Lotte Construction Wins 1.3 Trillion Won Seongsu District 4 Redevelopment Contract [Real Estate A to Z]

64-Story Han River View Complex Planned
Complex to Be Named "Seongsu Le El S70"

Lotte Construction has secured the construction contract for the residential redevelopment and maintenance project in District 4 of the Seongsu Strategic Redevelopment Zone in Seongdong-gu, Seoul, surpassing Daewoo Engineering & Construction. The total construction cost amounts to 1.3492 trillion won.

According to the construction industry, on July 5, the redevelopment association for Seongsu District 4 held a general meeting to select the contractor at the Yerimdang Art Hall in Gangnam-gu, Seoul, and chose Lotte Construction as the builder. Of the 753 total association members, 620 (82.3%) participated in the vote, with 449 of them (72.4%) selecting Lotte Construction. There were two invalid ballots.

'Seongsurel S70' perspective view. Lotte Construction

The Seongsu District 4 redevelopment project involves constructing ten apartment buildings, ranging from six basement floors to 64 above-ground floors, with a total of 1,447 units in the Seongsu 2(i)-ga 1-dong area of Seongdong-gu, Seoul. Lotte Construction stated, "Seongsu District 4 is rare in that it allows for super high-rise development along the Han River," adding, "It is expected to become a landmark residential complex representing Seoul in the future."

It is highly regarded for its accessibility to Gangnam, with Seoul Subway Line 2's Seongsu Station and the Suin–Bundang Line's Seoul Forest Station nearby, as well as easy access to Yeongdong Bridge and Gangbyeonbuk-ro.

Lotte Construction proposed 'Seongsu Le El S70' as the name for the complex. The buildings are arranged so that all units have a view of the Han River. The interior ceiling height is designed at 3 meters, which is approximately 70 centimeters higher than the standard apartment ceiling height of 2.3 meters.

Parking spaces are allocated at a level of three vehicles per unit. Compared to the average of 1.3 to 1.5 vehicles per unit in newly built apartments in Seoul, this is more than double. The width of the parking spaces has also been increased to 3 meters. In the center of the complex, a 16,800-square-meter plaza—twice the size of a soccer field—will be created.

To ensure the safety of the super high-rise buildings, Lotte Construction will collaborate with a specialized company that handled the structural design for Lotte World Tower. Top-tier seismic technology will be applied to the building structures.

Yongju Koh, Head of the Development Business Division at Lotte Construction, said, "I would like to express my sincere gratitude to the members of the Seongsu District 4 association for trusting and selecting Lotte Construction. We will fully deliver on our proposed plans and, by leveraging the Han River views and super high-rise design, complete 'Seongsu Le El S70' as Seoul's premier hyper-end landmark."

Earlier this year, Lotte Construction won contracts for the reconstruction of Garak Geukdong Apartment in Songpa (484 billion won), the redevelopment of Geumho District 21 (624.2 billion won), and the reconstruction of Yongho District 3 in Changwon (396.7 billion won). With this latest contract, Lotte Construction's cumulative orders for urban redevelopment projects this year have increased to 2.8541 trillion won.

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