Hyundai E&C, DL E&C Vie for Apgujeong 5 Redevelopment Project

Bidding for construction companies for the reconstruction project to build new apartments in the Apgujeong 5 district, a key area in Seoul's Gangnam, closed on the 10th. The project garnered attention as two major construction firms, Hyundai Engineering & Construction and DL E&C, participated for the constructor role. The district plans to construct a total of 1,397 apartment units across 8 buildings, spanning 5 basement floors to 68 above ground.

A controversy arose during the Apgujeong 5 district constructor bidding process when a DL E&C employee was seen photographing Hyundai E&C's proposal. However, the Gangnam District Office stated that the act was unlikely to be grounds for bid invalidation. Consequently, the Apgujeong 5 District Reconstruction Committee decided to proceed with the constructor selection general meeting as scheduled after receiving an official apology from DL E&C. The committee will hold the general meeting on the 30th of next month to determine the final constructor.

Meanwhile, no competitive bids were formed for other projects. Hyundai Engineering & Construction's bid for the Apgujeong 3 district reconstruction resulted in a cancellation due to a sole applicant, and DL E&C also faced a cancellation for the Mokdong 6th Complex reconstruction project as it was the only bidder.