Samsung C&T has signed a construction contract for the residential redevelopment project in the Hannam 4 reorganization promotion zone.
Samsung C&T said it signed the contract with the Hannam 4 redevelopment project association at the association's office located in Yongsan, Seoul, on the 30th.
Since being selected as the contractor for the Hannam 4 redevelopment project on Jan. 18, Samsung C&T has finalized the contract after approximately six months of close consultations with the association.
The Hannam 4 redevelopment project is a plan to develop a large complex consisting of 35 buildings and 2,360 dwellings on a 160,258 square meter site located in Bogwang-dong, Yongsan-gu, Seoul, with a height of 7 underground floors and 20 above ground floors. The construction cost amounts to 1.5695 trillion won.
Additionally, it is noted for its excellent accessibility to major business areas such as Gangnam, Yeouido, and Jongno, and its geographical features adjacent to the Han River maximize the premium views.
Samsung C&T proposed the new project name 'Raemian Glow Hills Hannam.' It unveiled a unique exterior design completed in collaboration with the globally renowned design firm 'UN Studio.' The project incorporates unprecedented differentiation design, including the largest flat park and community facilities in the Hannam area.
In particular, it maximized premium views by ensuring scenic views of the Han River for 100% of the 1,166 association members. The variable structure design of Samsung C&T's future residential technology 'Next Home' has also been reflected, allowing for various floor plans based on unit orientation, views, and residents' lifestyles.
A large-scale flat park of over 10,000 pyeong with themes harmonized with the surrounding environment will also be created in each of the five blocks that make up the Hannam 4 area. In addition, a community of unparalleled scale, with a total of 111 types and 175 programs catering to various age groups, covering 5.03 pyeong per household, will include features such as ▲an aqua sports park ▲a healing sauna ▲a golf club ▲a library lounge.
A representative from Samsung C&T said, "Based on Raemian's accumulated project management capabilities, we will proceed with the project as quickly as the association members desire, and we will create the best landmark complex along the Han River."
The Hannam 4 redevelopment association is aiming to receive project implementation approval in September and hold a management disposal general meeting in the second half of next year, beginning with this main contract.