Raemian Triumphs Over Summit at Gaepo Useong 7th
Secures Project by 68 Votes After Fierce Competition with Daewoo Engineering & Construction
Proposes 'Raemian Lumiwon' as New Complex Name, Highlights Advanced Design and Premium Features
Samsung C&T's construction division secured contracts for two reconstruction complexes in Gangnam and Seocho in a single day, achieving 7 trillion won in housing business orders for this year.
On the 24th, Samsung C&T announced that at the Gaepo Useong 7th construction company selection general meeting held on the 23rd, it won the reconstruction project by receiving 403 out of 742 votes from association members, achieving a vote rate of 54.3%. On the same day, at the Samho Garden 5th construction company selection general meeting, the proposal to select Samsung C&T, which was the preferred negotiation partner, as the construction company was also approved.
At the construction company selection general meeting held by the Gaepo Useong 7th Reconstruction Association on the 23rd, Samsung C&T was chosen as the construction company, defeating Daewoo Engineering & Construction by 68 votes. Immediately after the selection, executives and employees greeted the association members holding banners. Photo by Han Jinju
Samsung C&T's total housing business orders have now increased to 7.0828 trillion won. The Gaepo Useong 7th reconstruction project is worth 675.7 billion won, while the Samho Garden 5th reconstruction project is worth 236.9 billion won, meaning the company secured 912.6 billion won in contracts in just one day. This is the first time Samsung C&T's housing business orders have surpassed 7 trillion won in its history.
In anticipation of sluggish orders in the high-tech sector, Samsung C&T raised its housing and development business order target for this year to 5 trillion won, an increase of 1.4 trillion won from last year, and has already surpassed 7 trillion won. The company is expected to pursue additional construction rights within the year at prime redevelopment sites such as Yeouido Daegyo and Seongsu.
Raemian Defeats Summit at Gaepo Useong 7th
In particular, Gaepo Useong 7th was a fiercely contested site where Samsung C&T succeeded by a margin of 68 votes over Daewoo Engineering & Construction. Following its victory at Banpo Jugong Complex 1 Section 3 five years ago, Samsung C&T once again prevailed in this return match. The Gaepo Useong 7th project, located at 15 Gaepo-ro 110-gil, Gangnam-gu, Seoul, will consist of 10 buildings with 1,112 units and ancillary facilities, spanning four basement levels and 35 floors above ground. The construction cost is approximately 675.7 billion won. Samsung C&T proposed 'Raemian Lumiwon' as the new complex name.
Samsung C&T won over association members by emphasizing the brand value of Raemian, its fifth-generation design, and favorable business conditions. The optimal arrangement of 10 buildings in two rows maximizes comfort and openness, while a large central plaza of about 10,000 square meters (3,000 pyeong) and a community facility with 55 programs covering about 13,970 square meters (4,226 pyeong) will be built. Interior features will include 5- and 6-bay designs, 2.77-meter ceiling heights, and private terraces, representing the highest level of specialized layouts in Gaepo. Other key differentiators include flexible structural design, top-grade inter-floor noise insulation, and state-of-the-art AI parking technology.
Samsung C&T, holding the industry's only highest credit rating (AA+), promised to secure all project funds, including essential and business promotion expenses, at the lowest interest rates. Additional conditions include a four-year deferral of member contributions, 100% refund payment within 30 days, and the company's own responsibility to cover up to 10 billion won in construction cost increases due to inflation before groundbreaking. The company also pledged to ensure rapid progress with alternative designs that fully meet Seoul City’s approval standards, preventing any licensing delays. Samsung C&T proposed a construction period of 43 months, with relocation within two years and groundbreaking within three years.
Kim Sangguk, Executive Vice President and Head of Housing Development at Samsung C&T, stated, "I believe our differentiated proposal, which maximizes the value of Gaepo Useong 7th, was highly evaluated. I sincerely thank the association members and promise to deliver the best apartment complex in the Gaepo area as promised."
Banpo Samho Garden 5th Secured Without Contest
The Banpo Samho Garden 5th project will be built at 30-1 Banpo-dong, Seocho-gu, Seoul, on a 13,365-square-meter site, with two buildings comprising 306 units and ancillary facilities, spanning four basement levels and 35 floors above ground. The construction cost is approximately 236.9 billion won. Samsung C&T proposed 'Raemian Parapeak Banpo' as the new complex name, signifying that the complex, located at the center of the triangle connecting Banpo, Seocho, and Jamwon, will become the pinnacle of high-end living.
Samsung C&T reduced the original three-building plan to two buildings to enhance openness and implemented an integrated landmark design. Inspired by the curves of the juniper tree, the symbol of Seocho, the design connects from the ground to the streamlined sky community. The sky community on the 35th floor, the highest level, offers panoramic views, including city views of Banpo, as well as vistas of Umyeonsan, Gwanaksan, Midosan, the Han River, and Namsan Tower. The sky community will also feature a brunch cafe, atelier, and gardens.
On the ground level, a central plaza of about 2,000 square meters will be created as a relaxation space. Separated community facilities will be relocated and integrated underground to improve accessibility. The premium community facilities, with 30 programs including a fitness club, golf club, and sports lounge, will offer a generous 18.05 square meters (5.46 pyeong) of space per household. Ceiling heights of 2.5 meters and panoramic windows will enhance openness, while customized interiors and the modular furniture system 'Raemian Furniture Wall Option' will also be provided.
Lim Cheoljin, Managing Director and Head of Housing Sales Team 1 at Samsung C&T, stated, "We have incorporated a variety of differentiated and specialized proposals to make this a new landmark symbolizing Banpo. We will do our utmost to deliver a premium residential experience that exceeds the association's expectations."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
