en.Wedoany.com Reported - The bidding for the construction of the redevelopment projects in Apgujeong District 3 and 5, Gangnam-gu, Seoul, and Mok-dong District 6, Yangcheon-gu, South Korea, closed on April 10th. For Apgujeong District 5, Hyundai Engineering & Construction and DL E&C participated in the bidding. Both Apgujeong District 3 and Mok-dong District 6 were declared unsuccessful as only one bid was received for each.

Apgujeong District 5 is being promoted using a fast-track comprehensive plan. The project involves constructing 8 apartment buildings with 5 basement levels and up to 68 above-ground floors, totaling 1,397 units. The project cost is approximately 1.496 trillion won. Apgujeong District 3 is the largest area within the Apgujeong redevelopment zone. The plan is to redevelop the existing 3,934 old apartment units into 5,175 units. The construction cost is 5.561 trillion won. This tender was unsuccessful as only Hyundai Engineering & Construction submitted a bid. The association plans to reissue the construction tender announcement soon.

Mok-dong District 6 currently has 1,362 units. The redevelopment plan is to construct 14 apartment buildings with 2 basement levels and up to 49 above-ground floors, totaling 2,173 units. The project cost is approximately 1.2129 trillion won. This tender was also unsuccessful as only DL E&C submitted a bid. According to South Korea's "Urban and Residential Environment Maintenance Act," if a tender fails twice or more due to a single bidder, it can be converted to a negotiated contract.

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