Daewoo E&C on the 9th formalized its bid to take part in the redevelopment of the "Seongsu Strategic Maintenance Zone District 4" (Seongsu District 4) in Seongdong District, Seoul.
Daewoo E&C said it would "maximize the urban context and identity to build the unique value of 'the only Seongsu in the world' and present the essence of top-tier residential culture."
Seongsu District 4 is a large-scale maintenance project to build apartment housing and ancillary and welfare facilities—6 stories underground to 64 or 65 stories above ground, totaling 1,439 households—on a site of about 89,828 square meters across Seongsu-dong 2-ga in Seongdong District, Seoul, with total construction costs reaching 1.3628 trillion won. At the on-site briefing held on the 26th at the Seongsu District 4 association office, six builders attended, including Daewoo E&C, Lotte E&C, DL E&C, SK ecoplant, HDC Hyundai Development Company, and Kumho Engineering & Construction.
The industry widely expects a two-way contest between Daewoo E&C and Lotte E&C. Kim Bo-hyeon, president of Daewoo E&C, said, "Seongsu District 4 is a project site that can symbolically showcase Seoul's future residential trends," adding, "We will concentrate our companywide capabilities to unveil a top-tier residential masterpiece that captures the district's symbolism and future value."
The bid deadline to select the construction contractor is on the 9th of next month, and the bid deposit is 50 billion won.