[Report] "100% South-Facing Units with Han River Views for All"…DL E&C Seeks to Win Over Apgujeong 5 District Association Members

Apgujeong 5 District Contractor Selection Meeting Set for May 30
DL E&C Highlights Han River Views as Key Advantage
Pledges Zero-Interest Financing Terms for Project Costs

"A view of the Han River and a south-facing orientation should not be privileges reserved for a few; they are fundamental values that every household deserves. We have designed the layout so that all member units are accommodated in the first row of the main buildings along the Han River."

On May 18, at the DL E&C Apgujeong 5 District Promotion Center located in Apgujeong-dong, Seoul, a model of the complex was displayed showing all 1,397 units arranged facing south so that every household enjoys a view of the Han River. A company representative described this as the vision for the future 'Apgujeong Acro' that will be developed if DL E&C is selected as the contractor.

On the 15th, a scale model of the Acro Apgujeong complex was displayed at the DL E&C Apgujeong 5 District Promotion Center in Sinsa-dong, Gangnam-gu. Photo by Lee Ji-eun

With just two weeks left until the contractor selection meeting for Apgujeong 5 District, DL E&C has opened the 'Acro Apgujeong' promotion center and begun efforts to win over the votes of association members. DL E&C's strategy is to secure victory in the bidding war by highlighting 100% Han River views for all units and offering unbeatable financial terms, such as a zero-interest rate on project financing.

The Apgujeong 5 District redevelopment project involves reconstructing a 1,232-unit complex originally built in 1976 and comprised of Hanyang 1st and 2nd Apartments. With its Han River frontage and renowned local schools, it is considered the most anticipated redevelopment site of the year. After reconstruction, the complex is expected to be reborn as a development with up to 68 floors and 1,397 units.

The rear complex view of the Acro Apgujeong model displayed at the DL E&C Apgujeong District 5 promotional center in Sinsa-dong, Gangnam-gu on the 15th. Photo by Lee Ji-eun

DL E&C, which is participating in the contractor bidding, has emphasized 100% Han River views for all units as its main selling point through its promotional exhibition. The company explained that, by increasing the distance between buildings by about 10 meters compared to the original association design (30m) and arranging the main buildings diagonally from due south to southwest and southeast, all units will be able to face the Han River. Some units will offer views of the river from up to nine different rooms. The river views have been categorized into three grades (SSS, S, and A), and apart from the rear complexes such as Building 109 and part of Building 108, all other units are expected to achieve at least S-grade views.

The ultra-large penthouse, measuring 244 pyeong, also attracted attention. It will be the largest penthouse in the country among multi-family housing, giving it both rarity and symbolic value. There are also plans to include medium and small penthouses ranging from 20 to 30 pyeong. A DL E&C representative added, "Some penthouse units may also be included in the subsequent general sales (29 units)."

DL E&C has also put forward groundbreaking financial terms. For project costs, both essential expenses and business promotion expenses will be financed at a 0% premium over the new balance COFIX (Cost of Funds Index) interest rate. The company representative said, "The difference in interest rates is expected to result in financial cost savings of 2.94 billion won in total, or about 23.86 million won per household."

The construction period has also been shortened by 10 months compared to competitors, to just 57 months, with the aim of significantly reducing financial costs. The company representative emphasized, "If the construction period is reduced to 57 months, we estimate a total savings of 12.32 billion won in financial costs, which amounts to about 100 million won per household."

Additionally, the relocation loan is set at an LTV of 150%, and association members will be able to defer their contributions for up to seven years. Furthermore, even if there are unsold commercial units, the contractor plans to acquire them through payment in kind, thereby minimizing the financial burden on association members.

The contractor selection meeting for Apgujeong 5 District is scheduled for May 30. A head-to-head competition between Hyundai Engineering & Construction and DL E&C is expected. DL E&C has proposed a construction cost of 11.39 million won per pyeong (3.3 square meters), with a total project cost of 1.4904 trillion won.

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