30Gangnam redevelopment: Apgujeong5and Shinbanpo face off in contractor showdown
30Apgujeong5district and Shinbanpo19·25contractor selection meetings will be held. At Apgujeong5district, Hyundai E&C and DL E&C will compete, while Samsung C&T and POSCO E&C will face off at Shinbanpo.
On 30Apgujeong, a key redevelopment site in Seoul’s Gangnam area,5district and Shinbanpo19·25will hold contractor selection meetings simultaneously. At Apgujeong5district, the meeting 30morning 11will take place at Apgujeong High School. Both sites are seeing head-to-head contests involving major construction companies.
Apgujeong5district is a redevelopment project for Hanyang1·2apartments. The project is planned to comprise 1,397households. Construction costs amount to 1 trillion 4,960hundred million won.
The complex is designed with underground 5 floors and above-ground 68 floors. The project is being carried out mainly on the existing site. The association is comparing and reviewing the designs and project terms.
Hyundai Engineering & Construction proposed the complex name “Apgujeong Hyundai Galleria.” Its proposed design emphasizes views of the Han River from every home, offering 100% views, and 240also adopted a panoramic design. The company announced plans to introduce technologies in collaboration with Hyundai Motor Group, including autonomous shuttles, delivery robots and parking robots.
As a financing condition, Hyundai Engineering & Construction proposed a fixed interest rate equal to COFIX plus 0.49 percentage points. The company said it would cover any difference if its actual funding rate exceeded the proposed rate. The association is reviewing the proposal.
The relocation loan was proposed under an LTV condition of 100%. Payment of additional contributions may be deferred until up to 4 years after move-in. The general meeting will establish whether there is any disagreement between the association and the construction company.
DL E&C proposed “Acro Apgujeong.” The design was presented as an open layout with 3 sides. The association regards an increase in service area as a key evaluation factor.
The complex proposed by DL is planned to have 955 homes. The company said it had secured approximately 5,000㎡ of additional service area compared with the original plan. The final construction company will be determined by a vote at the general meeting.
Sources: 뉴시스 경제
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