Hyundai Engineering & Construction (000720) has secured the construction rights for the rebuilding of Mokdong Complex 10, pushing its urban redevelopment orders past its 12 trillion won target for the year. The builder earlier became the first in the industry to reach 10 trillion won in such orders this year.
Hyundai Engineering & Construction said on the 19th that it was selected as the contractor at a general meeting for the Mokdong Complex 10 rebuilding project held on the 18th. The project will replace 2,160 existing apartment units at 311 Sinjeong-dong in Seoul's Yangcheon district with 4,248 units in buildings of up to 40 stories, along with community facilities. Korea Land Trust is the project operator, and the total construction cost is about 2.6136 trillion won.
It is the first time Hyundai Engineering & Construction has won construction rights in any of the 14 estates that make up the Mokdong New Town. Built in the 1980s, the 14-estate district in southwestern Seoul is a residential area known for its concentration of educational demand.
The company will apply its high-end residential brand DH in Mokdong for the first time at Complex 10. It proposed naming the development DH Mokdong Eser, linking the estate's number to "eser," the Hebrew word for 10.
Hyundai Engineering & Construction also presented an "All Life Campus" concept that weaves educational facilities into the living space. Morphosis and Sasaki took part in the design. Morphosis was founded by Thom Mayne, a winner of the Pritzker Prize, while Sasaki handled landscaping and community design, drawing on its experience designing university campuses.
"Mokdong Complex 10 is a meaningful project that marks Hyundai Engineering & Construction's first step into the Mokdong New Town rebuilding market," an official at the company said. "We will bring together Hyundai Engineering & Construction's technology, the brand competitiveness of DH and global design capabilities to carry on the educational pride Mokdong has built up as a future residential value."