Selection of Construction Company for Hannam 4 District Finalized... Eyes on the Next 'Big Catch'

Perspective view of 'Raemian Glowhills Hannam' proposed by Samsung C&T for Hannam District 4. Provided by Samsung C&T

Samsung C&T has been selected as the final winner as the construction company for Hannam 4 District in Yongsan-gu, Seoul. Fierce competition among major construction companies is expected as key redevelopment projects in Apgujeong, Jamsil, and Seongsu remain to be decided.

According to industry sources on the 27th, the Hannam 4 District redevelopment association decided on Samsung C&T as the construction company at a temporary general meeting for the selection of the construction firm.

Samsung C&T had been competing with Hyundai Engineering & Construction for the redevelopment project construction contract in Hannam 4 District. However, Samsung C&T was chosen as the final winner by securing 675 votes out of a total of 1,026 votes. Hannam 4 District is a redevelopment project of the 360 area in Bogwang-dong, Yongsan-gu, constructing apartments and auxiliary welfare facilities with 7 basement floors to 22 above-ground floors, 51 buildings, and a total of 2,331 households. The construction cost approaches 1.6 trillion KRW, making it one of the largest redevelopment projects in Seoul.

Furthermore, Hannam 4 District is regarded as a preliminary battle for the upcoming major complex contract competitions. Hyundai Engineering & Construction planned to advance into District 4 following their earlier win in Hannam 3 District but ultimately failed. On the other hand, Samsung C&T proposed the complex under the name 'Raemian Glowhills Hannam' and also offered financial benefits, appealing to the association members' votes.

With the selection of the construction company for Hannam 4 District completed, attention is turning to which major construction company will secure future large-scale redevelopment projects.

In the case of Hannam 5 District, only DL E&C participated in the first and second rounds of construction company bidding, resulting in no competitive bidding. A sole bidder contract remains, and results are expected once the association's executive body is formed. The Hannam 5 District redevelopment project involves constructing 51 apartment buildings with 2,592 households, ranging from 6 basement floors to 23 above-ground floors, in the Dongbinggo-dong 60 area of Yongsan-gu.

Additionally, major redevelopment projects in Apgujeong and Jamsil are also approaching construction company selection, anticipating intense competition among construction firms.

For Apgujeong 2 District, construction company selection is expected in the first half of this year, and Samsung C&T and Hyundai Engineering & Construction are likely to compete again for the apartment reconstruction construction rights in Apgujeong 3 District. In the Songpa-gu Jamsil Woosung reconstruction scheduled for March this year, GS Engineering & Construction and Samsung C&T are expected to compete. For Shinbanpo 4th Complex, with construction costs approaching 1.03 trillion KRW, six companies including Samsung C&T and Daewoo Engineering & Construction participated in the briefing session.