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DL E&C was selected as a construction company for ‘Housing Redevelopment Project in 5th District, Jung-dong’ worth KRW540.1 billion.
DATE 2023.07.24
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DL E&C was selected as a construction company for ‘Housing Redevelopment Project in 5th District, Jung-dong’ worth KRW540.1 billion.
Perspective View of ‘Acro Haeundae’ complex
-A total of 1,149-household apartment complex and premium shopping center in 6 buildings with a maximum height of 37 stories will be developed.
-Proposed ‘Acro Haeundae’ in collaboration with a world-class architectural design group
-Exceeded KRW1 trillion in cumulative orders for urban renovation projects in 2023, and carried out activities for winning orders in the second half of the year, based on financial stability
DL E&C’s cumulative orders for urban renovation projects exceeded KRW1 trillion in 2023. DL E&C announced on the 24th that it has secured the right to construct ‘Housing Redevelopment and Renovation Project in 5th District, Jung-dong, Busan’. The construction cost is approximately KRW540.1 billion and DL E&C will solely construct it.
Obtaining these orders enabled DL E&C to achieve a total of KRW1.1824 in cumulative orders for urban renovation projects in 2023, and to plan to conduct activities for winning orders in an active manner based on its industry-leading brand power and financial stability in the second half of the year.
‘Association of Housing Redevelopment and Renovation Project in 5th District, Jung-dong, Busan’ finally selected DL E&C as a construction company at ‘the general meeting for selecting a construction company’ held on the 22nd. Redevelopment project will transform Jung-dong District 5 into ‘a total of 1,149-household apartment complex and premium shopping center in 6 buildings with a maximum height of 37 stories’. Construction is scheduled to begin in June 2026 and be completed in October 2029
5th district in Jung-dong, located around 785-8, Jung-dong, Haeundae-gu, Busan, Korea, is an area that offers a view of Haeundae sea, transportation infrastructure, including Jungdong station on subway line 2 and Busan-Ulsan Expressway, as well as abundant living and educational infrastructure, including hypermarkets, department stores and hospitals. In addition, it is considered as one of areas benefited from favorable factor of various development, including the planned station connecting Shinhaeundae Station to KTX station, and development of Osiria Tourism Complex.
DL E&C plans to reflect its efforts for quality management and philosophy for securing the best residential quality into 5th District in Jung-dong. ‘Acro Haeundae’, which combines the high-end brand ‘Acro’ and Busan’s representative wealthy village ‘Haeundae’, will be developed in collaboration with Callison RTKL, a world-renowned architectural design group, and ‘SWA’, a landscape design group with a track record of many super-large projects, including Burj Khalifa and Disneyland. In addition to exterior design and landscaping reminiscent of overseas luxury resort, the Company plans to apply a building layout that secures the maximum number of ocean view households so that all members of Association can choose an ocean view, and to realize a true high-end residential complex as well as landmark with the application of the specialized floor plan, such as penthouses and terrace houses along with Club Acro, a high-class community facility.
An official from DL E&C said, “5th District in Jung-dong will be completed as a high-end residential masterpiece in Haeundae, which is perfectly equipped with infrastructure of transportation, living and education as well as a view of Haeundae sea. This year, we will actively target major urban renovation projects based on our brand power of Acro, e-Pyeonhansesang, and solid financial structure.”
DL E&C has obtained new orders in housing projects last year despite the economic recession of domestic real estate business. This year, it is continuing to be the strongest player in the housing projects, presenting a high goal for winning orders in the amount of KRW6 trillion.
Especially, DL E&C Consortium was selected as the preferred bidder for ‘Baekhyun MICE’ urban development project with a total project cost of KRW6.3 trillion in May, and has continued to obtain high-quality orders, while securing the rights to construct ‘Housing Redevelopment and Renovation Project in 5th District, Jung-dong’ this time, which is said to be the best redevelopment location in Haeundae, Busan.
