Lotte E&C, Seongsu4District deposit 500hundred-million-won cash paid in advance
Lotte E&C has 2026-05-21 Seongsu4District redevelopment bid deposit 500hundred million won in full in cash. The general meeting to select the construction company is scheduled for 2026-06-27.
Lotte E&C has 2026-05-21 Seongsu Strategic Redevelopment Zone 4District redevelopment construction bid deposit 500hundred million won in full in cash. The advance payment was made one day before the deposit deadline. A company representative said it would propose business terms that put the interests of the association members first. Lotte E&C is participating in the bid.
Seongsu4District is a project to build apartments and ancillary facilities with up to 64 above-ground floors. The complex is planned to comprise a total of 1,439. The site is in the Seongsu-dong area of Seoul1. The project is classified as one of the large-scale redevelopment projects along the Han River.
The project's construction cost is recorded at 1 hundred million won3,628. The general meeting to select the construction company is scheduled for 2026-06-27. The association issued a 12th bidding announcement in 1. This advance payment was made one day before the deadline.
The previous 1round of bidding was reportedly marred by individual promotional activities and violations of the proposal rules as Lotte Engineering & Construction and Daewoo Engineering & Construction took part. Because of this issue, 1round of bidding was annulled. Since then, the schedule and procedures have been adjusted between the association and construction companies. The participating companies took part in the bidding again under the re-announcement procedure.
The final deadline for payment of the bid bond is 2026-05-22 a.m. 11 o’clock. Lotte Engineering & Construction submitted the bond on the day before the deadline. The bond is a procedural requirement that formalizes the intention to participate in the bidding. The association is proceeding with the contractor selection process.21day. The bond is a procedural requirement that formalizes the intention to participate in the bidding. The association is proceeding with the contractor selection process.
Lotte Engineering & Construction said it would work with global partners on design and branding, among other areas. The company said it would develop Seongsu4district into a complex that represents South Korea. The contractor selection result and the association’s resolution are still pending. Whether the project proceeds will be determined according to the schedule.