Dongbu Construction's new orders top 1 trillion won this year, up 138%

Dongbu Construction's new orders this year have surpassed 1 trillion won (approximately $657 million), as the company maintains a stable contracting base anchored in public works while broadening its portfolio with gains in private redevelopment projects.

The company announced Thursday it had been selected as the winning bidder for Package 7 of the Incheon Gyeyang A-19BL integrated public rental housing construction project, commissioned by Korea Land and Housing Corp. (LH).

The project will build integrated public rental housing on a site at 172 Dongyang-dong, Gyeyang-gu, Incheon. The development covers a land area of 21,121 square meters and a total floor area of 54,623 square meters, comprising six apartment buildings with 576 units in total.

The total contract value is approximately 79 billion won. Dongbu Construction will serve as the lead contractor, with a construction period of roughly 29 months from the ground-breaking date.

The award pushed Dongbu Construction's cumulative new orders for this year past the 1 trillion won mark — up about 138 percent from the same period last year.

The company said the result reflects its strategy of selective bidding focused on profitability and project viability, even as construction-sector uncertainty and cost pressures persist.

A notable feature of this year's order intake is its breadth across business segments. In civil engineering, Dongbu Construction secured contracts including the underground road construction on Hwarang-ro in the Goyang Changneung public housing district and Package 3 of the Gyeyang–Ganghwa expressway construction project.

On the building side, wins included Package 7 of the Incheon Gyeyang A-19BL integrated public rental housing project, as well as the Osan Osan 1BL, Incheon Geomdan AA31BL, and the Incheon Yeongjong A-57BL and A-63BL integrated private-participation public housing projects.

In housing and redevelopment, the company posted wins on the street-block housing improvement project at 977 Bangbae-dong and the Moa Town redevelopment at 493 and 494 Sinnae-dong.

The order mix also reflects a balance between public and private work. The company said it is maintaining a stable contracting base in public construction while selectively securing commercially viable projects in the private sector, particularly in Greater Seoul redevelopment.

Dongbu Construction has been steadily expanding its presence in the Greater Seoul small-scale redevelopment market. After winning consecutive Moa Town contracts in Gocheok-dong and Siheung 3-dong last year, it added the Sinnae-dong 493 and 494 Moa Town redevelopment project this year.

Going forward, the company said it will maintain its selective bidding approach across its core segments — civil engineering, building, housing and plant — with comprehensive reviews of profitability and project viability. It plans to strengthen its financial structure and earnings by balancing public and private order growth to better respond to market shifts, underpinned by cost management and risk control frameworks.

"Surpassing 1 trillion won in new orders this year is particularly meaningful because it reflects balanced performance across our major business segments — civil engineering, building and housing," a Dongbu Construction official said. "We will continue to build a sustainable growth foundation centered on profitability and financial soundness, while managing market volatility through a well-diversified project portfolio."

Meanwhile, Dongbu Construction posted sales of 1.7586 trillion won and an operating profit of 42.6 billion won last year. Sales rose 70.3 billion won from the prior year, and the company swung to an operating profit from a loss of 96.9 billion won the year before.