Hyundai E&C has been chosen as the builder for the reconstruction of Apgujeong District 2 (Shinhyundai phases 9, 11 and 12) in Gangnam District, Seoul.
According to the maintenance industry on the 28th, the reconstruction association for Apgujeong District 2 held a general meeting of association members the previous day at Kanglim Church in Sinsa-dong, Gangnam District, Seoul, and put the selection of Hyundai E&C, the preferred negotiation partner, as the builder to a vote. The agenda passed with a 90% approval rate (1,286 votes) of all attendees (1,431). There were 91 votes against, and 54 abstentions or invalid votes.
The Apgujeong District 2 reconstruction project will redevelop 1,924 households in Shinhyundai phases 9, 11 and 12, completed in 1982, into a complex with up to 65 floors and 2,571 households. The construction cost is 11.5 million won per 3.3 square meters, for a total of 2.7488 trillion won.
Earlier, Hyundai E&C was the sole bidder in two rounds of bidding to select a builder for Apgujeong District 2 and was chosen as the preferred negotiation partner. Based on the results of the general meeting that day, it will sign a private contract with the association.