Daewoo E&C Secures First Reconstruction Contract for 'Sinbanpo 16th Apartment'

Proposal for the Complex Name 'Sinbanpo Summit Rapium'

Daewoo E&C announced on the 8th that it was selected as the contractor for the 'Sinbanpo 16th Apartment Reconstruction Maintenance Project' located at 55-12 Jamwon-dong, Seocho-gu, Seoul on the 6th. The Sinbanpo 16th Apartment Reconstruction Project involves constructing a residential complex with 4 buildings, ranging from 5 basement floors to 34 above-ground floors, totaling 468 units on a site of 12,977.20㎡. The total construction cost is approximately 246.9 billion KRW.

Daewoo E&C proposed the complex name 'Sinbanpo Summit Lapium' for the Sinbanpo 16th Apartment. The name combines Daewoo E&C's high-end brand 'Summit' with the Italian word for river, 'La Fiume'.

Sinbanpo Summit Lapium features landmark exterior designs proposed by ARCADIS, a global architectural design firm responsible for the design of Apgujeong District 4, Shinsegae Department Store Main Branch, and The Hyundai Daegu.

Daewoo E&C presented project conditions including direct lending of essential project funds to the association, procurement of necessary project funds at the lowest interest rate through the highest credit rating AAA from the Housing & Urban Guarantee Corporation (HUG), and 100% payment of association members' contributions upon move-in.

Additionally, a hotel-style concierge service will be introduced to provide residents with high-end hotel-level breakfast, spa, cultural classes, and pet care services.

A Daewoo E&C official stated, “Daewoo E&C will present a landmark complex befitting the status of Sinbanpo 16th Apartment, which represents the location by the Han River in Gangnam,” and added, “Starting with Sinbanpo 16th, we will lead the top-tier high-end residential culture in Banpo and Apgujeong.”

Meanwhile, Daewoo E&C plans to continue its winning streak following the initial contract for Sinbanpo 16th Apartment reconstruction, targeting projects such as Gaepo Jugong Complex 5, Seongsan Moa Town District 1, and Dadae District 3.

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