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Samsung C&T Nears 10 Trillion Won Urban Renewal Orders
Samsung C&T edges closer to first-ever 10 trillion won in annual urban renewal orders as Hyundai E&C's eight-year streak faces challenge.
In brief
Samsung C&T edges closer to first-ever 10 trillion won in annual urban renewal orders as Hyundai E&C's eight-year streak faces challenge. Samsung C&T is expected to surpass 10 trillion won in annual urban renewal orders for the first time, narrowing the gap with Hyundai E&C's 12.7315 trillion won lead. Originally…
Samsung C&T secures Yeouido Siheom Apartment reconstruction
Samsung C&T secured construction rights for Yeouido Siheom Apartment reconstruction in Seoul's Yeongdeungpo District, raising its annual order tally to 9.4986 trillion won (approximately $7.2 billion).
Samsung C&T's order performance accelerates
Samsung C&T has picked up pace by landing two Yeouido reconstructions and Seongsu District 3 redevelopment, with potential to break 10 trillion won mark by year-end.
Hyundai E&C leads with 12.7315 trillion won
Hyundai Engineering & Construction leads with 12.7315 trillion won (approximately $9.6 billion) in cumulative orders, having secured Apgujeong District 3 and 5 reconstructions in Seoul's Gangnam District.
Hyundai E&C bids for eighth straight year
Hyundai Engineering & Construction is bidding to hold the No. 1 spot for an eighth consecutive year with the Yongsan Hangang-ro district project.
Year-end projects narrow gap between rivals
Depending on year-end contractor selections worth 12.6922 trillion won (approximately $9.6 billion), the gap between Samsung C&T and Hyundai E&C could narrow to around 600 billion won (approximately $451.8 million).
Samsung C&T targets 12.7198 trillion won
Samsung C&T could reach 12.7198 trillion won (approximately $9.6 billion) by securing Mokdong Complex 13 and Changwon Yongho District 1 projects.
Hyundai E&C targets 13.3408 trillion won
Hyundai Engineering & Construction could reach 13.3408 trillion won (approximately $10.0 billion) by securing Yongsan Hangang-ro district project.
Mid-tier rankings shift
GS Engineering & Construction could approach 9 trillion won (approximately $6.8 billion) if it secures Mokdong Complex 12, Doksan District 2 and Yeouido Samik and Eunha projects.
DL E&C could vault to sixth
DL Engineering & Construction could more than triple its orders to 4.1145 trillion won (approximately $3.1 billion) by securing Seongsu District 2 and Gwangmyeong Haan Jugong Complex 9.
Industry analysts warn of market polarization
Industry analysts warn that market polarization could deepen as mid-sized builders find fewer openings to compete in renewal projects at prime Seoul locations.
The headline
Samsung C&T is expected to surpass 10 trillion won in annual urban renewal orders for the first time, narrowing the gap with Hyundai E&C's 12.7315 trillion won lead.
