Hyundai Engineering and Construction (Hyundai E&C) won overseas orders worth 1.5 trillion won in January alone, attaining a series of large construction projects in Qatar and Singapore.
Hyundai E&C said on Jan. 14 that it has received a letter of authorization (LOA) for the construction of the Lusail Plaza Tower PLOT3 worth 609.3 billion won from the Qatar Real-Estate Development Company.
Hyundai E&C on Jan. 2 won a 613 billion won order to build the Lusail Plaza Tower PLOT4, which opened its first overseas order for the year. Until this construction, it has received $1.06 billion in orders from Qatar only.
The Lusail area is the venue for the 2022 World Cup finals in Qatar, where Hyundai E&C will be in charge of building large buildings following the ongoing highway construction, which will create a landmark for the region at the same time.
The construction of the Lusail Plaza Tower PLOT3 is a project to build adjacent auxiliary facilities such as office buildings and shopping districts with five stories underground to 70 stories above the ground in the Lusail City Financial District in Lusail City.
With the entire project made up of four PLOTs, Hyundai will carry out half of the project. The construction period is 34 months after the start of construction, and the goal is to complete the construction at the end of 2022.
On Jan. 7, it also received LOA from Sport Singapore, the Singapore sports authority, which is worth $230 million. The deal was jointly won with a local company, and Hyundai took $160 million (about 190 billion won).
The project is to build a sports center on the first floor below the ground to sixth floors above the ground and an outdoor stadium for the welfare of residents in the Punggol area on the northeast coast of Singapore.
The site area is 48,180 square meters and the total floor area is 123,617 square meters. It will be completed in January 2023, 36 months after the start of construction.
