Home Business Hyundai Engineering wins 2 trillion won order for urban renewal project

Hyundai Engineering wins 2 trillion won order for urban renewal project

by news dir

[FETV=김현호 기자] Hyundai Engineering has established itself as a strong player in the urban renewal business by achieving a total of 2 trillion won in annual orders for the first time since entering the urban renewal business.

Hyundai Engineering announced that it had been selected as a contractor at the ‘Namyangju Deokso 5A District Urban Environment Renovation Project’ at the ‘Constructor Selection Assembly’ held on the 30th.

Namyangju Deokso 5A District Urban Environment Renovation Project is a project to create 6 apartment buildings with 7 basement floors and 48 floors, 990 households, 180 officetel rooms, and additional welfare facilities on a 28,813㎡ site at 458-15 Deoksori, Wabu-eup, Namyangju-si, Gyeonggi-do. The construction cost is about 282.1 billion won.

Including this order, Hyundai Engineering has achieved a total of KRW 2.138 trillion in orders for urban redevelopment projects in 2021. Last year, the city received a total of KRW 1,416.6 billion in orders, and joined the 1 trillion club in orders.

Looking at this year’s order performance, ‘Uijeongbu Jangam District 5 Redevelopment’ in January, ‘Gwangmyeong Cheolsan Hanshin Apartment Remodeling’ and ‘Daejeon Domabyeon-dong District 1 Redevelopment’ in March, ‘Garak Ssangyong 1st Apartment Remodeling’ in May, and ‘Suwon Yeongtong’ in June There are a total of 8 cases including ‘Remodeling of Shinsung Shinan Ssangyong Promotion Apartment’, ‘Ansan Palgok Il-dong District 1 Reconstruction’ in August, ‘Busan Jwacheon-Beomil Integrated District 2 Urban Environment Improvement Project’ and ‘Changwon Member District 2 Housing Redevelopment Maintenance Project’.

In addition, the most notable part of Hyundai Engineering’s total orders of 2 trillion won in urban renewal projects is not only redevelopment and reconstruction, but also remodeling projects. It entered the remodeling business where the market is rapidly growing this year for the first time this year and won an order of KRW 604.7 billion. It is planned to strengthen its position in the remodeling market by upgrading the remodeling TF to a remodeling team and expanding the remodeling business in earnest.

Hyundai Engineering has established itself as an emerging powerhouse in the urban renewal market by providing members with stable business promotion and excellent financial conditions based on the construction industry’s highest credit rating (AA-) and excellent financial soundness.

Hyundai Engineering’s strategy is to imprint its image as a strong player in the urban renewal business in the market by playing an active role in all areas of the urban renewal business, including redevelopment, reconstruction, and remodeling, based on its competitiveness in winning orders and business promotion capabilities.

An official from Hyundai Engineering said, “After joining the 1 trillion won club in the city maintenance project last year, we achieved a feat of achieving a total of 2 trillion won in orders this year. Through this, we will further solidify our position in the urban renewal project.”

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