Daebo Construction wins W210b reconstruction project in Daejeon

Daebo Construction has won the Daejeon Gaodong Zone 1 reconstruction project, valued at approximately 210.7 billion won ($159 million).

The company announced Monday that it was selected as the contractor at a general assembly of the Gaodong Zone 1 reconstruction project association held Saturday.

The project site is located at 210 Gaodong, Dong-gu, Daejeon. The development will replace 460 existing units with a residential complex of eight buildings rising up to 35 above-ground floors over two below-ground levels, comprising 700 units along with ancillary community facilities. Total construction costs are estimated at approximately 210.7 billion won.

Daebo Construction has been expanding into urban redevelopment projects. After securing contracts for the Gyeyang-Ganghwa Expressway and the Asan Tangjeong 2 urban development project in September, the company's cumulative orders for this year surpassed 1 trillion won. It has since bolstered its organization and workforce to further pursue urban redevelopment work.

The company has grown primarily through public construction projects and launched its apartment brand "hausD" in 2014. Its track record in private and public apartment construction now exceeds 70,000 units.

"We will bring to Gaodong Zone 1 the technical expertise built on a track record of more than 70,000 private and public apartment units," a Daebo Construction official said. "We plan to put greater effort into urban redevelopment projects going forward."

Daebo Construction ranked 47th in this year's construction capability assessment, climbing five places from the previous year, while placing 27th in technical capability and 39th in construction performance.