en.Wedoany.com Reported - Nine reserved units at "Cheongdam LeL" (formerly the Cheongdam Samik Apartment Redevelopment Project), a high-end residential complex in Gangnam-gu, Seoul, will be put up for sale soon. The project is being constructed by Lotte E&C.

Lotte E&C, the construction company responsible for the project, announced on the 29th that the Cheongdam Samik Apartment Redevelopment Union has initiated a public competitive bidding process, with the bid submission deadline set for 3:00 PM on the 7th of next month.

The reserved units for sale include five units with a dedicated area of 84 square meters, with a base bidding price ranging from approximately 5.4 billion to 5.6 billion Korean won. Additionally, there are four penthouses with dedicated areas of 172, 200, 202, and 218 square meters, with base bidding prices ranging from approximately 17.8 billion to 22.6 billion Korean won.

This marks the first sale of reserved units since the new union leader took office on the 19th of this month. To align with current market conditions, the base price for the most in-demand 84-square-meter units has been reduced by approximately 10% compared to the appraised value.

The "Cheongdam LeL" complex is a high-end residential building with four underground floors and up to 35 above-ground floors, comprising a total of 1,261 units. During the first-priority subscription in 2024, the project attracted 56,717 applicants for 85 units, achieving an average competition ratio of 667.3 to 1.

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