Daewoo E&C’s cumulative urban renewal orders top 5 trillion won; more wins, including Mokdong Complex 8, expected

[Financial News] Competition among major construction companies to win urban renewal projects is intensifying. Daewoo E&C’s cumulative order value has also surpassed 5 trillion won.
On the 3rd, industry sources said Daewoo E&C had recently been selected as the contractor for the redevelopment of Uijeongbu Ganeung District 4 and Seongsan Moa Town District 4 in Seoul. The two projects have a combined construction cost of 715.3 billion won, bringing Daewoo E&C’s cumulative orders for urban renewal projects to 5.0673 trillion won so far.
The Uijeongbu Ganeung District 4 project, which Daewoo E&C has just won, will build an apartment complex with 1,368 units across 10 buildings, rising 39 floors above ground. The Seongsan Moa Town District 4 project will build an apartment complex with 685 units across seven buildings, rising 29 floors above ground, along with ancillary amenities.
Daewoo E&C plans to apply Prugio’s signature designs to both complexes and develop them as residential communities that represent their respective areas. In particular, at Seongsan Moa Town, after securing the construction rights for Districts 1 and 3, the company has also secured those for District 4 and plans to create a Prugio-branded community with at least 2,000 homes.
Further contract wins are also expected. Daewoo E&C has been selected as the preferred bidder for Mokdong Complex 8 and Yeouido Hwarang Apartment. The Shinwol Siyoung reconstruction project and the GTX Geumjeong Station Area District 1 redevelopment project are also among the key projects it is pursuing.


[email protected] Lee Jong-bae Reporter