Bando E&C commences second housing project in US

South Korea's Bando Engineering & Construction Co. announced on Tuesday that it has embarked on its second housing development project, "The Bora 3020," in Los Angeles, the United States.

The Bora 3020 is Bando E&C's second self-developed project, where the company directly purchased the land in LA, overseeing the entire process from planning and construction to leasing management. Previously, the company successfully completed The Bora 3170 apartment construction and leasing in LA last year.

The Bora 3020 comprises a total of 262 units, spanning from basement 1st floor to 8th floor, along with commercial facilities. The complex is set to feature various recreational spaces and amenities such as an outdoor swimming pool, fitness center, clubhouse and rooftop.

Bando E&C plans to incorporate the Korean residential system, including Korean-style dressing rooms, pantries and wooden floor installation, which were proven successful in the first project.

Additionally, the company aims to introduce Korean residential culture to the US by applying domestic appliance-centric built-in systems and installing the first indoor screen golf practice range in a US apartment.

"The positive reception of Korean-style residential culture and various amenities in the first project, coupled with the rising popularity of K-culture, has boosted our confidence in US development projects," said John Choi, the CEO of Bando E&C's local partner in the US. He expressed the ambition to present an upgraded product in the second project, solidifying the image of K-apartments.

"We will not settle for the second project in LA but will expand our business to major cities in the US, including New York, showcasing the strength of the Korean apartment brand in the US housing market," said Kwon Hong-Sa, Chairman and CEO of Bando E&C.

Write to Eun-Ji Shim at summit@hankyung.com