Samsung C&T and Seobu T&D signed a memorandum of understanding (MOU) to promote residential facilities related to the development project of the urban advanced logistics complex in Sinjeong-dong, they announced on the 10th.
The Sinjeong-dong urban advanced logistics complex development project is aimed at developing a total area of 104,244 square meters of the Seobu Truck Terminal site in Sinjeong-dong, Yangcheon District, Seoul, into logistics, distribution, commercial, and residential facilities. The companies have signed an agreement to construct about 980 housing units on a 31,260 square meter site in the first phase.
Samsung C&T is currently conducting alternative design and Pre Construction Services for the residential facilities of the Sinjeong-dong urban advanced logistics complex development project. Through this agreement, it plans to cooperate with Seobu T&D on the main construction and sales consulting work.
A Seobu T&D official noted, "The Seobu Truck Terminal site will transform into the next-generation logistics hub in the western part of Seoul, incorporating logistics, distribution, commercial facilities, and the best residential facilities based on this agreement," adding, "We will continuously cooperate with Samsung C&T, which has been collaborating since the early stages of the project, to successfully complete the Sinjeong-dong urban logistics complex."
He added, "After constructing the housing units, we plan to develop logistics, commercial, and support facilities on the remaining site."