Hyundai Engineering & Construction 5trillion5610hundred million in Apgujeong3 District, Samsung C&T 2.1trillion 4wins contract for the district
Hyundai Engineering & Construction was selected as the contractor for Apgujeong3 District, and the association approved a negotiated contract with construction costs of 5trillion5610 hundred million won. Samsung C&T won the contract for Apgujeong4 District for 2.1 trillion won.
Hyundai Engineering & Construction3 said it was selected as the contractor for the Apgujeong Apartment District Special Planning Zone26 Reconstruction and Redevelopment Association on 5trillion5610 hundred million won.
Apgujeong3 District redevelopment will rebuild the existing 3,934 households as a complex with up to 65 floors and 5,175 households. Hyundai Engineering & Construction proposed the complex name “Apgujeong Hyundai Galleria.” The project plan includes an unmanned shuttle exclusively for residents, upscale community facilities, and a cultural space in collaboration with Hyundai Card.
Samsung C&T4 was selected as the contractor for Apgujeong District. The construction cost for the project was reported to be 2.1 trillion won. Samsung C&T secured construction rights in a key redevelopment district in Gangnam.
In this contractor selection process, 1·2the bidding round received another sole bid and was unsuccessful, so the contractor was selected through a negotiated contract. Hyundai Engineering & Construction said the project may change as it progresses and that it would disclose the confirmed details when the main contract is signed. Whether the association and the contractor sign the main contract will affect the project schedule and fund disbursements.