▲ Teams up with HND TS and CMP Construction to develop premium mixed-use residential space in New Zealand

▲ Aims to secure a foothold in the New Zealand housing market by enhancing understanding of local business market and strengthening networks

Hyundai E&C has officially embarked on expanding its presence in the global housing construction market through a high-end residential complex development project in New Zealand.

Hyundai E&C announced that on Tuesday, September 16th, at its main office headquarters in Jongno-gu, Seoul, it had signed separate “Early Contractor Involvement (ECI) Agreements for The Strand Housing Development Project” with New Zealand investment firm HND TS and local construction company CMP Construction.

The signing ceremony was held with key officials from each company in attendance, including Kim Tae-hee, Head of the Building Division at Hyundai E&C; Kim Kyung-soo, Head of the Global Business Division at Hyundai E&C; Yaxun Zhang, Founder of HND Holdings; and Ronald Macrae, CEO of CMP Construction.

‘The Strand Housing Development Project’ is a venture to create a premium mixed-use residential space featuring four residential buildings, ranging from 7 to 10 stories above ground with 3 basement levels, totaling 219 units, near Takapuna Beach in the northeast of Auckland, New Zealand's largest city. As a project invested in and developed by HND Holdings, the parent company of HND TS, it will involve the construction of a high-end residential complex that harmonizes with the beautiful local environment, guided by meticulous planning in areas such as design and landscaping.

An ECI is a contractual method where the contractor participates in the project from the early design stages to ensure an optimal design and calculate the most efficient construction schedule and costs. This approach is focused on technical competence, making the contractor’s capabilities a key factor in the project's successful execution.

Based on this ECI agreement, Hyundai E&C will leverage its innovative design and construction know-how, specializing in high-end residential spaces, in cooperation with CMP, a top-tier local construction firm in the housing sector, and design firm ASC Architects. The company plans to bring differentiated residential value to the New Zealand market through K-Housing solutions adaptable to the local lifestyle, such as community facilities, solar panels, and electric vehicle charging stations.

During their visit to Korea, officials including HND Holdings Founder Yaxun Zhang and CMP CEO Ronald Macrae visited THE H Gallery, THE H ADELSTAR model home, and THE H Daechi Edellui Housing Complex. They had the opportunity to witness firsthand the essence of Korea's premium housing brand and experience the unique residential value offered by Hyundai E&C.

A Hyundai E&C official stated, “As the New Zealand real estate market shifts from small-scale, low-rise housing towards large-scale, mid-rise developments, this project is a symbolic venture that will allow us to prove the competitiveness of Hyundai E&C’s housing brand in New Zealand.” The official added, “Following our market entry earlier this year in partnership with New Zealand’s land and housing corporation (Kāinga Ora), our participation in this practical project will enhance our understanding of the New Zealand market and help us build a strong local network, while also solidifying the foundation for our presence in the New Zealand and broader global housing markets.”