelopment projects, won contracts to build a total of 2,300 apartments in Greater Seoul area and Busan.

On August 11, Ssangyong E&C reported that it, jointly with GS E&C, won the refurbishment work on 1,285 units in Namchon Village in Osan-dong, Osan, in addition to 972 units in Jaesong-dong, Busan, which the Company won alone on August 19.

With the redevelopment work, the 23,913-pyeong area in Osan-dong, Osan will be transformed into a 1,285-unit apartment complex comprised of ▲ 17 pyeong, 220 units, ▲ 24 pyeong, 174 units, ▲ 33 pyeong, 565 units, ▲ 43 pyeong, 188 units, ▲ 52 pyeong, 138units. The work is scheduled to commence in April 2009 and be completed by July 2011.

Another redevelopment project in Centum City, Haeundae, Busan includes ▲ 16 pyeong, 84 units, ▲ 33 pyeong, 667 units, ▲ 42 pyeong, 105 units, ▲ 48 pyeong, 116 units. The work is scheduled to commence in September 2009 and be completed by July 2012.

Commenting on the new projects, a Ssangyong official said, “It is significant that these projects are the first ones carried out in relevant areas. Under the new regulation, which took effect on August 25, we expect to enjoy an advantageous position to win additional orders for redevelopment work in these areas.”

This year alone, the Company has won a total of 4,146 units of redevelopment work, including 700 units in Gaya, Busan (January), 1,189 units in Gyoban-Gyowon-Seongho, Masan (June), plus the aforementioned ones in Osan and Busan.