The Seong-su District 3 housing redevelopment project in Seoul's Seongdong District has officially begun the process of selecting a construction company. This massive project, with an estimated construction cost exceeding 1.8 trillion won, is expected to ignite a competitive bidding war among major construction firms.
On June 16, the Seong-su District 3 Redevelopment Project Association announced the opening of bids for construction companies. A site briefing will be held on June 24 at 2 p.m., with the bidding closing on August 10 at 3 p.m.
The total estimated construction cost is set at 1,827,510,330,000 won (excluding VAT), with a construction cost of 12.1 million won per pyeong (approximately 3.3 square meters). The bidding process will be conducted as a general competitive bidding, with no consortiums allowed. Companies wishing to participate must submit a bid deposit of 100 billion won.
Seong-su District 3 is a key project site located in the Seong-su Strategic Maintenance Zone at 572-7 Seong-su-dong 2-ga, covering an area of 114,193 square meters.
Upon completion, Block D2 will feature two buildings with 34 floors each, while Block A3 will consist of eight buildings with 72 floors. The redevelopment aims to transform the area into a large-scale residential complex that includes apartments, community facilities, and commercial spaces.
The Seong-su Strategic Maintenance Zone benefits from its prime location along the Han River and near Seoul Forest, making it an attractive area as Seong-su-dong emerges as a leading residential and commercial district in Seoul.
Industry insiders are closely watching the potential participation of major construction companies such as Samsung C&T, Hyundai Engineering & Construction, GS Engineering & Construction, and DL E&C. Given the single-bid format, each company's brand and design capabilities are expected to play crucial roles in the bidding process.
The association plans to conduct the bidding in accordance with the Seoul City public support construction contractor selection criteria and its own regulations, followed by a general meeting where members will vote to select the final construction company.
Meanwhile, other projects within the Seong-su Strategic Maintenance Zone are also accelerating their redevelopment efforts. The Seong-su District 2 project is set to announce its construction company selection bid this month, with DL E&C and IPARK Hyundai Industrial Development reportedly considering participation. This project aims to create a residential complex with 2,381 units, featuring five underground floors and 65 above-ground floors, with a total project cost of 2.1 trillion won and construction costs around 1.78 trillion won.
Seong-su District 4 recently passed the integrated review by Seoul City and is set to be redeveloped into a complex with 1,439 units across ten buildings, ranging from six underground floors to 64 above-ground floors. The total construction cost is estimated at 1.36 trillion won, with Daewoo Engineering & Construction and Lotte Engineering & Construction participating in the bidding, although the schedule has faced delays due to allegations of violations of bidding guidelines.
Earlier, on May 25, Seong-su District 1 selected GS Engineering & Construction as its construction company during a regular general meeting. This project will develop a site of 194,398 square meters in Seong-su-dong 1-ga into a complex with 3,014 units across 13 buildings, with a construction cost of approximately 2.15 trillion won. After two failed bidding attempts, the project proceeded with a negotiated contract, proposing the name 'Rivenique Xi' for the complex.
* This article has been translated by AI.
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