[Alpha Biz= Paul Lee] Hyundai Engineering & Construction has secured its first city redevelopment project contract of 2025, having been selected as the construction company for the Busan 5 District redevelopment project.


Hyundai E&C, in a consortium with Lotte Engineering & Construction, was chosen as the construction partner during the general assembly of the Busan Yeonsan 5 District Reconstruction Association, announced on Monday.


The Hyundai E&C consortium plans to build 14 apartment buildings with 4 underground floors and 45 above-ground floors, comprising a total of 2,803 units, along with auxiliary facilities on a 208,936.6 m² (approximately 63,203 pyeong) site in Yeonsan-dong, Yeonje-gu, Busan.


The total construction cost is estimated at 1.44 trillion KRW, with Hyundai E&C holding a 53% share and Lotte E&C holding a 47% share.


For the name of the district development, Hyundai E&C proposed "Hillstate Lotte Castle Centum Sky," collaborating with the world-renowned architecture firm SMDP to create a landmark design.

 

 

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