Samsung C&T Signs Construction Contract for Sinbanpo 15th Reconstruction Project

Signing ceremony scene of the subcontract agreement between Shinbanpo 15th Complex and Samsung C&T Corporation (Photo by Samsung C&T)

[Asia Economy Reporter Moon Jiwon] Samsung C&T Construction Division announced on the 21st that it signed a construction contract with the 'Sinbanpo 15th Apartment Housing Reconstruction Maintenance Project Association' on the 20th. The contract amount is 240 billion KRW.

The Sinbanpo 15th reconstruction project involves demolishing Sinbanpo 15th, located near 12 Banpo-dong, Seocho-gu, Seoul, and rebuilding it into an apartment complex consisting of six buildings with up to 35 floors and 641 households. The complex name proposed is 'Raemian One Pentas.'

Currently, the relocation and demolition of Sinbanpo 15th have been completed. Samsung C&T finalized consultations with the association and signed the contract less than a month after being selected as the construction company.

Samsung C&T stated, "We properly reflected the contents of the bid proposal, including construction costs, in the contract to build a trust relationship with the association," and added, "We also plan to actively support the rapid progress of the Sinbanpo 15th project."

Sinbanpo 15th is located at a transportation hub with convenient access to Seoul Subway Line 9 Gubanpo Station, Olympic-daero, Sapyeong-daero, and Sinbanpo-ro. Nearby schools include Banpo Elementary, Banpo Middle, and Sehwa Girls' Middle and High Schools.

A Samsung C&T official said, "Based on Raemian's accumulated project management capabilities, we will deliver a landmark complex along with the rapid project progress that the association members desire most."

Samsung C&T added that starting with Raemian Prestige, which has established itself as a landmark apartment in the Banpo area, followed by Raemian One Bailey and Raemian One Pentas scheduled for sale this year, and currently bidding for Banpo 3rd District, they plan to solidify the image of 'Banpo = Raemian.'

This content was produced with the assistance of AI translation services.