HDC Hyundai Development Company has won the reconstruction project of Dongsin Apartment in Wolgye-dong, Nowon-gu, Seoul. This marks their second consecutive win following the collapse disaster at a construction site in Gwangju.
According to the maintenance industry on the 27th, the Wolgye Dongsin Reconstruction Association selected HDC Hyundai Development Company as the construction company at the general meeting held that day.
Out of 887 total association members, 800 attended, and HDC Hyundai Development Company received 739 votes (92.4%), overwhelmingly defeating the competitor Kolon Global.
The industry had anticipated HDC Hyundai Development Company’s victory. It was evaluated that their project conditions were superior compared to competitors. HDC Hyundai Development Company proposed ▲100% compensation in case of unsold units ▲a total of 450 billion KRW in project promotion funds, 500 million KRW per household ▲fixed construction costs with no additional charges ▲the first application of a high-end brand launch or brand renewal in Gangbuk area.
With this, HDC Hyundai Development Company has secured two consecutive reconstruction project wins this month, following the Gwangju Seo-gu Hwajeong I-Park exterior collapse accident and the reconstruction project at Gwanyang Hyundai Apartment in Dongan-gu, Anyang-si, Gyeonggi-do.
The Wolgye Dongsin reconstruction project involves rebuilding from 7 buildings with 12 floors above ground and 864 households to 14 buildings with 4 basement floors to 25 floors above ground and 1,070 households, with a construction cost of approximately 282.6 billion KRW.
Previously, in the first bidding held last year, Hyundai Development Company participated alone and the bid failed, but in the second bidding, Kolon Global participated, forming a two-way competition.
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