GS Engineering & Construction expands remodeling business, targets completion within three years

[Financial News] GS Engineering & Construction has unveiled “BEYOND ADDITION,” a new remodeling business that upgrades existing apartments to the level of new construction without demolishing them. Its key feature is that retaining the existing structure and not adding extensions can reduce construction time and project costs.
According to GS Engineering & Construction on the 12th, BEYOND ADDITION preserves the strengths of existing living spaces while incorporating the latest residential trends.
The project targets apartments where reconstruction is difficult because of high floor-area ratios or small complex sizes, and where extension-based remodeling is also financially unviable. GS Engineering & Construction estimates that about 260 complexes in Seoul alone meet these conditions.
The goal of the new business is to shorten construction time to 1 year and 6 months, and the total project period from launch to completion to within three years, without large-scale structural-frame or civil engineering work.
The company is also considering applying the products and residential services found in newly built apartments. It plans to make efficient use of space within each complex while maintaining the existing floor-area ratio, expand community facilities, and introduce amenities and residential services tailored to residents’ needs.
The scope of construction and product offerings will be adjusted flexibly to account for residents’ cost burden and the level of improvement they want. Membership in “Club Xi-an,” which provides lifestyle services such as cultural activities, health and care, is also expected to be introduced selectively depending on the conditions of each complex.
GS Engineering & Construction aims to sign its first project agreement next year. A company representative said, “We will reduce residents’ cost burden and improve residential convenience and the quality of our offerings so that more people can experience the distinctive residential value of the Xi apartment brand.”
[email protected] Kwon Jun-ho Reporter