쌍용건설

Ssangyong E&C, which has been expanding its remodeling and urban redevelopment business, has recently won a series of small-scale reconstruction projects in Busan.

The company announced that, at a general assembly of the Gongjak Mansion City-Block Housing Redevelopment Association held on May 21, it was ed as the contractor for the reconstruction of the Gongjak Mansion apartment complex, located at 1376-5, Oncheon-dong, Dongnae-gu, Busan. The contract is worth KRW 51.6 billion (some USD 41 million).

The project will transform Gongjak Mansion into two mixed-use "The Platinum" apartment buildings (B3/27F) with a total of 175 units. Construction is set to begin in March 2024, and the number of general presale units is 118. More specifically, the project site is located across a six-meter-wide street from the site for the Oncheon Phase 2 Public Apartment City-Blocking Housing Redevelopment Project, which Ssangyong E&C also won in September of last year. Since the company is the contractor for both projects, the two sites will be combined and transformed into a mid-sized apartment complex with five buildings featuring a total of 440 units.   

"Our two-track efforts to win both large-scale remodeling projects and small-scale urban renewal projects in Seoul, the Seoul Capital Area, and metropolitan cities are yielding tangible results," a company official said. "Moving forward, we will continue to actively explore small-scale reconstruction projects in Seoul, Busan, Daejeon, and other metropolitan cities, as we look for projects that can further enhance the status of The Platinum brand."

In the field of urban renewal alone (e.g., reconstruction, redevelopment and remodeling), the company has secured a total of KRW 4.35 trillion (some USD 3.48 billion) worth of contracts across the country involving the construction of some 27,500 units in 31 housing complexes.