Friday, November 17, 2006

Construction: South Korean construction company eyes $1.2 billion investment in UAE

Sungwon Corporation, one of the largest integrated construction companies in South Korea, plans to invest over $1.2 billion in property development in the Middle East, primarily in the UAE.

Sungwon Corporation Chairman Yoon-Soo Jeon, said, "We plan to invest over $1.2 billion in the region over the next three years. In addition to our first two projects at Business Bay and Culture Village, which are worth $450 million, we are looking into other projects, thanks to the support extended by Dubai Properties."

The Gulf Today, reports Sungwon has built over 130,000 apartments and 1,000 high-rise towers in South Korea, specialising in high rise mixed-use complexes, civil works, environmental plants and special projects, including championship golf courses, world class stadia and resorts.