Daebo Construction wins 210.7 billion won Daejeon Gao-dong reconstruction project, expands urban redevelopment business

[Financial News] Daebo Construction, the construction arm of DAEBO Group, has secured a reconstruction project worth 210.7 billion won in Gao-dong, Dong-gu, Daejeon. With this, Daebo Construction, whose cumulative contract wins this year have topped 1 trillion won, is expanding its business into urban redevelopment.
According to Daebo Construction on the 26th, it was selected as the contractor at the general meeting of the Gao-dong District 1 Reconstruction and Redevelopment Project Association, held on the 24th.
The Gao-dong District 1 Reconstruction and Redevelopment Project will rebuild the area around 210 Gao-dong, Dong-gu, Daejeon Metropolitan City, into public housing with 700 units and ancillary welfare facilities, comprising eight buildings with two basement levels and up to 35 floors above ground. The total construction cost is approximately 210.7 billion won.
Daebo Construction is expanding its contracts for private-sector urban redevelopment projects, drawing on its construction experience built up recently, particularly in public works. Since introducing its apartment brand House D in 2014, it has accumulated a track record of building more than 70,000 homes across the private and public sectors.
Earlier, last September, it successively won contracts for Section 2 of the Gyeyang-Ganghwa Expressway and Section 2 of the site development works for the Asan Tangjeong 2 Urban Development Project. The two projects have a combined construction cost of about 520 billion won. As a result, Daebo Construction’s cumulative contract wins this year topped 1 trillion won, marking the fourth consecutive year its annual contract wins have exceeded 1 trillion won.
A Daebo Construction representative said, “With the technical expertise we have developed through a track record of building more than 70,000 private and public apartment units, we will make Gao-dong District 1 a premium apartment complex.” The representative added, “Over the past 46 years, we have demonstrated diverse construction capabilities across various fields, including apartments, officetels, railways, roads and land development, and we plan to focus our efforts on urban redevelopment projects as well.”

[email protected] Choi A-young Reporter