Daewoo Engineering & Construction (E&C) will begin sales this month for Jangwi Prugio Mark One, a major apartment complex being built as part of the redevelopment initiative in Jangwi-dong, Seongbuk District, Seoul.
The development will consist of 23 residential towers, extending from five basement floors up to 35 stories, featuring a total of 1,931 units. Out of the total 1,032 units, ranging from 39 to 114 square meters, will be up for general sale, representing one of the largest private housing offerings in Seoul during the first half of the year.
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The project enjoys robust brand recognition through Prugio, its expansive residential community, easy subway access, and immediate closeness to an elementary school.
In contrast to numerous redevelopment initiatives that place general-sale units on lower levels, the majority of units available to the public in this complex are positioned on the fifth floor or above, a feature anticipated to attract end-users looking for improved views and living environments.
The complex is included in the larger redevelopment effort in Jangwi, one of the most extensive urban renewal projects in northern Seoul. Based on data from the Seoul Metropolitan Government, the project covers around 1.24 million square meters divided into 15 zones and is anticipated to house over 32,000 households upon completion.
The complex is a short walk from Dolgoji Station on Subway Line 6, offering easy access to key business areas, such as downtown Seoul and Sinsa-dong in the Gangnam District of southern Seoul.
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The project gains advantages from sizable nearby developments, especially near Kwangwoon University Station, where a mixed-use complex with residential, commercial, and cultural amenities is proposed.
Daewoo E&C highlighted that the site features a harmonious blend of education, shopping, healthcare, and green areas, with an elementary school next to the complex and a large urban park in close proximity.
Furthermore, interest in constructing liquefied natural gas (LNG) facilities is increasing as the Alaska LNG project progresses, following POSCO International’s recent preliminary agreement with lead developer Glenfarne Alaska LNG, indicating heightened Korean involvement and revitalized momentum in associated initiatives.
Leveraging this progress, Daewoo Engineering & Construction (Daewoo E&C) distinguishes itself among local construction firms for its exceptional achievements in LNG liquefaction plant development, an essential part of the LNG value chain, positioning it as a prominent Korean participant in the global LNG industry.
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Daewoo E&C earned industry acknowledgment when it secured the role of the first Korean lead contractor for Nigeria’s NLNG Train 7 project, which had been traditionally controlled by large global engineering, procurement, and construction (EPC) companies.
By obtaining a 40 percent share in the 5.2 trillion won initiative, Daewoo E&C made significant progress, solidifying its competitive position in a market traditionally dominated by a limited number of global competitors, including those from the US.