Thursday, March 06, 2008

Santeview project by Sungwon meets record sales within a day of launch

Sungwon Corporation has announced the record sales of their Dh.1.5bn Santeview project at Culture Village, within a day of its launch in the market.

This record sales carried out by the Group on Santeview and back-to-back contracts, worth Dh.700million, which include building an office tower at Business Bay, and a five-star luxury hotel apartment complex at Dubai Sports City, has been a feather on the cap for the company as a professional international developer and builder in the region, say top officials of the company.

The CEO of Sungwons Middle East Head Quarters and the General Manager of the Dubai branch, Chang-Pyo Park said "Santeview at the Cultural Village will include G+32 storey tower, and an G+40 storey residential tower. The initial two levels will exclusively comprise retail space inclusive of the best brands in the world. Other amenities such as the smart home and office features, hi-tech security features, contemporary design with an Arabic touch, intelligent space design, coupled with the strategic location adjacent to the Culture Village metro station, makes Santeview the most sought property development in the area."

Being one of the largest construction companies in South Korea, Sungwon, is also doing civil work projects in Qatar and Bahrain, including highways, roads and sewerage pipelines. At present the company is carrying out work on a $109mn massive flyover project at the Isa Town Gate Intersection in Bahrain.

Sungwon Corporation is planning an official launch of civil works contracting services in the UAE and to participate in other large infrastructure projects happening in the country. Apart from the Middle East region alone, Sungwon has made its presence felt in the construction and property development projects in various other countries outside South Korea, including South East Asia and Kazakhstan.

The company has also entered into an escrow account with HSBC Bank Middle East, to contribute towards the growth of the property sector in UAE and to consolidate the trust which the customers have posed in them.

Apart from this, Sungwon also owns golf courses, and is well-known as the builder of the FIFA World Cup Stadium in Korea, rails, roads, highways, subways, tunnels, bridges, ports and airports.

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