DL E&C Raises the Stakes in Zone 5 to Block 'Hyundai Dominance' in Apgujeong

Zone 5 Emerges as the Key Battleground
Samsung and DL Join the Fray Amid Hyundai's 'Townification' Ambitions

DL E&C is showing strong determination to win the bid for Zone 5, which will be a decisive factor in the reconstruction project competition in Apgujeong, Gangnam-gu, Seoul. Attention is being paid to whether this will affect Hyundai Engineering & Construction's plan to group this area into a "Hyundai Town." Hyundai Engineering & Construction has already secured Zone 2 and is also competing for the largest project sites, Zones 3 and 5.

According to industry sources on March 13, Hyundai Engineering & Construction and DL E&C are presenting financial support cooperation plans to ensure stable funding for the redevelopment project and to alleviate the financial burden on association members as they compete for the Apgujeong Zone 5 project. In particular, DL E&C has proposed not only loan support but also plans to provide high-end asset management services.

A representative from DL E&C stated, "We are focusing on Zone 5 in Apgujeong," adding, "We plan to offer premium project terms that will satisfy association members."

The reason for putting everything on the line for Zone 5 is that it is considered the key battleground in the Apgujeong reconstruction bidding war. Centered around Hanyang 1st and 2nd complexes, this zone consists of about 1,400 households, making it smaller in scale compared to other zones. However, due to the high pre-sale price per pyeong, it is regarded as highly profitable.

An industry insider commented, "While Hyundai Engineering & Construction is relatively favored within the associations of Zones 2 and 3, the atmosphere in Zone 5 is more open, leading to ongoing competition among construction companies."

As competition between companies intensifies, Hyundai Engineering & Construction's vision to turn the Apgujeong area into "Hyundai Town" is expected to face challenges. In the past, as Hyundai Engineering & Construction built major complexes here, the area became symbolic of the "Hyundai Apartment" brand and is referred to in the industry as "Hyundai's stronghold." Hyundai Engineering & Construction has secured the construction rights for Zone 2, which involves the reconstruction of the Shin Hyundai 9th, 11th, and 12th complexes, and is also considered a leading candidate for the largest project, Zone 3.

Samsung C&T is also reportedly considering participation. There is speculation that if Samsung C&T joins the competition for Zone 5 alongside Hyundai Engineering & Construction and DL E&C, the competitive landscape will become even more complex. A Hyundai Engineering & Construction representative emphasized, "Through our premium brand 'THE H,' we have continuously built high-end residential brand value," adding, "Apgujeong is a symbolic area where Hyundai Engineering & Construction has constructed major complexes for a long time."

An industry insider said, "Most of the Apgujeong reconstruction projects are expected to feature super high-rise designs of around 60 stories," adding, "Because super high-rise construction involves significant burdens in terms of structural design, construction period, and costs, construction companies are selectively devising their bidding strategies."

Zone 4, which includes Hyundai 8th and Hanyang 3rd, 4th, and 6th complexes, is a mid-sized project expected to consist of about 2,000 households after reconstruction. Samsung C&T is considered a strong candidate for this zone as well, according to industry sources.

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