Immediate Reannouncement After Failed Bid
Private Contract with Hyundai Construction if Second Bid Fails
The redevelopment project of Eungbong 1 District in Seongdong-gu, Seoul, failed due to a sole bid from Hyundai Engineering & Construction.
The association immediately re-announced the bid following the failure to select a contractor due to Hyundai Engineering & Construction's sole bid. If Hyundai Engineering & Construction also submits the only bid in the second round, the contractor selection will be finalized within the year through a private contract method.
According to the maintenance industry on the 24th, the Eungbong 1 District Housing Redevelopment Maintenance Association closed the bid for contractor selection on the same day, and due to Hyundai Engineering & Construction's sole bid resulting in failure, they immediately proceeded with a re-announcement.
A view of Eungbong 1 District in Seongdong-gu, Seoul, where the reconstruction maintenance project is underway. Photo by Cha Wanyong
The Eungbong 1 District redevelopment is a maintenance project located at 193-162, Eungbong-dong, Seongdong-gu, Seoul, covering an area of approximately 39,465㎡. It involves constructing 15 buildings ranging from 5 basement floors to 15 above-ground floors, comprising 525 households and auxiliary welfare facilities. The site is adjacent to Eungbong Station on the Gyeongui-Jungang Line subway, and Wangsimni Station, just one stop away, provides access to Seoul Subway Lines 2 and 5, as well as the Gyeongui-Jungang Line and Suin-Bundang Line, making it a highly desirable residential area. The educational environment and living infrastructure are also well established.
Initially, the project was expected to see fierce bidding competition as a Seoul redevelopment complex. In fact, 10 construction companies, including Samsung C&T, DL E&C, and Hoban Construction, attended the site briefing session alongside Hyundai Engineering & Construction, creating a lively atmosphere. However, most construction companies withdrew from bidding because the association announced a construction cost of 7.55 million KRW per pyeong, which was lower compared to surrounding areas in Seoul.
On the other hand, Hyundai Engineering & Construction, which submitted the sole bid, showed a proactive attitude toward winning the Eungbong 1 District project. To present a landmark design for Eungbong 1 District, they partnered with UNStudio, a Dutch eco-friendly architectural firm. UNStudio is a world-renowned design group that has delivered landmark designs such as the Mercedes-Benz Museum in Germany and the Apgujeong Galleria Department Store.
UNStudio visited the site together with Hyundai Engineering & Construction’s design team to consider a design suitable for Eungbong 1 District and to identify points of inspiration for the design.
Association officials have expressed their welcome for Hyundai Engineering & Construction’s sincere attitude in collaborating with a prestigious overseas design firm to create a landmark for the Eungbong 1 District redevelopment. A representative of the Eungbong 1 District redevelopment association stated, “We will complete the contractor selection process as soon as possible and work with Hyundai Engineering & Construction to do our best in building a landmark complex representing Seongdong-gu.”
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