Daewoo Engineering has been selected as the construction company for the redevelopment project in the Sangdo 15 District of Dongjak-gu, Seoul, valued at 1.4367 trillion won.
On July 16, Daewoo was chosen during the general meeting for the 'Sangdo 15 District Housing Maintenance Redevelopment Project,' the company announced on July 20.
The Sangdo 15 District redevelopment project will involve the construction of 30 residential buildings, ranging from 8 underground floors to 35 above-ground floors, totaling 3,207 housing units, along with community facilities and commercial spaces in the area of 279 Sangdo-dong, Dongjak-gu. The construction cost is approximately 1.4367 trillion won, excluding value-added tax.
Daewoo Engineering proposed the 'Sangdo Summit,' a high-end brand for the Sangdo 15 District. Considering it is the largest integrated redevelopment complex in Dongjak-gu, the company plans to collaborate with world-class design firm SMDP and showcase an exterior design inspired by the natural environment of Guksabong, a local landmark.
The design will feature wide-view windows that offer views of the Han River, the city, and Guksabong, as well as internal views within the complex. Daewoo aims to create a landmark development representing the Sangdo area.
The landscaping design is also distinctive. The project will minimize elevation differences to create a central plaza of approximately 4,600 pyeong, ensuring a pedestrian-friendly environment. Additionally, a covered park and an 8-kilometer circular walking path will connect the entire complex.
Proposed community facilities include three sky communities with a sky bridge, a 50-meter swimming pool with three lanes, an indoor park golf course, and a 50-meter track utilizing two floors, among other large sports facilities.
To expedite the project, Daewoo Engineering will provide a commitment to responsible completion and will finance the project. They have proposed a 100% loan-to-value ratio for smooth relocation, with the condition that contributions are paid in full upon moving in. The company also presented a strategy to maximize profits from general sales using the Summit premium.
As the burden of construction costs and competition for redevelopment projects increases, major construction firms are focusing on securing key redevelopment sites by emphasizing not only project viability but also brand value and financial conditions.
A representative from Daewoo Engineering stated, “As a leading construction company that has supplied the most housing in the country, we will leverage our accumulated expertise in redevelopment projects to execute this project swiftly and reliably, rewarding the support of the members.”
He added, “We will concentrate our efforts to ensure that the Sangdo 15 District, the first Summit complex in the area, becomes a landmark representing the region and a source of pride for the members.”
Meanwhile, Daewoo Engineering plans to focus on securing major redevelopment projects in the second half of the year, including the Mokdong New Town reconstruction, Shinwol City reconstruction, and Yeouido Hwarang Apartment reconstruction.
* This article has been translated by AI.
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