The competition among major construction firms for the Mokdong 13 reconstruction project in Yangcheon District, Seoul, has officially begun. With an estimated construction cost exceeding 2.3 trillion won, this large-scale project is expected to become a key battleground in the southwestern Seoul redevelopment market.
According to the construction industry on June 29, the project’s implementer, Daishin Asset Trust, held a site briefing at 3 p.m. in Jung-gu, Seoul, to select a construction company.
Five construction firms attended the briefing: Samsung C&T, DL E&C, Daewoo Engineering & Construction, HDC Hyundai Development Company, and Jeil Construction. Only those companies that received the bidding guidelines during the briefing are eligible to participate in the bidding process.
Industry attention is particularly focused on Samsung C&T, which has shown significant interest in the Mokdong 13 bid. Given that the Mokdong reconstruction project is considered a central site in the southwestern Seoul redevelopment market and has large-scale business potential, Samsung C&T has reportedly been evaluating its participation from an early stage.
However, the actual bidding landscape is expected to become clearer by the bid submission deadline in September. Whether other major firms like DL E&C, Daewoo Engineering & Construction, and HDC Hyundai Development Company will participate in the main bidding is seen as a critical variable in the competition.
The deadline for bid submissions is set for September 7 at 2 p.m., with a bid deposit of 900 billion won required. The construction contractor will be selected through a vote by landowners at a general meeting, based on the criteria established by the Seoul public support redevelopment project.
Mokdong 13 is a large-scale reconstruction site located in the area of 327 Sinjeong-dong, Yangcheon District. The site covers approximately 178,919 square meters, with an estimated construction cost of about 2.3763 trillion won. The construction cost per 3.3 square meters is around 9.8 million won.
Once completed, the existing 2,280-unit aging apartment complex will be transformed into a large complex with 3,852 units, featuring a structure of four basement levels and 49 above-ground floors. The project is also evaluated as a site that combines scale and location competitiveness in the Mokdong new town area. Additionally, due to its proximity to Yangcheon-gu Office Station, the large number of units, and the potential for landmark development, it is considered a key project that will influence the future atmosphere of the Mokdong reconstruction market.
Yang Guk-jin, chairman of the Mokdong 13 Reconstruction Project Committee, stated, "I hope as many construction companies as possible participate in the bidding for the Mokdong 13 reconstruction project to foster healthy competition with favorable conditions."
* This article has been translated by AI.
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