Shinyoung C&D, a construction subsidiary of real estate developer Shinyoung Group, is accelerating its diversification by expanding its portfolio of private office, redevelopment, and public projects.
On July 13, Shinyoung C&D announced that it is establishing a stable growth foundation by being selected as the preferred bidder for office projects from reputable private clients and expanding its public and redevelopment project contracts.
In June, Shinyoung C&D was chosen as the preferred bidder for the 'Seragem New Office Construction Project' located in the Gwacheon Knowledge Information Town, Block 4-3. This project involves the construction of a seven-story underground and 14-story above-ground office facility and community service facilities, with a total floor area of approximately 22,183 square meters. Construction is set to begin between late September and early October this year.
In the residential sector, the company is also increasing its contracts for redevelopment projects. Last year, it entered the redevelopment market by securing contracts for the 'Anyang 8-dong Samah Apartment Redevelopment Project' and the 'Sinwol-dong 477-3 Redevelopment Project.' The company stated that these efforts have enhanced the market recognition of its residential brand, 'GWELL.'
Shinyoung C&D is steadily securing public projects as well. It has won contracts for public works, including the 'LH Siheung Geomo A-5BL Apartment Construction Project, Section 2,' and in April of this year, it signed a conditional contract for the 'Incheon Juan-dong Officetel Construction Project,' which is subject to the LH new construction purchase agreement (cost-linked). Additionally, it is pursuing its own development projects, such as the 'Sejong City 4-2 Living Zone H3BL Mixed-Use Construction Project.'
The company is also focused on strengthening its management capabilities. It plans to enhance cost management capabilities by applying value engineering (VE) from the design stage and gradually introduce AI smart construction technology. Furthermore, it has established a 'Technical Support Office' that integrates estimating, budgeting, product development, and technical methods to manage the entire process from contract to construction.
Lee Seung-min, CEO of Shinyoung C&D, stated, "Through diversification of contracts with reputable private clients, redevelopment projects, and public works, along with technological advancement and management strengthening, we aim to enter the top 100 in construction capability evaluation by 2027."
Meanwhile, Shinyoung reported a consolidated revenue of 1.01 trillion won and an operating profit of 154 billion won last year, recovering its annual revenue to over 1 trillion won for the first time in four years. The company improved both its scale and profitability, aided by the sales conversion effect of the Brighton Yeouido project.
* This article has been translated by AI.
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