Daewoo E&C surpasses W5tr in urban redevelopment contracts after winning two new projects

Daewoo Engineering & Construction announced Tuesday that it was selected as the contractor for the Uijeongbu Ganeung Zone 4 redevelopment project and the Seoul Seongsan Moatown Zone 4 project on Saturday. The combined construction cost of the two projects totals about 715.3 billion won ($535 million), bringing the company's cumulative urban redevelopment contract value to 5.07 trillion won.

The Uijeongbu Ganeung Zone 4 redevelopment project will create a residential complex of 1,368 units across 10 buildings ranging from two below-ground floors to 39 above-ground floors in the Ganeung-dong area of Uijeongbu, Gyeonggi Province. The total construction cost is 464.7 billion won. Daewoo E&C has proposed naming the complex "Prugio Artive."

The exterior will feature a curtain-wall look, Prugio's signature side-wall design and a distinctive entrance gate, giving the complex a landmark appearance. The landscaping plan calls for a central plaza roughly twice the size of the original proposal, along with community amenities including a fitness club, golf club, sauna and table tennis courts. The Ganeung-dong area is being transformed into a new residential belt of about 8,700 units through urban redevelopment, and the area stands to benefit further from the planned GTX-C line and the nearby redevelopment of Camp Red Cloud.

The Seoul Seongsan Moatown Zone 4 project will build 685 units across seven buildings — ranging from four below-ground floors to 29 above-ground floors — along with ancillary welfare facilities in the Seongsan-dong 200-258 area of Mapo-gu. The total construction cost is 250.6 billion won. Daewoo E&C has proposed the name "Mapo Prugio Honors Royal" for the complex.

The company plans to apply Prugio's signature design across the exterior, landscaping, community spaces and interior systems to create a flagship residential complex for the neighborhood. Having already secured construction rights for Seongsan Moatown zones 1 and 3, Daewoo E&C will now extend its footprint to Zone 4, paving the way for a Prugio brand town of more than 2,000 units in the area. The company is also targeting the nearby Seongsan Siyeong apartment reconstruction project as a key contract to pursue, reinforcing its push to expand its urban redevelopment presence across Seongsan-dong.

Seongsan Moatown Zone 4 sits in a transit-oriented area around Mapo-gu Office station on subway Line 6, with strong access to the city center and surrounding areas via the Gangbyeon Expressway, Olympic Expressway and Inner Circular Road. The site is well-served by lifestyle infrastructure — including World Cup Stadium, Homeplus, Mapo Agricultural and Marine Products Market, Megabox and Mapo-gu Office — and is close to green spaces such as Maebongsan, Bulgwangcheon, Hongjecheon, Sky Park, Nanjicheon Park and Sangam Neighborhood Park.

Meanwhile, Daewoo E&C is also pursuing the Sinwol Siyeong reconstruction project and the GTX Geumjeong Station transit-oriented Zone 1 redevelopment project. The company has already been named the preferred negotiating partner for the Mokdong Complex 8 and Yeouido Hwarang apartment projects. In July, it won the construction contract for the Sangdo Zone 15 redevelopment project in Dongjak-gu, Seoul. "If we secure all of these contracts, we are on track to set an all-time record for urban redevelopment earnings," a company official said.