HDC Hyundai Development (294870) has secured the construction rights for the Yeonsan 13 housing redevelopment project in Busan.
The builder said on the 6th that it won the 281.2 billion won ($204 million) contract after taking 84% of the vote at the project association's general meeting to select a contractor.
The Yeonsan 13 redevelopment calls for apartment buildings and community facilities ranging from three basement levels to a maximum of 34 stories above ground. The site sits within walking distance of City Hall Station on Busan Metro Line 1 and Mulmangol Station on Line 3, giving it access to two subway lines.
HDC Hyundai Development is also moving to expand its redevelopment order book. The company recently submitted the only bid in the contractor selection for the Neunggok 3 district in Goyang, Gyeonggi Province, raising the prospect of winning the work through a negotiated contract.
"We will complete Yeonsan 13 as a landmark that represents Yeonje District," an official at HDC Hyundai Development said. "We will pursue a linked contract with the adjacent Yeonsan 16 district to secure the premium of a large-scale complex."
