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Both of Ssangyong’s first & last orders this year are from Incheon
2010-12-15
Ssangyong E&C is to redevelop Sangok, Incheon. Total construction will be 776 apartment units.
The company took 4 orders in Seoul, Suwon and Incheon. Both the first and last projects this year are from Incheon.
This year’s orders worth 450 billion won, are 100 billion won more than the original target. Ssangyong is to focus on redevelopment business in & around Seoul.
Ssangyong E&C (President & CEO Byung Ho Kim) recently (Dec 11) announced that it took an order for the re-development project for the Incheon Sangok 2-2 district for 123.5 billion won.
The project is about transforming 179 Sangok-dong, Bupyeong-gu, Incheon into ten 20-story apartment buildings with two basement levels accommodating 776 units including 82 units for 36.68㎡ (floor space), 60 for 51.92㎡, 220 for 59.92㎡, 380 for 84.92㎡, and 34 for 114.92㎡. The redevelopment project is expected to start in 2013.
The Sangok-dong area, where redevelopment for 10,000 households into 6 districts is performed at the moment, has many advantages for future residents as a university, a large-scale hospital and parks are planned to be built there.
In addition, prestigious high schools such as the Incheon Foreign Language High School, Seil High School and Myungshin Girls’ High School ranked 2nd to 4th respectively at the recent academic achievement high schools evaluation in Incheon, are located near-by. Seoul Metro No.7 line will also be extended there and the area has beautiful scenery in the form of Wonjeok Mountain.
A Ssangyong E&C official said, “Both the first and last orders that we took this year are from Incheon. It’s an interesting coincidence.” He added, “The redevelopment project orders we took, are worth 450 billion won this year, which is about 100 billion won more than the original target. Keeping this momentum, we plan to enhance our business for redevelopment projects in and around Seoul next year.
Ssangyong E&C took four development projects in total this year Seoknam #6 in Incheon in May, Hyochang #4 in Seoul in June, Suwon 113-10 in August and Sangok#2-2 in Incheon in December.