On May 19, DL E&C held a presentation at the promotional center for Apgujeong 5 District (Apgujeong Hanyang 1st and 2nd phases) located in the Taeseung Building in Sinsa-dong, Gangnam, Seoul, where they unveiled their proposal, 'Acro Apgujeong.'
During the presentation, Shim Jae-seok, head of the urban redevelopment project team at DL E&C, stated, "'Acro Apgujeong' will achieve first place in relocation, first place in occupancy, and first place in market value," adding that the focus is on the structural quality and essence of the apartments rather than just their appearance.
Following the 30-minute presentation, attendees gathered around a large model of the complex displayed in the center of the promotional center. The model depicted the future of Apgujeong 5 District, which will be reconstructed into a 6-story underground and 68-story above-ground complex with a total of 1,397 units. DL E&C emphasized that all units will be oriented southward, facing the Han River.
Throughout the presentation, DL E&C highlighted 'specialized design' as a key competitive advantage. Of the 1,397 units, 1,293 will be designed as specialized units, ensuring that all 1,232 members can occupy at least one unit with specialized features.
A notable differentiator is the '244-pyeong super penthouse,' which will occupy the top three floors of the building, making it the largest in the entire Apgujeong 2nd, 3rd, and 4th districts, according to DL E&C.
A DL E&C representative remarked, "The existence of the super penthouse itself elevates the overall value of the complex," asserting their intention to secure the top-tier complex in Apgujeong, similar to the Acro River Park in Banpo.
Throughout the presentation, DL E&C continued to challenge Hyundai Engineering's proposal. They claimed that Hyundai's assertion of "100% Han River views for all units" is misleading, stating, "Only 67 units will have curved specialized designs," and emphasized the need to evaluate the actual views.
DL E&C also criticized Hyundai's proposed aluminum sheet exterior finishing as a "cheap material," asserting that they will use high-quality ceramic panels that are 30-60% more expensive, enhancing durability and resistance to pollution. They noted that Hyundai had previously proposed ceramic panels for the Apgujeong 3 District.
They released comparative data on the performance requirements for multi-family housing, claiming that they received higher ratings than Hyundai in most categories, including physical lifespan, concrete design strength, fire resistance, and sound insulation. They also highlighted that, according to statistics from the Ministry of Land, Infrastructure and Transport's Dispute Mediation Committee, they have had zero official defect cases since 2023.
Financial conditions were also a key focus. DL E&C proposed a loan-to-value ratio of 150% for relocation funds, a 0% interest rate on mandatory project costs, a maximum 7-year deferral on contribution payments after occupancy, and full funding for the cooperative's project costs.
They specifically proposed a construction period of 57 months, shorter than the original plan of 63 months and Hyundai's proposal of 67 months. DL E&C explained that this 10-month reduction could save approximately 1 billion won per unit, totaling 1.232 trillion won in financial costs.
DL E&C emphasized that "Apgujeong 5 District is the only project the company is focusing on," allowing them to offer competitive conditions with minimal margins. They argued that Hyundai's financial conditions from previous projects in Apgujeong 2 and 3 districts would limit their ability to offer better terms for the 5th district.
They added, "There are no hidden numbers as criticized by Hyundai. Please look at the numbers as they are. DL E&C is essentially all-in on Apgujeong 5 District."
On the same day, a site briefing was actively taking place in the nearby Apgujeong 3 District, and Hyundai's promotional vehicles were seen circulating the area. The entire Apgujeong area appeared to be in a competitive atmosphere for reconstruction bids.
The Apgujeong 5 District boasts a strong location advantage, with the nearest Dongin 3 building just a 10-minute walk from the Apgujeong Rodeo Station on the Bundang Line.
During the weekday afternoon visit, residents were spotted using umbrellas while heading towards the Galleria Department Store. The Apgujeong 5 District is indeed adjacent to a vibrant shopping area.
The area is also home to numerous popular restaurants, boutiques, and cafes around Apgujeong Rodeo Street and Dosan Park. With the potential for Han River views, competition for high-end residential properties in the Gangnam area is expected to intensify.
The contractor selection meeting for Apgujeong 5 District is scheduled for May 30, where the final contractor will be chosen between Hyundai Engineering and DL E&C. The construction cost is estimated at approximately 1.5 trillion won.
* This article has been translated by AI.
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