HDC Selected as Construction Contractor for Seoul Jegi 1 District Reconstruction
[Asia Economy Reporter Yoo In-ho]
HDC Hyundai Development Company has been selected as the construction company for Jegi 1 District in Dongdaemun-gu, Seoul.
On the afternoon of the 1st, HDC Hyundai Development Company secured 153 out of 190 votes at the full meeting of landowners held at Seoul Central Church in Jegi-dong for the Jegi 1 District reconstruction maintenance project, thus being appointed as the construction company.
The Jegi 1 District reconstruction maintenance project involves constructing two apartment buildings with 357 households, ranging from two basement floors to 35 above-ground floors, in the area of 80 Jeongneungcheon-dong-ro, Dongdaemun-gu (Kyungdong Miju Apartments). The total construction cost is 69.3 billion KRW.
Located in a prime area near Jegi-dong Station on Subway Line 1, it boasts excellent transportation conditions with proximity to Cheongnyangni Station and the Inner Ring Road. It is also evaluated to have abundant living infrastructure such as Lotte Department Store, Homeplus, Yakryeong Market, and Dongdaemun-gu Office. In particular, development issues centered around Cheongnyangni Station, including the Metropolitan Area Express Railway (GTX), are ongoing.
During the bidding process for Jegi 1 District, HDC Hyundai Development Company gained trust by presenting a design concept inspired by the natural monument No. 240, the “Seonnongdan Juniper Tree,” a symbol representing Jegi-dong.
With the selection of the construction company finalized, HDC Hyundai Development Company will promptly consult with the project implementer, Hana Asset Trust, to actively proceed with the project. Construction and sales are planned to begin in the first half of 2022, with completion scheduled for the end of 2024.
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A company official stated, “We will repay the trust given by the landowners by presenting a premium residential space that will establish itself as a landmark in the area, creating a complex in the form of trees and forests inspired by the juniper tree, a symbol of Jegi-dong.”
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