GS Engineering & Construction Pays 100 Billion Won Bid Deposit for Seongsu District 1

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GS Engineering & Construction announced on the 19th that it had paid the entire 100 billion won bid deposit for the redevelopment of District 1 of the Seongsu Strategic Maintenance Zone (Seongsu District 1) in Seongdong-gu, Seoul, in cash and submitted its bidding documents.

GS Engineering & Construction, which previously put forward the differentiated concept of "Beyond Seongsu" as a strategy to surpass the existing value of Seongsu-dong, has now proposed "Rivenique Xi" as the name of the Seongsu District 1 complex. The bidding for this redevelopment project closes on the 20th, and the construction company will be finalized at the union general meeting in April.

The proposed complex name "Rivenique Xi" by GS Engineering & Construction is a compound of the French words "Riviere," meaning river, and "Unique," meaning special. It reflects the company’s intention to build the top landmark of Seongsu-dong in harmony with the Han River. GS Engineering & Construction has also applied for a trademark for Rivenique Xi.

Previously, in June last year, GS Engineering & Construction signed a business agreement with the world-renowned architectural firm "David Chipperfield Architects" regarding the design of Seongsu District 1, and it recently announced that it would apply, for the first time in Seongsu District 1, its patented panoramic view structural design technology, for which it has completed patent filing.

The Seongsu District 1 project is a development to build around 3,000 apartment units and ancillary welfare facilities on a 194,398-square-meter site at 72-10, Seongsu 1-ga 1-dong, Seongdong-gu. It is the largest in scale among the four districts of the Seongsu Strategic Maintenance Zone.

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