Kumho Engineering & Construction announced on the 8th that it has been selected as the preferred bidder for the 'Namyangju Wangsil 3-2 Private Participation Public Housing Construction Project' within the Namyangju Wangsil Public Housing District in Namyangju, Gyeonggi Province.
This project is located in the Namyangju Wangsil District, the largest among the third generation new towns, and involves a private participation public housing project where the Korea Land & Housing Corporation (LH) contributes the land and the private sector constructs and sells the dwellings. It is evaluated as a new housing supply model that embodies both public interest and business viability.
Kumho Engineering & Construction is participating as the leading company of a consortium with 52.5% equity, overseeing the entire project, alongside other co-construction partners such as Isu Construction, BS Hanyang, and ES AI.
The total project cost is 598.6 billion won, with the project sites being the Wangsil 2 District A-1 block and the Wangsil 1 District PM-3 block. The A-1 block is set to develop 812 public sale dwellings, while the PM-3 block will create 1,391 integrated public rental dwellings. The A-1 block is scheduled to begin construction in December 2025, aiming for completion in September 2028, while the PM-3 block is planned to start construction in December 2027, with a target completion in July 2030.
This project will feature Kumho Engineering & Construction's new residential brand, "ARTERA," which was launched last year. Upon completion of this project, it is expected that a large-scale Artera brand town with more than 2,200 units will be established, positioning it as a representative brand complex in the northeastern part of the metropolitan area.
A representative from Kumho Engineering & Construction noted, "The selection as the preferred bidder this time is a result of the recognition of Kumho Engineering & Construction's technology and stable project execution capabilities in the private participation public housing project," and added, "We will successfully create a complex that combines high-quality public housing and self-sustaining functions through collaboration with LH."
Meanwhile, Kumho Engineering & Construction has secured approximately 1.2 trillion won worth of private participation public housing projects, including this one. In May, it was selected as the preferred bidder for the 250 billion won 'Hannam Gyoesan A3 Block Private Participation Public Rental Housing Project.' Previously, in December 2024, it had secured the 310 billion won 'Gwangmyeong Hakwon S2·S3 Block Private Participation Public Housing Project.'