Hyundai E&C has won the reconstruction project for the Busan Yeonsan 5 District.
The Hyundai E&C and Lotte Construction consortium was selected as the construction company at the general meeting for the Busan Yeonsan 5 District reconstruction project held on the 23rd, it noted on the 24th.
The Busan Yeonsan 5 District reconstruction is a project covering an area of 20,089.36 square meters located at 2220 Yeonsan-dong, Yeonje-gu, Busan. It is expected to include a total of 2,803 residential units in 14 buildings, with 4 basement levels and 45 above-ground floors, along with community welfare facilities. The total construction cost is 1.4447 trillion won, with Hyundai E&C holding a 53% equity stake and Lotte Construction holding 47%.
The Hyundai E&C consortium proposed 'Hillstate Lotte Castle Centum Sky' as the name for the Busan Yeonsan 5 District reconstruction complex. It aims to complete the highest natural view complex exceeding the value of Centum, a symbol of a cutting-edge future city, to present a new skyline for Busan. To this end, it has partnered with the world-renowned architectural firm SMDP to offer landmark design.
The complex has improved views of Suyeong River, Jangsan, and Baesan through a tower-oriented layout plan. It ensures that all members can enjoy views of the sea, river, and mountains. The plan aims to provide optimal view premiums for all units by applying various view-specialized floor plans such as three-sided open specialization, pocket terraces, and penthouses.
A sky community being developed on the 45th floor will become a space where the beautiful open scenery and the complex's iconic views blend together. Plans are also underway to create a sky lounge and rooftop lounge on the sky bridge.
Hyundai E&C secured 6.0613 trillion won in urban regeneration projects last year, marking six consecutive years at the top of winning amounts. This year, it plans to solidify its position as a leading company in the housing market, focusing on key projects such as Gaepo Jugong 6 and 7 Complex, Apgujeong 2 District, and Seongsu 1 District.
Hyundai E&C is the construction company that built the 'Apgujeong Hyundai Apartment' 50 years ago in 1975. To facilitate this Apgujeong reconstruction, it has applied for the 'Apgujeong Hyundai' trademark. In December 2023, it will establish a task force (TF) team, which has recently been expanded and restructured into the 'Apgujeong Reconstruction Sales Team.' It is enhancing customized strategies for each project site by forming dedicated organizations, including one for Seongsu 1 District.
A representative from Hyundai E&C noted, 'With the first urban regeneration project win this year, we have taken the first step toward maintaining our position at number one for seven consecutive years,' adding, 'We will do our best to create a new landmark in Busan and continue to pursue projects this year with a genuine attitude toward our members in key project sites.'