'Mokdong Complex 8, 1.1 Trillion Won Project, Set for Smooth Entry by Daewoo Engineering & Construction'

Daewoo Engineering & Construction Participates Alone in
Second On-Site Briefing Session on the 30th
Mokdong Complex 4 Also Holds Its First Briefing
Four Firms, Including Hyundai Engineering & Construction and POSCO, Attend

The reconstruction project for Mokdong Complex 8 in Yangcheon District, Seoul, with a construction cost of 1.1 trillion won, has effectively entered the stage of signing a private contract with Daewoo Engineering & Construction.

Aerial Rendering of the Reconstruction and Redevelopment Plan for Mokdong Complex 8, Yangcheon District

On September 30, the reconstruction association of Mokdong Complex 8 held its second project briefing session for selecting a construction company. Daewoo Engineering & Construction was the only participant at the briefing, all but confirming a private contract. Previously, Daewoo Engineering & Construction was the sole bidder in the first tender, which resulted in a failure due to a lack of competition. The company has consistently expressed strong interest in winning the project by proposing "The Summit Diavo Mokdong"—a plan to introduce its high-end residential brand, Summit, to Complex 8.

The association stated, "Today, only Daewoo Engineering & Construction attended the project briefing. We will follow the legal procedures, including convening a general meeting for the official selection of the contractor."

Mokdong Complex 8 will be rebuilt from the current 1,352 households to a scale of up to 49 stories and 1,881 households. Among these, 289 units are designated as rental housing. The planned construction cost is 1.1119 trillion won, approximately 9.65 million won per 3.3 square meters. Since the designation as a redevelopment zone in March last year, the association has received official establishment approval in April this year and submitted an integrated review in June, accelerating the project's progress.

With this decision, Complex 8 becomes the third of the 14 Mokdong new town reconstruction complexes to reach the final contractor selection stage, following Complex 6 (DL E&C) and Complex 10 (Hyundai Engineering & Construction).

Meanwhile, also on the morning of September 30, Mokdong Complex 4 held its first project briefing session for contractor selection. Four companies—Hyundai Engineering & Construction, POSCO E&C, Hyundai Development Company IPARK, and Cheil Construction—attended the session. Industry insiders believe there is a high chance that Hyundai Engineering & Construction, which has been most proactive in pursuing the project, will be the sole bidder. The tender closes at 2:00 p.m. on November 16.

The planned construction cost for Mokdong Complex 4 is 1.6389 trillion won, translating to 10.1 million won per 3.3 square meters. This project involves rebuilding the existing 1,382 units, constructed in 1986, into a new development with a floor area ratio of 299.94%, up to 49 stories, and 2,436 units. The required contractor bid deposit is 60 billion won—30 billion won in cash and 30 billion won in surety insurance. Consortium bids are not permitted.

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