Bando Construction wins W220.3b redevelopment contract in Uijeongbu

Bando Construction announced Monday that it has won the contract for the Gajaeeul zone redevelopment project in Ganeung-dong, Uijeongbu, valued at 220.3 billion won ($150 million). The project will transform the area into a residential and amenity complex of 698 units rising up to 35 stories.

Bando Construction was selected as the contractor at a general meeting of association members held Saturday, winning with broad support from the membership.

The site is expected to see significantly improved access to Gangnam once the GTX-C line is fully operational, with transfers available from the area. Elementary, middle and high schools are all within 500 meters of the complex, making it an attractive location for families with children. Eulji University Hospital is nearby, and a redevelopment project covering roughly 10,000 households in the broader Ganeung-dong area is also underway, pointing to further improvements in local infrastructure.

An association representative said the choice came down to Bando Construction's more than 50 years of residential construction experience, its Bando Ubora brand's innovative floor plans and community amenities proven across the greater Seoul area, and its track record in project specialization. "Particularly noteworthy was the high level of trust in the company's risk management, given its stable financial structure and eight consecutive years with zero serious workplace accidents," the representative said.

Bando Construction said it plans to use the Gajaeeul contract win as a springboard for more aggressive pursuit of redevelopment projects in Seoul and the broader metropolitan area. The company reorganized its redevelopment team in the first half of this year as part of efforts to sharpen its competitiveness in contract bidding.

"I would like to express our gratitude to the association for giving us this opportunity," said Kim Yong-cheol, chief executive of Bando Construction. "We will bring together our construction expertise and project capabilities to build a landmark complex that represents Uijeongbu, and we plan to take an active approach to redevelopment projects at key locations in Seoul and the greater metropolitan area."

Meanwhile, Bando Construction posted sales of 804.1 billion won and operating profit of 54 billion won last year.