HDC Hyundai Development Company and KyeRyong Construction Industrial Co. won a redevelopment project in Yongdu-dong, Daejeon, worth in the 600 billion won range. On the 7th, the Financial Supervisory Service said the two companies disclosed the previous day that they won the Yongdu-dong 3 redevelopment promotion zone redevelopment and maintenance project.
The project will build 16 apartment buildings with 1,991 households and ancillary community facilities, from four floors underground to 35 floors above ground, in the area of 56-53 Yongdu-dong, Jung-gu, Daejeon.
The total construction cost is 601.92219 billion won, of which Hyundai Development Company will receive 391.24942 billion won (65%) and KyeRyong Construction will receive 210.67276 billion won (35%) as construction fees.
The contract amount is 9.2% of last year's sales for Hyundai Development Company and 6.6% for KyeRyong Industrial. The construction period is 46 months from the date the commencement report is accepted after demolition is completed and the commencement report certificate is issued.