Samsung C&T's construction division announced on the 5th that it has signed a construction contract with the Shinbanpo 4 Reconstruction Maintenance Project Association.
Samsung C&T, after being selected as the construction company for the Shinbanpo 4 Reconstruction Project on March 29, finalized this main contract following speedy negotiations with the association.
The Shinbanpo 4 Reconstruction Maintenance Project Association previously announced the official start of the project as it completed the submission of the integrated review to the Seocho District Office on the 30th of last month.
The Shinbanpo 4 Reconstruction Project is expected to comprise a total of seven buildings with 1,828 units, ranging from three basement levels to 48 floors, on a site of 92,922 square meters in the area of 70, Jamwon-dong, Seocho-gu, Seoul. The construction cost is approximately 1.03 trillion won.
This apartment complex is located within 100 meters walking distance from the express terminal station, which is a transfer station for subway lines 3, 7, and 9. Additionally, it is considered a key center in the Banpo area, boasting excellent educational facilities such as Banwon Elementary School, Gyeongwon Middle School, and Cheongdam High School (planned), as well as various living infrastructures including Shinsegae Department Store, Newcore, and Seoul St. Mary's Hospital.
Samsung C&T suggested 'Raemian Heaven Banpo' as the new complex name.
Collaborating with SMDP, an American architectural design group that designed Raemian One Bailey, they have teamed up with world-renowned designers such as Ron Arad and Nicola Gallizia. Innovative designs with the titles of the best, largest, and first in the Banpo area will be applied in the sky community, atrium, and penthouses.
A representative from Samsung C&T said, "We will do our best to further enhance Shinbanpo 4, located at the center of Banpo, which leads Korea's residential culture," adding that they plan to strengthen the image that 'Banpo is Raemian.'