Lotte Construction has secured the construction contract for the redevelopment of Seongsu Strategic Maintenance Zone District 4 (Seongsu District 4) in Seongdong-gu, Seoul. The construction cost is 1.3628 trillion won.
According to the maintenance industry on the 5th, the Seongsu District 4 redevelopment association held a general meeting on the 5th to select a contractor and finally chose Lotte Construction as the contractor. Lotte Construction received 449 of 618 valid votes, beating Daewoo Engineering & Construction.
The Seongsu District 4 redevelopment project will build multifamily housing and ancillary welfare facilities with 10 buildings and 1,439 households, from basement levels to 64 stories above ground, on a site of about 89,828 square meters in Seongsu-dong 2-ga, Seongdong-gu. The total construction cost is 1.3628 trillion won.
Seongsu District 4 is adjacent to Seongsu Station on Subway Line 2 and Seoul Forest Station on the Suin-Bundang Line, and is considered a key project site within the Seongsu Strategic Maintenance Zone thanks to its location that allows supertall development along the Han River.
The selection of the contractor this time came after twists and turns, including the process being nullified once due to controversy over promotion guidelines and procedures during the bidding.
With this order, Lotte Construction's cumulative orders for urban maintenance projects this year have increased to about 2.8541 trillion won.