Hanwha Engineering and Construction Corp. is hoping to change the paradigm for luxury residential properties with its latest multipurpose building, Galleria Foret.

A member of the Hanwha Group since 1996, Hanwha Engineering and Construction ranks 11th in Korea in terms of construction capability, which takes into account a company’s experience, financial status and technical capabilities.

While the company’s portfolio spans across a wide range of fields from civil engineering to industrial plant construction and office buildings, the Galleria Foret project marks the latest in a series of multipurpose buildings properties that include both commercial and residential properties which have come to the local real estate market relatively recently.

Located adjacent to Seoul Forest in eastern Seoul, the Galleria Foret consists of two 45-story buildings. The company says the property will offer a living environment new to Korea.

Spread out over an area of nearly 1.16 million square meters, Seoul Forest is the largest park of its kind in Seoul. It took more than 230 billion won ($206 million) to develop as part of the city’s efforts to create a park akin to New York’s Central Park and London’s Hyde Park. The park is divided into five areas including a 220,000 square meter culture park, forested areas spanning 165,000 square meters, 70,000 square meter wetland and 33,000 square meters spread along the Han River.

The Galleria Foret’s two buildings house 230 individual properties, ranging from 233 square meters to 377 square meters in size, that are designed to offer a picturesque view over the country’s capital.

“The Han River, Namsan and Bukhansan are visible through three sides of the property, providing a panoramic view of Seoul,” a Hanwha Engineering and Construction official said.

The company says that in addition to the view, the Galleria Foret’s location also provides access to things only a few properties in Seoul can boast.

“Exiting from the complex, Seoul Forest is accessible without having to cross a road,” a Hanwha Engineering and Construction official said.

“Also, its proximity to the Han River allows residents to enjoy various leisure and sports activities such as cycling, windsurfing and waterskiing.”

Such unique conditions offered by the project’s surroundings have enabled the company to attract the services of a world-class architect and prospective owners despite the slowdown in the country’s real estate market.

The task of designing the interior of the property was overseen by the French architect Jean Nouvel, who according to the company attributed his reason for participating in the projects to the fact that the location offers environmental aspects not seen anywhere else in the world.

Such aspects of the Galleria Foret project have also appealed to home owners, and about 200 of the project’s 230 residential properties have already found owners, despite the fact that the properties will only become ready for them to move into in June next year.

With the project already proving to be a success, the company is operating a separate customer hotline (1600-0089) to deal with related queries.

Aside from Galleria Foret, the company has completed seven such projects and another similar project is under way in Incheon.

In other areas, projects the company has been involved in include the recently completed Incheon Bridge, more than 20 office buildings, several holiday resorts and golf courses. Hanwha Engineering and Construction was also responsible for building the expressway that links Suncheon, South Jeolla Province to Jeonju, North Jeolla Province and Jeonju to Daejeon, the last section of which was completed in late 1973.

The company has also built numerous industrial plants including chemical plants, waste treatment facilities and power plants both in Korea and in overseas markets.

Hanwha Engineering and Construction also has more than 50 apartment complexes under its belt, and is currently working on several projects including that for building an apartment complex in Sejong City.

The company has also carried out a number of urban development projects in Korea and the United States.

By Choi He-suk  (cheesuk@heraldcorp.com)