Xi S&D (317400) has been selected as the builder for a small-scale street-block housing redevelopment project worth 95.3 billion won ($69 million) in Seoul's Guro District. The contract follows apartment construction orders the company secured in the second half of the year in Seoul's Mapo district, Incheon's Yeongjong Sky City and Namyangju, Gyeonggi Province, adding another housing project in the capital.
Xi S&D said in a regulatory filing on Oct. 19 that it was chosen as the contractor at a general meeting held to select a builder for the street-block redevelopment project around 451 Guro-dong. The project will create 265 apartment units in the area. The planned construction cost is about 95.3 billion won excluding value-added tax, equal to 6.87% of the company's revenue last year.
Xi S&D has continued to win orders for apartment and mixed-use residential buildings since the second half of the year. In July, the company disclosed contracts for a mixed-use residential project in Seoul's Mapo 3-3 district worth about 119.5 billion won and for new apartment construction on Block A18 in Incheon's Yeongjong Sky City worth about 132.7 billion won. The Mapo 3-3 district project will build apartments and neighborhood commercial facilities in the Nogosan-dong area of Mapo District.
In August, the company won a 281.7 billion won apartment construction order in Namyangju's Jinjeop 4 district. That project will create a total of 1,230 units, and the company is broadening its scope by taking on housing projects of more than 1,000 units alongside small and mid-sized redevelopment work.