Jamsil Els, regarded as one of the flagship apartment complexes in Jamsil-dong, Songpa-gu, Seoul, is moving to launch a "new-concept remodeling" (major refurbishment) that maximizes living efficiency without full demolition.
According to the real estate industry on the 22nd, the residents' representative council of the Jamsil Els apartment complex will hold the 9th regular residents' representative meeting for December on the 23rd and plans to table 11 agenda items for discussion, including a "proposal to conduct a survey on the Jamsil Els new-concept remodeling."
If the item passes a vote, a full-scale survey on the new-concept remodeling will be conducted among Jamsil Els residents.
A local real estate industry official in Jamsil said, "At the regular residents' representative meeting, we plan to submit an item to conduct a new-concept remodeling survey targeting the Jamsil Els building representatives," adding, "Among the three flagship Jamsil complexes, the 'Elite' (Els, Resiense, Trizium), 'Resiense' is carrying out Korea's first community facility remodeling, and voices are growing among residents that Els should also push for a new-concept remodeling."
The new-concept remodeling that Jamsil Els is moving to start preserves the structural frame while carrying out a major refurbishment of the complex, and is relatively faster than conventional reconstruction or remodeling, which come with many constraints.
Samsung C&T and Hyundai E&C this year designated new-concept remodeling as a new business and are targeting it as a niche in the maintenance market.
Samsung C&T's construction division's "Next Remodeling" keeps the existing frame while applying new interior and exterior designs and adding smart home functions and premium community services to deliver an apartment with high-end performance. Samsung C&T plans to expand its remodeling business to complexes built in the early to mid-2000s that feature upgraded specifications but offer lower service levels, such as community facilities, compared with recent new builds.
Hyundai E&C's "The New (NEW) House" carries the meaning of completing projects without relocation (New), through an easy process, within 2 years. Its hallmark is that residents can maintain their daily lives without moving while remodeling proceeds in parallel. It presented a practical strategy of analyzing resident foot traffic to ensure safety during construction and minimize inconvenience. It is initially targeting complexes 15 to 25 years after completion, where extensions or full demolition are practically difficult.
Both Samsung C&T and Hyundai E&C plan to target apartment complexes in the Gangnam area built in the early to mid-2000s. That makes it increasingly likely that Jamsil Els will become the first battleground. Completed in 2008 and now in its 18th year, the Jamsil Els complex is a large-scale development with 72 buildings, up to 34 stories, and 5,678 households.
A maintenance industry official said, "Because Jamsil Els is considered a landmark complex in Jamsil, it is a site Samsung C&T and Hyundai E&C cannot give up if they are to expand their new-concept remodeling business," adding, "If the Jamsil Els remodeling moves into full swing, the two builders will engage in very fierce competition."