쌍용건설

 

 

A consortium led by Ssangyong E&C has won the contract to remodel Bugae LH Apartment Block 3 (address: 498-5, Bugae-dong, Bupyeong-gu, Incheon). This is the company's first remodeling project in Incheon and also the largest one among its planned projects in the region.

 

The company announced that, at a general assembly of the Bugae LH Apartment Block 3 Remodeling Association held on May 28, the consortium of Ssangyong E&C and SK Ecoplant was ed as the contractor for the reconstruction project. This is Ssangyong E&C's first remodeling project of the year and SK Ecoplant's first-ever remodeling project. Ssangyong E&C's share in the project is 51% SK Ecoplant's, 49%.

 

The apartment complex, first built in 1996, will be transformed through horizontal extension remodeling into 19 apartment buildings (B1/20F) offering 1,724 units and 19 apartment buildings (B3 or B4/20F) offering 1,982 units. The remodeling will add a total of 258 new units (256 with a size of 70.25㎡ and two with a size of 84.98 ㎡), all of which will be available for general presales. 

 

As for the exterior appearance, the adoption of six unique design elements for the apartment buildings will result in the creation of crystal prism towers with an elegant linear structure. Other chic design elements known as Pyxis Frame, Grand Flow Gate, Noble Road, Diamond Eyrie, and Stream Gate, will be also applied.

 

The existing parking lot in the first basement level will be expanded to the B3 or B4 levels, which will increase parking capacity from 1,260 spaces to 2,378 spaces. At the same time, diverse landscaping spaces, such as a "museum residence" will be created on the ground level, while differentiated community facilities for residents, such as "Sky Community" will be built on the top floor. Moreover, the exclusive usage areas of the existing units will be increased by nearly 30 percent. The project is worth KRW 470.7 billion (some USD 379 million).  

 

In July 2000, Ssangyong E&C launched the industry's first dedicated remodeling team and has since completed the renovation of four apartment complexes in the country. The company has thus far secured 16 apartment remodeling projects involving some 15,000 units. Their cumulative contract value (including this contract) is a whopping KRW 3 trillion (some USD 2.4 billion).

 

In March of last year, the consortium of Ssangyong E&C (leader) and Hyundai Engineering won the Gwangmyeong Cheolsan Hanshin Apartment Remodeling Project (worth KRW 450 billion or some USD 349 million), followed in May by the securing of the Garak Ssangyong Phase 1 Remodeling Project (KRW 800 billion or some USD 639 million), this time in conjunction with POSCO E&C, Hyundai Engineering and Daewoo E&C as consortium partners.

 

Currently, the company is working on the construction of Songpa The Platinum, a 328-unit apartment complex to be created by remodeling the Ogeum Anam apartment complex. The project is set to be completed in December 2023.