HanmiGlobal to Oversee Construction Project Management for Apgujeong 3 District Reconstruction

The Largest Redevelopment Project in Gangnam
Recognized for Cost Reduction and Schedule Acceleration Capabilities

HanmiGlobal, the leading construction project management company in Korea, announced on October 30 that it has been selected as the preferred bidder for construction project management (PM·CM) for the Apgujeong 3 District reconstruction maintenance project, which is considered the largest redevelopment project in the Gangnam area.

Apgujeong 3 District is located in Apgujeong-dong, Gangnam-gu, and is an ultra-large-scale reconstruction project to build more than 5,100 residential units on a total site area of 399,595 square meters. Among the Apgujeong reconstruction zones, it is the largest in terms of area and is situated at the center, earning it the nickname "Gangnam within Gangnam."

The Apgujeong 3 District association announced a tender for construction project management companies in September, attracting participation from four firms. After board review, two companies were shortlisted, and on October 29, HanmiGlobal was finally confirmed as the preferred bidder through a vote by the delegates' council. HanmiGlobal received the highest evaluation for its track record in reconstruction project management, technical capabilities, and cost-saving expertise.

Perspective rendering of the reconstruction and maintenance project in Apgujeong 3 District, Gangnam-gu, Seoul. Seoul City

The scope of work for this project covers the entire pre-construction phase, including feasibility studies, design alternative reviews, support for contractor selection, construction cost adequacy reviews, and proposals for cost-saving measures.

PM (Project Management) or CM (Construction Management) is a specialized service in which construction experts oversee the entire project process on behalf of the association, managing quality, cost, and schedule. Since associations are often composed of non-experts, it is difficult for them to independently handle complex administrative procedures or verify construction costs, making technical support from a professional CM company essential.

Recently, HanmiGlobal verified and reduced a construction cost increase request by 39 billion KRW in the Yongsan International Building District 4 redevelopment project, and also cut project costs by 12 billion KRW in Yongsan District 5.

A HanmiGlobal representative stated, "The more complex the interests and the larger the urban maintenance project, the more crucial the role of professional PM·CM becomes. Based on HanmiGlobal's accumulated expertise as a global CM company, we will ensure the successful execution of the Apgujeong 3 District project, befitting its status, and strive to make it a world-class complex beyond just Korea."

Meanwhile, HanmiGlobal is currently managing construction project management for major urban maintenance projects in key areas of Seoul, including Hannam Districts 3 and 4, Yongsan Maintenance Depot Jeonmyeon 1 District, Bangbae District 5, Cheongdam Samik, and Hangang Mansion.

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