Shindongah Construction has been selected as the builder for the Jayang District 2 redevelopment project in Daejeon.
The project will create 1,004 apartment units across 10 buildings ranging from three basement levels to 27 floors above ground, along with support and welfare facilities, on a site near 209 Jayang-dong in Daejeon's Dong-gu district, the company said on the 19th. Total construction costs are estimated at about 320 billion won ($223 million).
With this contract, Shindongah Construction has won about 670 billion won in redevelopment and rebuilding work this year. Earlier deals include a small-scale housing redevelopment project in Bisan-dong, Anyang, Gyeonggi Province, worth 50.3 billion won; a similar project in Pungnap-dong, Seoul's Songpa-gu district, worth 54 billion won; and the Beomcheon District 1 small-scale housing redevelopment project in Busan, worth 250 billion won. The builder is also accelerating its own development business, including the purchase of an apartment development site in Jinjeop, Namyangju, this month.
"We will selectively participate in high-quality projects not only in Seoul and the greater metropolitan area but also in major regional cities, expanding a stable base of orders," an official at Shindongah Construction said.