Shindonga Construction buys site for residential project in Jinjeop, Namyangju—the first project of its own since completing rehabilitation proceedings

[Financial News] Shindonga Construction is moving to expand its own development projects by purchasing a site for a residential project in Jinjeop-eup, Namyangju, Gyeonggi Province. It is the company’s first own development project since the conclusion of its rehabilitation proceedings.
According to Shindonga Construction on the 7th, the company has purchased a site measuring about 28,043 square meters around 76-3 Yeonpyeong-ri, Jinjeop-eup, Namyangju, Gyeonggi Province, and will pursue a residential development project.
The site will be developed with a residential complex of 590 units, rising 29 stories above ground and extending two stories underground, along with auxiliary and welfare facilities. The company is targeting a groundbreaking and sales launch in October next year, with expected revenue of about 350 billion won.
This is the first own development project Shindonga Construction has pursued since the conclusion of its rehabilitation proceedings. The company plans to gradually expand its own development projects, starting with the Namyangju Jinjeop project and focusing on Seoul and the surrounding metropolitan area.
A Shindonga Construction official said, “We are focusing our capabilities on redevelopment projects and our own development projects in areas with strong business prospects, particularly in Seoul and the surrounding metropolitan area,” adding, “We plan to move forward steadily with the Namyangju Jinjeop project as well.”
Meanwhile, Shindonga Construction is expanding its contract wins in small-scale and urban redevelopment projects this year while identifying potential sites for its own development projects, focusing on Seoul and the surrounding metropolitan area.

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