DL E&C has been selected as the preferred negotiation partner for the redevelopment project in the Seongsu 2 strategic maintenance area, with a project cost of 2.1 trillion won. The company has signed financial agreements with ten major domestic financial institutions.
On September 29, DL E&C announced that it had entered into memorandums of understanding (MOUs) with five major banks, including KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, and NH Nonghyup Bank, as well as five leading securities firms: KB Securities, NH Investment & Securities, Samsung Securities, Korea Investment & Securities, and Kiwoom Securities. The signing ceremony took place at the D Tower Seoul Forest in Seongdong-gu, Seoul.
The agreements aim to address the financial needs of the Seongsu 2 District members, with participating financial institutions set to provide financial information and related services to the members in the future.
DL E&C plans to establish a cooperative framework with financial institutions to support the funding and financial needs of the members.
The Seongsu 2 District redevelopment project will develop residential complexes and community facilities over an area of 131,980 square meters in Seongdong-gu, Seoul. The residential area is planned to consist of buildings ranging from six underground floors to 65 above-ground floors, while the mixed-use area will have five underground floors and 44 above-ground floors. DL E&C has stated that the announced project cost is approximately 2.1 trillion won.
Previously, the selection process for the construction company for the Seongsu 2 District faced multiple failures and was switched to a negotiated contract method. DL E&C was designated as the preferred negotiation partner on September 23, and the selection process for the construction company will proceed following a general meeting of the members.
A DL E&C official stated, "We plan to respond to the diverse financial needs of the members and support the project through collaboration with financial institutions."
* This article has been translated by AI.
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