Keukdong Engineering & Construction has been selected as the builder for a small-scale housing redevelopment project in the Siheung-dong 1003 area of Seoul's Geumcheon District, carried out with the participation of Korea Land & Housing Corporation (LH).
The company said on the 20th that it was chosen as the final contractor at a general meeting held on the 17th to select the builder for the project.
The project will redevelop aging housing in the Siheung-dong 1003 area. Under the Seoul city integrated review plan, it calls for four buildings ranging from four basement levels to 20 floors above ground, comprising 231 apartment units along with community facilities. It will proceed as a public-participation redevelopment project with LH serving as a co-developer. Keukdong said the outcome reflected a "two-track" strategy that combines risk management through public-participation projects with stronger product appeal drawn from private-sector technology and brand power.
Ahead of the builder selection, Keukdong proposed to the redevelopment association a specialized design plan called "The K-House," aimed at upgrading the complex and improving residential convenience. The company said it won support from association members by highlighting its accumulated construction experience, financial structure and housing products.
"We will concentrate our long-held expertise and technology to transform the Siheung-dong 1003 area into a premier residential complex representing southwestern Seoul," a Keukdong official said. "We will continue to focus our order capabilities on profitable, high-value redevelopment projects in Seoul and the greater capital area, including LH-participation projects."