Samsung C&T and Hyundai E&C secure reconstruction contracts in Shinbanpo and Apgujeong

30The redevelopment associations held general meetings and completed the contractor selection process. For Shinbanpo19·25the integrated reconstruction project, Samsung C&T’s construction division was selected as the contractor. For Apgujeong5district, Hyundai E&C was selected as the contractor.

The Shinbanpo project is a redevelopment project that combines Shinbanpo19 phase and4 other complexes. After reconstruction, it will become a total of614 households. The estimated construction cost presented by the association is4,434 hundred million won.

Samsung C&T proposed a design that would give all association members a view of the Han River. Its financing terms included fully responsible funding for project costs and a loan-to-value (LTV) ratio for relocation loans of100% . It also included a plan to pay the contribution100% at move-in.

Apgujeong5 district’s existing Hanyang1·2 is being rebuilt into 1,397 units. Construction costs alone amount to 1 trillion4,960 billion won. The association selected Hyundai Engineering & Construction after a competitive bidding process.

All households 100% Han River views, and 240 also adopted panoramic designs. In collaboration with Hyundai Motor Group, it also proposed introducing futuristic residential technologies, including autonomous shuttles, delivery robots, and parking robots. The complex is named “Apgujeong Hyundai Galleria.”

Both projects are notable for having proceeded through competitive bidding. Although rival bidders, including POSCO E&C and DL E&C, offered their own terms, the association members voted differently. Design finalization and sales plans remain to be completed.