On June 2, the company announced that it was selected as the construction firm during a general assembly of the Changjeon-dong housing redevelopment association held on May 31.
The project involves constructing six apartment buildings named 'The Platinum,' consisting of 292 units, along with community facilities, on the site located at 46-1 Changjeon-dong. The construction cost is estimated at 123 billion won, with a projected timeline of approximately 44 months from the start of construction.
The site is part of Seoul's Moa Town initiative and is conveniently located near Sinchon Station on Line 2 and Gwangheungchang and Daehyeong Stations on Line 6, with Gwangheungchang Station just a four-minute walk away.
Including this project, Syangyong Construction has been accumulating contracts in major redevelopment projects across Seoul, such as the Hong-eun-dong housing redevelopment, the Siheung 5-dong Moa Town project, the Cheonho-dong housing redevelopment, and the Noryangjin Eunha Mansion area redevelopment.
A representative from Syangyong Construction stated in a phone interview, "We plan to continue securing contracts for housing redevelopment projects in the future."
Meanwhile, due to a recent downturn in the construction market and a contraction in the project financing sector, mid-sized construction companies are increasingly focusing on smaller-scale redevelopment projects like housing redevelopment.
* This article has been translated by AI.
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