BS Hanyang was selected as the preferred bidder on the 14th for the 'Miryang Bubuk A-1 and S-2 Block (BL) private participation public dwellings construction project' commissioned by the Korea Land and Housing Corporation (LH) and the 'Geoje Aju public support private lease dweller project' bid by the Housing and Urban Guarantee Corporation (HUG), it announced on the 15th.
The Miryang Bubuk A-1BL, S-2BL private participation public dwellings construction project, which is the first private participation project commissioned by LH in 2025, is a project to build 1,066 units of multi-family dwellings in Bubuk-myeon, Miryang, Gyeongsangnam-do, with a project cost of 290 billion won. A-1BL (New:Home general type, integrated public rental) will consist of 744 units, while S-2BL (New:Home general type, selective type) will consist of 322 units. Construction is scheduled to begin in December.
After being selected as the preferred bidder for the P-2 zone of the Pyeongtaek Goduk package-type bidding project last December, BS Hanyang has successfully secured the Miryang Bubuk project this year, thereby increasing its competitiveness in the private participation public dwellings construction market commissioned by LH.
The private participation public dwellings construction project is structured such that LH provides the land and private businesses handle the construction and sale, allowing private businesses to propose various project cost settlement methods such as profit sharing, priority settlement, and direct settlement. BS Hanyang proposed a direct settlement method, where LH settles the construction costs directly, minimizing risks and ensuring stable procurement of construction costs.
The Geoje Aju public support private lease dweller project, commissioned by the Housing and Urban Guarantee Corporation (HUG), is a project to create private lease dwellings for a total of 1,220 units, each with an exclusive area of 84 square meters, in Aju-dong, Geoje-si, Gyeongsangnam-do, with construction expected to begin in December.
The public support private lease dweller project is a construction type lease real estate investment trust project, where the housing & urban fund and the private sector jointly invest to acquire land and build and supply lease dwellings. The contractor's strength lies in the ability to secure stable construction costs without the risks of land acquisition and unsold units.
BS Hanyang recorded a backlog of 7 trillion won through public projects, including urban regeneration projects in ▲Goyang Haengsin Area 1-1 ▲Incheon Bugae Area 4, public projects such as ▲Uijeongbu Ujeong A-1BL apartment construction section 1, and social overhead capital (SOC) projects including ▲Busan Port Yanggok Pier and ▲Incheon International Airport cargo plane maintenance berth facilities. The company maintains stable management with a cost rate of over 80%, which is among the highest in the construction industry, through thorough risk management.
BS Hanyang is expected to generate significant revenue from successful projects such as approximately 3,000 units of 'Han River Suji on the Center' in Gimpo Bukbyeon, which completed 100% sales last year. Based on nearly 2 trillion won in new construction projects scheduled for the second half of this year, including the ▲Incheon Yonghyeon Hakik urban development project ▲Gimpo Pungmu Station area multi-family dwellings development project ▲Busan Hanyang Plaza mixed-use development project as part of the 'Suji' sales project, it anticipates sales revenue of 1.2 trillion won and an operating profit margin of around 5% in 2025.