Hyundai E&C wins building deals this month in Qatar, Singapore worth $1.3 bn

2020.01.14 14:02:15 | 2020.01.14 15:36:58

[Photo provided by Hyundai E&C Co.]이미지 확대

[Photo provided by Hyundai E&C Co.]

South Korea’s Hyundai Engineering & Construction Co. is off to a strong start in 2020 with its order book from Qatar and Singapore at nearly 1.5 trillion won ($1.3 billion) this month alone.

The Korean builder disclosed Tuesday it was tapped by Qatar’s Lusail Real Estate Development Company for the Lusail Plaza Towers’ Plot 3 contract worth 609.3 billion won. That follows the Jan. 2 confirmation on the award of the Plot 4 order for the same project for 613 billion won.

It would be responsible for half of the Lusail Plaza Tower’s four plots for an estimated revenue of 1.2 trillion won.

Shares of Hyundai E&C closed Tuesday unchanged from the previous session at 40,600 won.

The Plot 3 project involves the construction of a 70-story office building and affiliate facilities. Hyundai E&C aims to complete the project in 34 months, or by the end of 2022. The site is located near Lusail Iconic Stadium, which would be the flagship venue for the 2022 World Cup in Qatar.

[Photo provided by Hyundai E&C Co.]이미지 확대

[Photo provided by Hyundai E&C Co.]

Last week, Hyundai E&C and its Singaporean partner won a 270-billion-won order to construct a sports center in Punggol, Singapore. The Korean company’s stake is estimated to be around 190 billion won.

The six-story sports center will include outdoor facilities and occupy an area of 48,180 square meters. The companies are aiming to finish construction in 36 months, or by January 2023.

By Kim Hyo-jin

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