HanmiGlobal·Heerim Consortium to Oversee Construction Management for Eunma Apartments Redevelopment in Daechi-dong [Real Estate AtoZ]

Redevelopment Expanding from 4,424 to 5,850 Units
Advance Review of Construction Costs and Contracts

The HanmiGlobal and Heerim Architects & Planners consortium has been selected as the construction management (CM·PM) partner for the redevelopment project of Eunma Apartments in Daechi-dong, Gangnam-gu, Seoul.

According to HanmiGlobal on September 7, the Eunma Apartments redevelopment association evaluated the redevelopment experience of the three bidders and ultimately selected the HanmiGlobal·Heerim consortium.

Bird's-eye view of the reconstruction of Eunma Apartment in Daechi-dong, Gangnam-gu, Seoul. Provided by Heerim Architects & Planners

The Eunma Apartments redevelopment project involves demolishing the existing 14-story, 4,424-unit apartment complex built in 1979 and transforming it into a large-scale complex with 29 residential buildings, ranging from 6 basement floors to 49 above-ground floors, totaling 5,850 units. The project passed the integrated redevelopment business review in February this year and received approval for the project implementation plan in July. The association is now aiming to obtain approval for the management and disposition plan and to complete relocation and demolition, with groundbreaking targeted for 2028.

With this selection, the HanmiGlobal·Heerim consortium will be responsible for construction management work during the pre-construction phase, prior to the start of construction. The main tasks include reviewing construction costs, association members' contribution amounts, relocation and teardown schedules, and contract conditions before entering into the final contract with the construction company, as well as identifying ways to reduce project expenses. The association plans to use this process to verify the appropriateness of construction costs, conduct value engineering and economic reviews during the design phase, and then negotiate the contract with the builder.

According to HanmiGlobal, the company previously reduced construction costs by 39 billion won during the redevelopment of the International Building Area 4 in Yongsan, Seoul in 2020, and also cut 12 billion won from the project cost of the International Building Area 5 redevelopment, which was completed last year. Currently, HanmiGlobal is providing construction management for projects such as Hannam Area 3, Hannam Area 4, Apgujeong Area 3, Bangbae Area 5, and Samik Beach in Busan.

Lee Jeongbok, Executive Vice President overseeing domestic business at HanmiGlobal, stated, "We will concentrate all our capacities to ensure the successful advancement of the Eunma Apartments project, which has served as a bellwether for redevelopment projects."

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