Dongbu (005960) has won a housing redevelopment project in Toegyewon, Namyangju, in Gyeonggi Province, expanding its presence in redevelopment work across the greater Seoul area.
The builder said on the 23rd that it had been selected as the contractor for the Toegyewon District 4 housing redevelopment project, to be built around 82-13 Toegyewon-ri, Toegyewon-eup, in Namyangju.
The project calls for 557 apartment units and support facilities in buildings ranging from three basement levels to a maximum of 23 floors above ground. Total floor area is about 90,000 square meters, and construction costs are estimated at about 193.3 billion won ($139 million). Construction is scheduled to take roughly 42 months.
Dongbu has proposed naming the complex Centreville The Porta. "Porta" means door or gateway in Latin, a reference to Toegyewon's position linking Seoul and Namyangju. The company plans to apply specialized Centreville-brand designs to the complex's exterior, landscaping and community facilities.
The site offers access to Toegyewon Station on the Gyeongchun Line, the Seoul Ring Expressway and the Sejong-Pocheon Expressway. It also sits close to the Byeollae and Dasan new towns, allowing residents to share education, shopping and cultural amenities. Nearby projects under way include the Wangsuk new town, the redevelopment of a former military site and other improvement projects in the Toegyewon area.
Dongbu plans to use the contract as a springboard to expand use of the Centreville brand in redevelopment projects in Seoul and the surrounding region. Its past projects include Yeokchon Centreville Asterium Signature, Centreville Asterium Yeongdeungpo and Banpo Centreville Asterium.
"Through differentiated products and quality that reflect Toegyewon's location and future value, we will build a Centreville complex that represents the area," a Dongbu official said.
