GS Engineering & Construction was the sole bidder in the tender to select the Sigongsa for the redevelopment project of Seongsu Strategic Maintenance Zone District 1 (Seongsu District 1) in Seongdong District, Seoul.
According to the Seongsu District 1 redevelopment association on the 20th, GS Engineering & Construction was the only bidder in the tender to select the Sigongsa for Seongsu District 1 that closed at 2 p.m. that day.
Under the Urban and Residential Environment Improvement Act, selecting the Sigongsa is in principle by competitive bidding, and if a sole bid leads to two or more failed tenders, it can be switched to a private contract. The association plans to issue a re-bid notice on the 23rd and hold a site briefing on the 3rd of next month.
The Seongsu District 1 redevelopment project is a plan to build apartments and ancillary and welfare facilities—4 basement levels to 69 above-ground floors, 17 buildings, and 3,014 households—on a 194,398-square-meter site around 72-10, Seongsu 1-ga 1-dong. The construction cost is 11.32 million won per pyeong (3.3 square meters), with a total construction cost of 2.154 trillion won. It is the largest among the four districts in the Seongsu Strategic Maintenance Zone.
Earlier, on the 19th, GS Engineering & Construction submitted bidding documents to the association and paid a bid deposit of 100 billion won. It proposed "Rivenique Xi" as the complex name.
At the briefing session for selecting the Sigongsa held on Dec. 30 last year, four companies, including GS Engineering & Construction, Hyundai Engineering & Construction, HDC Hyundai Development Company, and Kumho E&C, attended. Hyundai Engineering & Construction, which had been weighing participation, ultimately decided not to take part.