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Ssangyong Engineering wins order to build apartments in Gimpo

2008-05-27

A consortium led by Ssangyong Engineering and Construction Co. won an order worth 182.2 billion won (US$174.4 million) on May 27 to build apartments at the Ab-14 bloc of the Gimpo New City site. Ssangyong Engineering has a 40 percent stake in the consortium or 72.9 billion won. The contract, placed by the Gimpo Urban City Development Corp., is another achievement in a turnkey-based project for Ssangyong Engineering after winning an order to build the headquarters of Kibo Technology Fund.

In addition, the order is expected to improve Ssangyong’s brand awareness and corporate image as well as publicize its design and construction capability, by building its apartment, named “Yega” in a new city site nearby Seoul.

Meanwhile, the order calls for Ssangyong-led consortium to build 1,481 apartments with a total space of 224,776 square meters at the Ab-14 bloc of the Gimpo New City site. Construction will take 29 months.

Ssangyong plans to build various cultural spaces and communities at the apartment complex with four themes based on a ‘forest’ concept. Ssangyong plans to make the apartments a differentiated housing complex by introducing an eco-friendly solar-power facility, three in-building gardens and nine penthouses on top of the apartments.