HDC subsidiary Ipark Hyundai Industrial Development wins 377.7 billion won construction contract for Oncheon 5 district redevelopment in Busan
HDC subsidiary Ipark Hyundai Industrial Development has signed a construction contract for the Oncheon 5 district redevelopment project in Busan Dongnae-gu. The contract amount is 377.7 billion won excluding VAT, representing 9.1% of the 2025 consolidated revenue.
The project involves constructing 6 apartment buildings with 902 units and ancillary facilities. The contract period is 38 months from the actual start of construction.
Contract conditions may change due to permits and project progress. Payment will be made from sale proceeds of the apartments.
[AI Summary]This large contract win by a subsidiary is expected to contribute to HDC's future revenue growth. However, redevelopment projects carry permitting risks and pre-sale market volatility. The share price impact is neutral, but the contract positively supports long-term growth.
KOSPI Filing Information
Conclusion of Single Sales/Supply Contract (Major Management Matters of Subsidiary)